The Basel AML Index 2015 Report summarises the key findings and provides a detailed explanation about our methodology. See also what is new in the 2015 edition and the recent changes in our methodology. The annual review section outlines the main discussions and feedback received from external experts with academic, supervisory and law enforcement […]

In Krolls 2015 ABC Report, Kroll asked respondents to identify what they considered to be the type of corrupt behavior the chief compliance officer must guard against. The primary answers are bribery (93%), money laundering (61%), bid-rigging (60%), and price fixing (56%). Trailing further behind “the big four” corruption risks are conflict minerals (27%) and […]

FCA Fines Bank of Beirut (UK) Ltd, Compliance Officer And Internal Auditor For Providing Misleading Information To The FCA A decision report and comment on the FCA’s decision in March 2015 to fine and publicly censure a bank, its compliance officer and its internal auditor for providing misleading information to the FCA. The bank in […]

This notice draws your attention to an Advisory Notice recently issued by HM Treasury regarding the risks posed by unsatisfactory money laundering and terrorist financing controls in a number of jurisdictions. The Advisory Notice can be found at the following URL address: http://bit.ly/1uAOdqK http://bit.ly/1jjHFKW This advice supersedes previous advice issued by HM Treasury in connection […]

The global anti-money laundering standard-setter has identified 15 countries it says have failed to take adequate steps to combat money laundering and terrorist financing. At the top of the Financial Action Task Force’s list are     Iran and     North Korea, both of which have pushed forward with nuclear programs despite U.S. objections and sanctions. […]

Gaining Objective Geopolitical Risk Assessment – Geopolitical risk is often viewed as too difficult to assess objectively, too complicated to measure and too uncertain to manage. Subsequently, institutions are reluctant to include this type of risk in their decision making. This paper, however argues that ‘up-to-date, objective, tailored, and multi layered analyses of regions and […]

How NZ needs to overcome ‘deficiencies” in bank and financial institution regulation to get back on EU anti money laundering and counter terrorist financing ‘White List’ – New Zealand could be off a European Union list providing guidance for EU banks and financial institutions about countries with EU equivalent money laundering and anti terrorist financing […]

Castlestone Management Inc products in offshore probe – British Virgin Islands’ financial regulator has asked Grant Thornton to investigate funds managed by firm. Castlestone Management Incorporated has become involved in a regulatory investigation in the British Virgin Islands (BVI) after the watchdog there launched a probe into its funds, Investment Adviser can reveal. The BVI’s […]