The General Data Protection Regulation (GDPR) is a law that governs how organisations process personal data.
AML and Compliance
‘Big Four’ member consultancy firm Ernst & Young (EY) has repaid banking group Santander £15m after it failed to help the Spanish lender improve its anti-money laundering (AML) controls, reports suggest.
The Financial Conduct Authority (FCA) has issued a final warning to cryptoasset firms marketing to UK consumers, and those supporting them, to prepare for the new financial promotion regime.
The UK government’s plans to reform the country’s anti-money laundering (AML) regime will expose accountants and other businesses to a greater risk of financial crimes, professional body the Association of Accounting Technicians (AAT) has warned.
Accountants are being warned to keep up to date with their Anti-Money Laundering (AML) compliance requirements to avoid falling foul of the law.
UK universities and other institutions for higher education are vulnerable to money laundering due to many continuing to accept cash payments, leading to calls for stricter anti-money laundering (AML) controls for the sector.
Customer due diligence (CDD) is a key part of Anti-Money Laundering (AML) requirements and a crucial compliance obligation for regulated firms.
Changes to AML Legislation: FCA Sets Expectations for UK Crypto Businesses Complying with The Travel Rule
The Financial Conduct Authority (FCA) has recently released guidelines outlining expectations for UK cryptoasset businesses in complying with the Travel Rule.
A proposed addition to the identification doctrine in the Economic Crime and Transparency Bill could see more companies facing prosecution.
Money laundering is a financial crime. It involves taking proceeds that have been obtained from a criminal source (also known as ‘dirty money’) and disguising its origins so that it appears to have been acquired legitimately.