by Jyotsna Bucktowar | Nov 2, 2023
The SFO has now the authority to require the submission of information or the production of documents to aid in its investigations, this in conjunction with the introduction of the new “failure to prevent fraud” offence and the corporate criminal liability...
by AdrianaAMLP | Oct 26, 2023
The Act brought the most substantial changes in preventing the abuse of the register, new ‘failure to prevent fraud’ offence and enhanced law enforcement powers…
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 | Aug 3, 2022
UK ML/TF (Amendment) (No. 2) Regulations 2022 come into force on 1 Sept 22 extending the scope of BO reporting discrepancies among others. Reg 13 makes it clear that supervisory authorities can directly require members to show them SARs “to help them in...
by AdrianaAMLP | Jun 1, 2022
The aim of the Act is to increase the transparency of ownership of UK property by overseas entities, by identifying the beneficial owners of those entities. ‘Overseas entities’ owning ‘qualifying property’ are required to register and…
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