Anti-Money Laundering

london corporates legal advice

The new ‘Economic Crime’ levy: What it means for your business.

The government announced in its latest budget plans to introduce a new £100m levy on companies to fight economic crimes. The money garnered from companies could be used to boost public financing of law enforcement technology and in hiring more prosecutors and investigators. The new levy has the potential to affect big corporates, banks, investment firms, accounting firms, estate agents, independent legal advisors, casinos, trust service providers and any financial institution subject to UK Money Laundering Regulations.

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Ensuring compliance with Money Laundering and Terrorist Financing (Amendment) Regulations – John Binns

BCL partner John Binns writes for LexisNexis on the Money Laundering and Terrorist Financing (Amendment) Regulations 2019, SI 2019/1511 which came into force from 10 January 2020, bringing new requirements for financial service providers and others in ‘the regulated sector’ in preventing money laundering and terrorist financing.

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Sanctions, Frozen Assets, Disclosure Risks – The Responsibilities Corporates Have Under Law

BCL partner, John Binns writes for The Treasurer explaining that an awareness of financial crime and the responsibilities corporates have under law is an essential part of risk management.

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John Binns Explains The UK’s Version Of The Magnitsky Provisions & Why They Are Unclear

BCL partner, John Binns explains in his latest article for Open Access Government the provisions inspired by the US’ Global Magnitsky Act to two pieces of UK legislation – the Proceeds of Crime Act 2002 (POCA) and the Sanctions & Anti-Money Laundering Act 2018 (SAMLA).

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The Moratorium Period: What It Does to Your Property, and What to Do When a Court is Asked to Extend It

Few people who receive a notice of an application to extend a moratorium period under the Proceeds of Crime Act 2002 (POCA) will have the slightest idea what it means. An unfortunate effect of the evolution of the POCA regime over the years is that it appears long ago to have ceased trying to be intuitive or to have much if anything to do with common sense.

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