The Commission wishes to draw licensees’ attention to the current military action in Iraq and the associated funding of the extremist insurgency group, Islamic State in Iraq and the Levant (“ISIS”). Reports indicate that in addition to private donations and traditional criminal activity in that region such as robbery and extortion, ISIS has been funding […]

On 14 February 2014, the Financial Action Task Force (FATF) published two statements identifying jurisdictions with strategic deficiencies in their anti-money laundering (AML) and combating the financing of terrorism (CFT) regimes (see below). The second plenary meeting of the Financial Action Task Force (FATF), which was held in Paris from 12 to 14 February 2014, achieved […]

The Joint Money Laundering Steering Group (JMLSG) has received confirmation  of HM Treasury’s approval of certain amendments made to its anti-money laundering (AML) and counter-terrorist financing (CTF) guidance. The approval was confirmed in a letter to the JMLSG and relates to changes made to parts I and II of the JMLSG’s 2011 guidance. http://sites.herbertsmithfreehills.vuturevx.com/38/5938/landing-pages/united-kingdom.asp?sid=6f726542-002e-4ba6-bcc9-47551be8cd5a

HM Treasury has published a set of responses to Frequently Asked Questions (FAQs) regarding the scope and practical applicability of the UK financial sanctions regime. The FAQs include detail on the applicability and enforcement of the regime, the powers of HM Treasury in relation to information gathering, and details on HM Treasury’s list of persons […]