I so welcome the Unexplained Wealth Orders and I am grateful to those people in the background who have brought about this legislation.
For the record, it was substantially the dedication, professional and outstanding detective ability on the part of United States federal agents which led to the actions taken against the bank including the imposition of a financial penalty of $160 million. You see the airline industry is direct, it doesn’t accommodate nonsense. Subscribe to future episodes… Most recently one bank has started to use AML in an advertising campaign, within which the bank references the efforts made to track funds and share intelligence related to the illegal trade in ivory which results in the unlawful killing of thousand is elephants every year. Why are we so poor at KYC? He now applies his experience to the analysis and subsequent commentary of current compliance investigations and settlements.
Consequently, the Head of Compliance and his well rewarded lieutenants viewed the scorecard as the most important document in the entire compliance programme. We also use third-party cookies that help us analyze and understand how you use this website. That said, I did go a step further than my colleagues and I blew the whistle. As such bankers have a duty to seek out deposits, they are rewarded for doing so and almost never held accountable for taking in dirty deposits. We need to show them the link between violent crimes and the laundering. Sadly it is not.
Well we have had major AML crashes in major banks for the past ten years, and what information and lessons have been shared? Yes, they do, but once again I ask, are they applying government policy? ă\j��H��N)���yyi��$��u�=K�,���9�w�xk�:���:�x�R���xO��#7�ز@M(�^�)�AI.������"�s��6�)���n��2���i֘f�f�b2��"�z�<2l���K�RL�Q�S�f>�e�e�ρF��s�R�L�^0[A���0�"�*�q^D��;��� �t���ɡ��q� _ǓUQb�Tm>4�T�sT�s��?��N:ρ We await the outcome of regulatory and criminal investigations, albeit, we already know that the UK authorities as well as those in Denmark and Sweden have refused to initiate an investigation or prosecution based upon the substantial evidence of money laundering provided by Bill Browder.
As a former police officer, I was accustomed to confronting those who break the law in order to ensure they were held to account and prevented from breaking the same law or more laws. Most recently the FCA published a thematic review (TR19/4), titled ‘Understanding the Money Laundering Risks in the Capital Markets’ Within the review at 1.7 the FCA states the following: ‘We found that participants were generally at the early stages of their thinking in relation to the moneylaundering risk and need to do more to understand their exposure’. Answer no and see how far it gets you. 8 0 obj ���� JFIF � � ��jExif MM * c z � �( 1 �2