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Resource Centre
Over 20 years of articles and reference materials
The AMLP Resource Centre is much more than just another news page. We have curated a broad range of reference materials, Legs/ Regs, guidance, articles and papers from organisations and centres of excellence around the world thus ensuring that you have access to the most up-to-date information, and all in one place. We pride ourselves on offering our members the most comprehensive professional development resources available.
Money Laundering
FCA sends ‘Dear CEO letter’ to Annex 1 firms to complete a financial crime gap analysis over ML failings
The FCA is asking Annex 1 Firms to carry out a gap analysis against the failings it has identified in the market, and to take immediate steps to close any identified gaps, with the implication being that the FCA will carry out further reviews to assess how firms have performed in this regard….
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Anti-Bribery & Corruption
TI Switzerland publishes research on incidence of foreign corruption among Swiss companies
The online survey of 539 Swiss companies operating abroad, spanning various sizes and sectors, revealed that 52% face demands for under-the-table payments. Of these, 63% admit making such payments, according to the survey. More than half of Swiss companies are confronted with claims…
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Human Trafficking
Europol releases new podcast on ‘Halting People Smugglers’ highlighting the biggest operations it has supported
In this episode Europol and authorities from Hungary and Austria tell the story of the Burgenland Corpses Discovery, one of Europe’s most tragic migrant smuggling cases. In 2015, at the height of the European Migrant Crisis, a terrible tragedy struck when reckless criminal actions cost 71 innocent lives…
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Wildlife & Environmental Crimes
Global Witness publishes new research on ranching in Brazil’s cattle capital, Mato Grosso state and impact on deforestation
Deforestation linked to the Brazilian trio was nearly five times greater in the Cerrado area of Mato Grosso than in its Amazon territory, where in the latter the companies have legal agreements for monitoring their supplies. One in three cows (36%) that the companies bought from the Cerrado within Mato Grosso came from farms with illegally deforested land…
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Sanctions & Trade Embargoes
OFAC publishes Tri-Seal Compliance Note: obligations of foreign-based persons to comply with US sanctions and export control laws
This Note highlights the applicability of U.S. sanctions and export control laws to persons and entities located abroad, as well as the enforcement mechanisms that are available for the U.S. government to hold non-U.S. persons accountable for violations of such laws, including criminal prosecution…
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Fines & Lessons Learned
RBS Bank fined £1m by Isle of Man regulator for breaching its AML/CTF code
The Isle of Man’s Financial Services Authority (FSA) issued the £1,440,481 fine after the bank breached the AML/CTF Code 2015. The fine amount has been subsequently reduced to £1,008,337. The FSA found that RBSI was unable to demonstrate that its up-to-date Customer Risk Assessment process was brought into use in a ‘timely manner’ following the introduction of the Code…
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On the web
allAfrica: The Central Bank of Nigeria revokes the operational licences of 4,173 Bureaux De Change operators in the country over failure to adhere to AML/CTF Guidelines
Reuters: French banking watchdog flags possible fraud at Leonteq to prosecutors
Reuters: Bank of Japan Chief warns of financial risks amid Asia’s digitalisation surge
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Must read
The NCA issues the SARs Reporter Booklet February 2024, summarising law enforcement feedback on the usage of SARs
Multiple reporters submitted a number of DAML SARs to return funds while exiting their relationship with the same business. Concerns
were held regarding multiple accounts held by the business, which frequently received high value payments that were transferred
in and out of the accounts, indicating potential money laundering…
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