- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
A study of suspicious activity reporting data in the United Kingdom suggests accountants, lawyers, estate agents, and other service-facing professionals could be doing more to contribute to the fight against financial crime.
THIS IS MEMBERS-ONLY CONTENT. To continue reading, choose one of the options below.
News and analysis for the well-informed compliance or audit exec. Select an option and click continue.
Annual Membership $499 Value offer
Full price one year membership with auto-renewal.
Membership $599
One-year only, no auto-renewal.
The Financial Crimes Enforcement Network is requesting comment on a pilot program that would allow financial institutions to share suspicious activity reports with foreign branches, subsidiaries, and affiliates.
With 2021 nearing its end, Jon Prentice of the International Compliance Association recaps three major compliance topics and talking points that have stood out this year.
Times and technologies change, but the fundamental means by which criminals attempt to launder money and carry out their nefarious acts are still rooted in the same criminal process.
The U.K. has an ongoing problem with money laundering, but recent changes to economic crime law and corporate registration requirements could bring more cases to court, according to consultancy KPMG.
Enforcement actions in the first half of of 2024 by the Treasury Department’s Financial Crimes Enforcement Network highlight the importance of proactive measures in Bank Secrecy Act compliance rather than just being compliant.
The U.K Financial Conduct Authority published findings showing that financial services firms are implementing its guidance on politically exposed persons related to anti-money laundering inconsistently, with experts warning firms of reputational damage arising from potential enforcement.
