Three men have been charged with conspiracy to defraud investors in an alleged investment fraud related to electrical contracts in the hotel sector. The three men; Jolan Marc Saunders, Michael Dean Strubel, and Spencer Mitchell Steinberg were charged in connection with Saunders Electrical Wholesalers Limited, for making false representations that the company had high value contracts […]

 The European Commission have published a speech by Cecilia Malmström on ‘Anti-money laundering as part of the fight against organised crime’. During the speech Ms Malmström outlines a number of AML initiatives for the coming year. Of particular interest Ms Malmström said that the final decision had yet to be made on whether to propose a […]

 The European Parliament’s special committee on organised crime, corruption and money laundering, has  published a draft Interim Report on organised crime, corruption, and money laundering.  This sets out a motion for a European Parliament resolution on recommendations on actions and initiatives to take in relation to corruption, money laundering and organised crime: such as:   When […]

The Financial Action Task Force (FATF) has published a statement made by Bjorn Aamo, FATF President. Mr Aamo welcomed the European Commission’s proposed Fourth Money Laundering Directive (MLD4), which he considers is broadly consistent with the FATF’s February 2012 revised recommendations. He hopes MLD4 will be adopted in the near future. Mr Aamo also commented on […]

 The Financial Action Task Force (FATF) has  published a National Money Laundering and Terrorist Financing Risk Assessment. The guidance is intended to assist countries conduct risk assessments at a country or national level. The principles described in this guidance are also relevant to more focussed risk assessments, for example of a particular financial sector.  The guidance […]

 HM Treasury has published a revised financial sector advisory notice on money laundering and terrorist financing controls in overseas jurisdictions. The notice contains advice issued by the Treasury about risks posed by unsatisfactory anti-money laundering and counter-terrorist financing controls in a number of overseas jurisdictions. The main changes from the last notice issued by HMT […]

 A former Surrey police constable has pleaded guilty to two offences of misconduct in a public office and has admitted selling information, including details about footballer John Terry’s mother, to the Sun newspaper.  http://sites.herbertsmithfreehills.vuturevx.com/38/4411/landing-pages/united-kingdom.asp?intEmailHistoryId=2264559&intExternalSystemId=1

Compliance functions as strategic partners in the new regulatory world  How regulated firms (re-)structure their Compliance functions to respond to, or preferably pre-empt, these complex challenges will encompass the range of culture, strategy and people. Not only the function’s composition, but also its role and voice within the business and overall risk management framework, should […]