Anti-Money Laundering – why does this keep coming up?
Some would argue that the UK remains a world leading venue for money laundering, hence the regular flow of guidance, publications and consultations from the Treasury, various regulators and industry bodies to ‘help’ firms in the financial sector. One area challenging firms is how to achieve a balance between the FCA’s objectives of fighting financial […]
Politically Exposed Persons – refinement of Money Laundering Regulations
HM Govt have updated the Regulations for Domestic PEPS. The changes come into force on 10th January 2024. Regulation 35 of the Money laundering Regulations requires a Firm to undertake Enhanced Due Dilligence when dating with a PEP. From 10th January 2024, Firms will need to undertake a risk assessment if the Individual is a […]