Criminal Records Bureau 29 Nov 2012 If you have been asked to apply for a criminal record check you may have been asked to complete a DBS application form. Don’t panic. On the 1st December the Criminal Records Bureau (CRB) and the Independent Safeguarding Authority (ISA) will merge to create the Disclosure and Barring Service […]

Money Laundering – Essential Facts No:1 29 Nov 2012 The globalisation of crime has led to an increase in specialist and sophisticatedmoney launderers, exclusively providing services of transferring and concealingcriminal property . Such money laundering allegations are now all too familiar.But how does the prosecution prove that “criminal property” has been generatedthrough unlawful activity when […]

Tax evasion flourishing with help from UK firms – 27 Nov 2012 A flourishing industry which helps people evade UK tax has been uncovered following an investigation by the BBC’s Panorama programme. One company formation firm said the odds of getting caught by the UK tax authorities are roughly equivalent to winning the lottery. The […]

27 Nov 2012 AML is for everyone- “….keep in mind that around the world it is recognized that AML/CFT regulations need to be applied not just to banks, but rather to a range of financial and other types of commercial institutions…. …… Why? The reason is that any way that you can move money – […]

UBS Said Fined $72 Million for Missing Adoboli Trading – 26 Nov 2012 Switzerland’s largest bank, faces a fine of about 45 million pounds ($71.7 million) for failing to detect billions in unauthorized trades by Kweku Adoboli, according to a person familiar with the situation. The bank could get a maximum penalty of as much […]

Upcoming financial crime thematic review of asset managers – 26 Nov 2012 In a speech by Tracey McDermott, director of the Enforcement and Financial Crime Division at the Financial Services Authority (FSA), at the APCIMS Conference, firms were reminded that a thematic review of asset managers was about to begin. The thematic review will focus […]

20 Nov 2012 Legal Issues Driving down Governance Rating at HSBC – Europe’s largest lender in terms of market value, has been mired in regulatory trouble throughout the fall. Since this time last year, GMI Ratings has typically scored HSBC in the average range for long-term sustainability risk. However, the company’s rating as measured by […]

Combating financial crime: Key themes and priorities for 2013 – speech by Tracey McDermott (FSA) 20 Nov 2012 Tracey McDermott, Director of the FSA’s Enforcement and Financial Crime Division, has given a speech entitled “Combating Financial Crime: Key themes and Priorities for 2013”. Many of the points raised will be familiar but some key points […]