The so-called “Troika Laundromat” fraud, uncovered after one of the largest banking information leaks ever, highlights the ever-growing importance for those within the regulated sector to implement robust customer due diligence (“CDD”) policies which are tailored to the specific money laundering risks posed by their customers.
The last decade or so has seen the job of detecting financial crime in the UK increasingly outsourced to businesses and professionals in the private sector.
BCL’s Serena O’Dea discusses the House of Commons’ Treasury Select Committee report, entitled ‘Economic Crime – Anti-Money Laundering Supervision and Sanctions Implementation’, published on Friday 8 March 2019 calling on the government to review the UK approach to economic crime.
BCL partner, John Binns has been quoted in Raconteur‘s ‘Future of Money’ special report, featured in The Times, titled “How Brexit will impact the fight against corrupt wealth”.
With the European Banking Authority’s (AMB) recently awarded status as the European Union’s head anti-money laundering watchdog, it has now launched a new investigation into possible regulatory failures related to Danske Bank, Law360 reports.