On 5th December 2023, HM Treasury unveiled a revised list of high-risk third countries, aligning with the latest recommendations from the Financial Action Task Force
Tag: Money Laundering
In a recent development, the Financial Conduct Authority (FCA) has fined ADM Investor Services International Limited (ADMISI), a prominent broker, a staggering £6,470,600. This substantial
The European Banking Authority (EBA) recently released its comprehensive report on the risks associated with money laundering and terrorist financing (ML/TF) in EU payment institutions.
In today’s fast-paced business environment, financial crime is becoming an increasingly significant concern for firms of all sizes. Activities such as money laundering, fraud, and
It has been noted, that in 2022 the number of regulatory enforcement powers exercised by the UK’s Financial Conduct Authority (FCA) increased. Fines issued by
Last week, the threshold for reporting a Defence Against Money Laundering (DAML SAR) changed from £250 to £1,000 in the UK, relevant to banks, deposit
On 14 November 2022 HM Treasury published a revised list of high-risk third countries. Under the Money Laundering, Terrorist Financing and Transfer of Funds (Information
London-based challenger bank Gatehouse has been handed a £1.5m fine from the Financial Conduct Authority (FCA) over a failure to conduct proper anti-money laundering checks.