In a recent judgment, the English High Court for the first time ruled on a sanctions de-listing case under Section 38 of the Sanctions and Anti-Money Laundering Act 2018 (“SAMLA”). Following the UK’s departure from the EU,...more
The Final Notice against Guaranty Trust Bank (UK) Limited (“GT Bank”) follows on the heels of similar enforcement actions against financial institutions for AML systems and controls breaches, continuing to make good on the...more
Key Takeaways -
The FCA has recently fined JLT Specialty Limited and Ghana International Bank for limitations in their financial crime systems and controls, specifically weaknesses relating to anti-money laundering (AML)...more
7/14/2022
/ AML/CFT ,
Anti-Money Laundering ,
Bribery ,
Corruption ,
Cryptoassets ,
Enforcement Actions ,
Financial Conduct Authority (FCA) ,
Financial Crimes ,
Money Laundering ,
UK ,
White Collar Crimes
In the early hours of 15 March 2022, following a wait of almost five years, the UK Parliament introduced into law the Economic Crime (Transparency and Enforcement) Act (the "Act"). The Act was fast-tracked at an...more
3/22/2022
/ Anti-Corruption ,
Anti-Money Laundering ,
Corruption ,
Financial Crimes ,
Foreign Investment ,
Money Laundering ,
Pending Legislation ,
Regulatory Reform ,
Regulatory Standards ,
UK ,
Unexplained Wealth Orders (UWOs) ,
White Collar Crimes
The British Parliament has recently published two important post-legislative assessments of the effectiveness of the UK’s financial crime legislative framework, as well as an insight into future areas of focus....more
3/29/2019
/ Anti-Money Laundering ,
Corporate Misconduct ,
Deferred Prosecution Agreements ,
Failure to Prevent ,
Financial Conduct Authority (FCA) ,
Financial Crimes ,
Legislative Reports ,
Ministry of Justice ,
Office of Financial Sanctions Implementation (OFSI) ,
Person with Significant Control (PSC Register) ,
Self-Reporting ,
Serious Fraud Office (SFO) ,
Suspicious Activity Reports (SARs) ,
UK ,
UK Brexit ,
UK Bribery Act ,
UK Criminal Finances Act 2017 ,
White Collar Crimes