Former footballer Richard Rufus involved friends, family, and associates in a pyramid scheme in which a total of £15M was invested with him. Using his status as a former athlete to appear wealthy and successful, he claimed he was a foreign exchange trader and convinced his victims to invest in what he said were low-risk schemes. Ultimately he failed to make a profit from his trading activities. The Pentecostal church, which had invested with him, lost its £5m. Of the £15m paid to accounts controlled by Rufus, investors received back a total of around £7.6m. He was tried and convicted and received a jail sentence of 7 and a half years. Rufus was found guilty of fraud, money laundering and carrying out a regulated activity without authorisation.
The case raised a number of red flags–including the big one that Rufus was not regulated–that should have been picked up on but weren’t. Investors were blinded by Rufus’ charm and flashy lifestyle.
Read VinciWorks’ case study
VinciWorks new case study about the scam explains what happened, how Rufus was caught, what the penalties were, and what the red flags in the case were. The case study also includes important information on how to protect yourself from financial investment fraud and and what to do if you’ve been a victim of financial investment fraud.
AML training suite – relevant training for all staff
VinciWorks strives to make its AML training more than simply a tick-box exercise. Click here to learn more.
At a glance: AML ongoing monitoring
Automating the ongoing monitoring process can be the key to an effective and successful AML programme. Our one-page guide to ongoing AML monitoring provides a succinct and informative overview of ongoing monitoring including a definition, tips on how to comply with AML ongoing monitoring regulations, and answers the questions of who needs to be checked during ongoing monitoring, when to do CDD reviews, and what has to be recorded during ongoing monitoring.
What do I need to check during ongoing monitoring? When do I need to do a CDD review? What do I need to record during ongoing monitoring? Ongoing monitoring is an essential part of an effective anti-money laundering programme and it’s essential to stay on top of compliance requirements to avoid exposure to financial crime and penalties. But keeping on top of the many details of all of the requirements can be challenging. A few months ago we published an in-depth guide to ongoing monitoring, but sometimes it’s helpful to have a short cheat sheet within easy reach to ensure you’re staying in line with the regulations.
They want to know how your law firm handles financial sanctions
Last month, the Solicitors Regulation Authority (SRA) released a questionnaire compelling law firms to report on their firm’s approach to financial sanctions. The survey is due on May 31.
A few of your key questions about this survey are answered here.
Six men were recently convicted of taking part in a £30m money laundering scam which involved passing dirty money through a road haulage firm. The leading operator was sentenced to 14 years imprisonment, while another person involved was sentenced to five years, and others to three and a half years and eight years respectively.
VinciWorks new case study about the scam explains what happened, how the criminals were caught, what the penalties were, and what the red flags in the case were.
Did you know the UK ranks second highest among money laundering hot spots worldwide? It’s estimated £88 billion is laundered every year.
Financial institutions are responsible for catching the bad actors to prevent and stop money laundering. But unfortunately, it’s not always easy to identify who they are.
In this webinar, our experts, Nick Henderson, Naomi Grossman and Sandra Erez, explore money laundering, how it impacts financial services firms, and what firms can do to protect themselves.
The webinar covered:
The importance of having risk assessments in place
Best practices for client due diligence
Understanding money laundering legislation – staying compliant or facing the consequences
How to identify red flags in financial transactions
What we can learn from recent high-profile money laundering fines
Organisations have increasingly shown their commitment to sexual minority employees and customers with inclusive marketing and rainbow advertising.
But what concrete steps should organisations take to support their sexual minority staff, and how can businesses celebrate Pride when there are still so many challenges that LGBTQ+ individuals face worldwide?
Join us for an in-depth webinar where we will hear from experts in the field and draw on lived experience interviews to look at the challenges that sexual minorities encounter in the workplace and what organisations can do to enable them to feel comfortable being themselves at work.
Our panel is made up of LGBTQ+ individuals and allies, along with interviews from several LGBTQ+ leaders and speakers.
This webinar will cover:
– Why sexual orientation is important to a person’s identity – The stereotypes that sexual minority individuals face in the workplace – The challenges and rewards of being out at work – Policies and procedures to support sexual minorities – Steps for creating a workplace culture where people can bring their whole selves to work – What is Pride, and why does it matter?
The EU’s General Data Protection Regulation (GDPR) has now been in force for five years. During that time, fines have totalled close to €2.8 billion, with over €1 billion in fines coming in the past 12 months. The most recent fines show that both large and small businesses are subject to regulators’ scrutiny.
Listen again to our webinar on GDPR’s fifth anniversary to look at the effect the regulation has had on the way we collect and process data and what we can expect going forward. We were joined by our own in-house DPO and went through the key developments in GDPR from across the EU.
The webinar will cover: – A review of where businesses are falling short in GDPR compliance – What can we learn from recent GDPR fines and enforcement actions? – An update on the UK government’s proposed GDPR reforms – The GDPR risks of AI services like ChatGPT – Best-practice guidance – How to take your GDPR compliance to the next step
In the last year in the UK, there were over 78,000 reportable injuries at work in the last year. At least 2 million sick days are taken because of back pain – two thirds of which could have been avoided through the use of safe manual handling techniques. Most manual handling injuries actually do not occur as a result of intense or strenuous activities or unexpected events such as a fall, but rather are the result of cumulative strain, i.e. gradual wear and tear caused by day to day tasks.
What is manual handling in the workplace?
Manual handling in the workplace refers to any activity that involves the lifting, carrying, pushing, pulling, or moving of objects or people by hand. It is a common task in many industries and workplaces, ranging from offices to construction sites, warehouses, healthcare facilities, and more.
