July 15, 2019
Richard Baldwin was convicted of dealing in criminal property between October 2007 and November 2008. The criminal property laundered was £1.5 million representing the proceeds of a conspiracy to insider deal by Martyn Dodgson and Andrew Hind. Mr Baldwin used off-shore companies, bank accounts and false invoices to effect his money laundering.
May 20, 2019
The FMA carried out a risk-based assessment of independent audit reports for reporting entities it supervises in February this year, targeting 69 reporting entities. The FMA supervises around 800 reporting entities, of whom roughly two-thirds define themselves as financial advisers.
April 15, 2019
The Financial Conduct Authority (FCA) has fined Standard Chartered Bank (Standard Chartered) £102,163,200 for Anti-Money Laundering (AML) breaches in two higher risk areas of its business. This is the second largest financial penalty for AML controls failings ever imposed by the FCA.
April 4, 2019
The Financial Markets Authority (FMA) has published an Anti-Money Laundering and Countering the financing of terrorism (AML/CFT) monitoring report setting out the areas requiring further attention by the management and boards of the reporting entities it supervises.
Former company director and two pre-insolvency advisers charged with breaching director duties and money laundering
March 6, 2019
It is alleged that these three men acted jointly to remove funds before the company wound up in liquidation breaching director duties and money laundering.
February 11, 2019
To ensure a strong and effective Anti-Money Laundering and Anti-Terrorist Financing Regime for Canadians, FINTRAC is committed to helping businesses comply with their obligations under the Act. Compliance with the Act brings transparency to certain financial activities, helping to deter criminals and terrorists from operating within the legitimate channels of Canada’s economy. It also ensures that FINTRAC receives the information that it needs to generate financial intelligence for Canada’s police, law enforcement and national security agencies.
December 21, 2018
FINRA announced today that it has fined UBS Financial Services Inc. (UBSFS) $4.5 million and UBS Securities LLC (UBSS) $500,000 for failing to establish and implement anti-money laundering (AML) programs reasonably designed to monitor certain high-risk transactions in customer accounts.
December 18, 2018
During its meeting on 7 December 2018, the Federal Council adopted a report on the legal framework for blockchain and distributed ledger technology (DLT) in the financial sector.
December 8, 2018
The Financial Conduct Authority (FCA) has today published a Decision Notice in respect of Mohammad Ataur Rahman Prodhan, the former Chief Executive Officer of Sonali Bank (UK) Limited (SBUK), fining him £76,400.