-
Posted in
Financial Crime and UK & Europe News
Cyprus Money-Laundering Crackdown Has Deficiencies, Report Shows
Cyprus’s attempts to stop money laundering, required as part of a 10 billion-euro ($12.9 billion) international rescue, have “systemic deficiencies,” according to a report by Deloitte Financial Advisory Srl.
Source: Bloomberg, 15/05/2013 -
Posted in
UK & Europe News
FSA ramped up use of section 166 powers in final year
Cost to firms of producing skilled persons reports was said to be £32m for the 2010-2011 financial year.
Source: FT Adviser, 08/05/2013 -
Posted in
Financial Crime and FCA/PRA News
Two arrested in FCA insider dealing investigation
On the 30 April the Financial Conduct Authority (FCA) with the assistance of the City of London Police Economic Crime Directorate executed a search warrant in West London. Two people, a man aged 41 and a woman aged 37, were arrested and questioned in connection with an investigation in to insider dealing and market abuse.
Source: FCA, 03/05/2013 -
Posted in
Financial Crime and UK & Europe News
FCA fines private bank £4m over money laundering controls
Close to half of firm’s files highlighted risks, with 13 of these related to allegations of criminal activity.
Source: FT Adviser, 24/04/2013 -
Posted in
Financial Crime and Asia News
Risk ranking: China revamps anti-money laundering rules
Chinese banks must rate their clients' risk of criminal conduct on a scale of 1-5 as part of the central bank's moves to curb money laundering and fraudulent transactions estimated at hundreds of billions of dollars a year.
Source: Reuters, 17/04/2013
