Related insights: Financial Crime Prevention
Sanctions and AML Act: Sanctions laws in one place?
01 Aug 2018
The Sanctions and Anti-Money Laundering Act 2018 (SAMLA) has now received Royal Assent. Its prime purpose is to ensure the UK can impose financial and trade sanctions and related measures after Brexit, but the Government has taken the opportunity to fine-tune other aspects of anti-money laundering (AML) and terrorist financing (TF) laws.
FCA plans financial crime guide update
18 Apr 2018
It's been quite some time since FCA updated its Financial Crime guide (FC). The guide, introduced in 2011, and last significantly updated a few years ago, provides useful context on FCA's expectations of how firms that fall under its regulatory remit should best protect themselves against financial crime risks.
MLD5: virtually there?
17 Jan 2018
From the time the fourth Money Laundering Directive (MLD4) was adopted, there was call for change, and significant political pressure to introduce at least some changes to be implemented within the agreed MLD4 timeline. The original proposals for change (known as the fifth Money Laundering Directive (MLD5)), published in July 2016, even called for MLD4 implementation to be fast-tracked, to January 2017.
Emma Radmore wins award for most outstanding compliance trainer
06 Dec 2017
Womble Bond Dickinson's Emma Radmore has won the award for Most Outstanding Compliance Trainer at the Compliance Register Platinum Awards 2017.
Sanctions and Anti-Money Laundering Bill starts Parliamentary Process
06 Nov 2017
The Government has introduced the Sanctions and Anti-Money Laundering Bill (the Bill) into Parliament. It started its Parliamentary process in the House of Lords on 18 October and follows consultation and announcements from earlier in the year.
Extending the SMCR: What firms need to know
04 Oct 2017
FCA's consultation paper (CP 17/25), published in July, sets out its proposals for extending the Senior Managers and Certification Regime (
Failure to prevent facilitation of tax evasion: are your procedures in place?
25 Sep 2017
With just a few weeks to spare before the Criminal Finances Act 2017 (CFA) offence of failure to prevent the criminal facilitation of tax evasion takes effect on 30 September, the Chancellor of the Exchequer, through the Facilitation of Tax Evasion Offences (Guidance about Prevention) Regulations 2017, has confirmed the HMRC guidance (the Guidance), updated on 1 September, will take effect on the same date as the offence.
The Criminal Finances Act 2017
25 Aug 2017
The UK Government published its Action Plan for anti-money laundering (AML) and counter-terrorist finance (CTF) (the Action Plan) in April 2016. It asked for views on what changes it should make to legislation, and how it might reform the AML and CTF regime.
Money Laundering Regulations 2017: what do they mean for CDD?
24 Mar 2017
Suddenly there is a sense of urgency around the UK's implementation of the fourth Money Laundering Directive (MLD4). Following Treasury's initial consultation on how to implement MLD4 in September 2016, it has now published the feedback to that consultation and the draft Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (the MLR 2017). Time is now running short, and the legislation must be in force by 26 June
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