by AdrianaAMLP | Jan 11, 2023
The FCA has fined the UK unit of Qatar’s Al Rayan Bank for failing to put in place adequate AML controls. The firm failed to adequately check its customers’ Source of Wealth and Source of Funds when it was required to make sure the money was not connected to...
by AdrianaAMLP | Dec 15, 2022
The FCA found serious and persistent gaps in its anti-money laundering (AML) controls, affecting its Business Banking customers. Santander failed to properly oversee and manage its AML systems, which significantly impacted the account oversight of…
by AdrianaAMLP | Dec 14, 2022
The Proceeds of Crime Order increased the threshold amount from £250 to £1,000 as specified in section 339A of the Proceeds of Crime Act 2002 (c. 29) (“POCA”). The threshold amount is the value of criminal property below which a bank or similar firm…
by AdrianaAMLP | Nov 25, 2022
The NCA has obtained a ruling from the High Court that allows Barclays to hand over criminal funds to the NCA in a first-of-its-kind civil recovery case. The money amounting to over £50m was identified by the bank in a number of accounts and transferred…
by AdrianaAMLP | Nov 18, 2022
OFAC sanctioned La Nueva Familia Michoacana, the violent drug organization behind the increasing U.S. presence of “rainbow fentanyl” and a variety of other deadly drugs. Fentanyl claimed the lives of more than 71,000 Americans last year. The rainbow fentanyl appears...
Recent Comments