From World Money Laundering Report Vol. 2 No. 1 published 22 January 2000
The UK’s FSA has launched it a document called “Financial Services Authority – a New Regulator for the New Millennium”. Written in the kindergarten level English that now seems to be essential for all government public documents, the paper is not a consultative document but more a statement of intent. As such, it should be read against the background of the Financial Services and Markets Bill (“FSMB”).
First published in World Money Laundering Report Vol. 2 No. 1 on 22 January 2000
The individual brings with him or her a threat to the organisation. This threat arises from a number of factors: he or she might be careless, malicious or criminally inclined. Or just plain thick. Or vulnerable for some reason.
From World Money Laundering Report Volume 2 No.1 published 22 January 2000
In previous BASICS columns, we have examined terminology and the resistance felt by staff to new compliance measures. In this issue, we look at a legal topic: that if wilful blindness.
From World Money Laundering Report Volume 2 Number 1 Published January 2000
There is considerable debate, currently, about the use of the term "offshore". the argument is encapsulated by John Moscow, of the office of the District Attorney, New York County: "everywhere is offshore to everywhere else."
What can a government department do when even major newspapers can't get its name right? Jim Sloan, FinCEN's new director, has walked into a situation where the USA's FIU has an identity crisis as well as a range of other problems. And FinCEN is far more than an FIU simpliciter
From World Money Laundering Report Vol. 1 No. 1
Published October 1999
Prediction: within five years, compliance will be at the centre of all financial services businesses in highly regulated markets, taking over from sales and marketing and even audit as the most important area of management of those businesses.
From World Money Laundering Report Vol 1 No 1 October 1999
The key to understanding the detection and prevention of money laundering is to keep it simple. The BASICS column explains the terminology of laundering and the laws, why things are done and everything everyone needs to understand so that the hows and whys of money laundering prevention systems make sense.