investigation

UK E-Money Giant Shuts Down Following AML Concerns

Prominent UK-based electronic money company Transactive Systems Ltd will cease operations after a decision by regulators to revoke its licence amid rising concerns over money laundering. The move comes after a rigorous investigation over the past few years by regulatory bodies into the firm’s anti-money laundering (AML) practices. Last year, the Bank of Lithuania, which had granted subsidiary company Transactive Systems UAB its operating licence, fined the payments firm €280,000 and revoked its licence for… Read More »UK E-Money Giant Shuts Down Following AML Concerns

AML (Anti Money Laundering) and Compliance

Manager Faces Personal Penalties After AML Breach

If you are concerned that your current AML policy is out of date, not robust enough, or you simply want to review your processes and adequately train your staff, please get in contact with our team of experts that have years of experience in this field.

AML (Anti Money Laundering) and Compliance

HSBC fined £63.9m for AML failures

In December 2021, the UK financial regulator fined HSBC a charge of £64m and rebuked the bank for “serious weaknesses” in its AML controls in recent years.