The Egmont Group of Financial Intelligence Units recently published a compilation of case studies taken from their Best Egmont Case Awards. It is essential reading for all AML and financial crime professionals. Published on 26 February 2015, the 22 model cases deal with bribery and corruption, drug trafficking, fraud, human trafficking, kidnapping, organised crime, and […]

On 21 January, the FCA held two live webinars which are now available to watch on demand. The first webinar focused on Managing money laundering and sanctions risk at smaller banks, http://bit.ly/1yB3fQx whilst the second webinar looked at Managing bribery and corruption risk in commercial insurance broking. http://bit.ly/1y6UUPO The webinars each comprise of a presentation from Rob […]

The British Bankers’ Association (BBA) has announced the launch of a pioneering financial crime alert system which will see 12 government and law enforcement agencies warn banks of the latest threats in a bid to safeguard the accounts of millions of customers. The BBA will launch the financial crime alerts service (FCAS) as part of […]

Following an earlier consultation the FCA has amended its guidance on good and poor practice relating to banks’ control of financial crime risks in trade finance, as contained in “Financial crime: a guide for firms”. The amendments are effective from 12 June 2014. In addition the FCA has published a summary of feedback to the […]

More than 42,000 financial crimes involving millions of dollars in losses were uncovered in Russia in 2013, President Vladimir Putin said Tuesday. He gave no figure for the exact losses last year from financial crime, but said that more than 20 billion rubles ($554 million) in damages had been caused in the past three years. […]

Clive Adamson, Director of Supervision, FCA, has given a speech entitled “Ensuring the UK remains open for business – requirements for foreign-owned firms” at the Association of Foreign Banks. Mr Adamson’s speech covered the following topics: • what conduct regulation means for firms; • how the FCA is supporting evolving business models; • the role of senior management; […]

The FCA has published its July newsletter and the contents include: Financial Crime Conference P2 New report: our ‘concern’ about P2 money laundering and terrorist financing risks in trade finance Blowing the whistle P2 EFG Private Bank fined £4.2m P2 Financial crime and the FCA: P3 your questions answered International update: P3 Financial Action Task […]

In the first anti-money laundering annual report published by the FCA on the 1st August 2013, the FCA has concluded that the level of anti-money laundering compliance in financial services firms is a “serious concern”. The report explains the FCA’s obligations relating to anti-money laundering, its approach to carrying out those obligations and current and […]