Manual handling tasks can include activities such as lifting boxes, stacking shelves, moving equipment, transferring patients, and handling tools or machinery. While manual handling is a necessary part of many jobs, it can pose various risks to the health and safety of workers if not performed correctly.
Who is responsible for safe manual handling at work?
In the United Kingdom, the responsibility for safe manual handling at work primarily rests with employers. They have a legal obligation to ensure the health and safety of their employees under the Health and Safety at Work Act 1974 and associated regulations.
The importance of manual handling at work
Effective manual handling practices are of paramount importance in the workplace. By prioritising safe manual handling techniques, employers can significantly reduce the risk of musculoskeletal injuries and promote the overall well-being of their staff. Proper manual handling not only safeguards employees from immediate harm but also helps prevent long-term health problems, such as back injuries and repetitive strain injuries. By providing appropriate training, implementing control measures, and fostering a culture of safety, employers can create a work environment that values the physical health and safety of their employees. Prioritising manual handling safety contributes to increased productivity, reduced absenteeism, and improved job satisfaction, ultimately leading to a more efficient and healthier workplace.
What are the 4 key factors of manual handling?
The four key factors with respect to manual handling are commonly referred to as “TILE.” Each letter in TILE represents an important aspect of manual handling.
Task: This refers to the nature of the manual handling task being performed, such as lifting, carrying, pushing, or pulling objects. It involves considering the weight, size, and shape of the objects being handled.
Individual: This factor focuses on the capabilities of the individual involved in manual handling. Considerations include their physical fitness, experience, training, and any pre-existing medical conditions or limitations.
Load: The load factor involves assessing the characteristics of the object being handled. This includes its weight, stability, shape, size, and any potential hazards associated with it. It also encompasses factors such as the need for team lifting or the use of mechanical aids.
Environment: The environment factor considers the surrounding conditions in which manual handling takes place. This includes factors such as the layout of the workspace, the presence of obstacles or uneven surfaces, lighting, temperature, and any other potential hazards or risks present in the environment.
Manual handling at work: a guide
VinciWorks and DeltaNet have produced a valuable, in-depth guide to manual handling. The guide provides a background to the topic and explains what the risk factors are with regard to cumulative strain caused by manual handling. The guide sets out the legal requirements on employers and goes through different types of manual handling and the risks involved in each type. Readers are taught how to identify red flags, how to conduct a risk-assessment, and how to reduce the risk of injuries.
Any organisation whose workers engage in manual handling will benefit from this guide that sets out your legal obligations as an employer, explains the risks and how to make sure workers are able to perform their jobs safely and effectively and prevent lost productivity, increased absenteeism and reduced quality of life for affected workers.
DeltaNet provide market-leading Compliance, Health and Safety, and Performance online training solutions that fit the needs of your business. Click here to learn more.
FAQs on manual handling training
What is manual handling training?
Manual handling training refers to the process of educating individuals on safe techniques and practices for handling objects manually.
What is the purpose of manual handling training?
The purpose of manual handling training is to provide individuals with the necessary knowledge and skills to minimise the risk of injuries and promote safe working practices when lifting, carrying, pushing, or pulling objects.
Do staff need to do manual handling training?
All staff members that are involved in manual handling activities should undergo manual handling training. It’s important for organisations to provide this training to ensure the safety and wellbeing of their employees.
How long does manual handling training take?
The duration of manual handling training can vary depending on several factors, including the specific content being covered, the training provider, and the needs of the participants. Generally, manual handling training courses range from a few hours to a full day. The specific duration of manual handling training should be determined based on the needs of the participants and the scope of the training program being implemented.
Is manual handling training a legal requirement?
Under UK health and safety regulations (Manual Handling Operations Regulations 1992), employers have a legal duty to assess and manage the risks associated with manual handling activities.
It’s time to look at how your firm handles designated persons
The Government’s financial sanctions regime is continually changing. It was created with national security objectives in mind and law firms play a critical role in its implementation. So much so that the sanctions regime applies to all firms that provide legal services, a broader bucket than just those that are covered by the anti-money laundering (AML) regulations.
The Solicitors Regulation Authority (SRA) just released a new questionnaire compelling law firms to report on their firm’s approach to financial sanctions.
Global investment bank Credit Suisse and a former employee were found guilty in a Swiss federal criminal court of failing to prevent money laundering, in a case that should serve as a wake up call for Swiss banks and financial institutions worldwide.
In our new series of AML case-study one-pagers, VinciWorks has produced an insightful case study for this incident, which marks the first time a Swiss bank has been subject to such criminal prosecution.
The case study goes through the details of the case, assesses what they did wrong and which red flags should have been raised. Then the study lays out the penalties, and what the risk indicators were. Finally, the guide sets out a postscript telling where the main players are today.
The Credit Suisse case study can provide valuable lessons for financial and other organisations on how to improve their AML compliance, risk management, due diligence, corporate governance, and ethical practices.
Also check out our podcast episode on the Credit Suisse case, part of our podcast series, “The Money Laundering Files”, available both on our website and wherever you get your podcasts.
AML training suite – relevant training for all staff
VinciWorks strives to make its AML training more than simply a tick-box exercise. Click here to learn more.
At a glance: AML ongoing monitoring
Automating the ongoing monitoring process can be the key to an effective and successful AML programme. Our one-page guide to ongoing AML monitoring provides a succinct and informative overview of oingoing monitoring including a definition, tips on how to comply with AML ongoing monitoring regulations, and answers the questions of who needs to be checked during ongoing monitoring, when to do CDD reviews, and what has to be recorded during ongoing monitoring.
