Inside Barclays’ AML breakdown: Lessons from the FCA’s £42m fine
Barclays Bank has once again come under the regulatory spotlight, this time with a hefty £42 million fine imposed by the Financial Conduct Authority (FCA) for serious lapses in money laundering risk management. The fine, split between two cases involving WealthTek and Stunt & Co, serves as a cautionary tale for all financial institutions, mainly […]
P&L goes public: What the 2027 disclosure rules mean for your law firm
From April 2027, a major shift in corporate transparency will reshape how law firms and all limited companies and LLPs present themselves to the world. Under the Economic Crime and Corporate Transparency Act (ECCTA), these businesses will be legally required to file full profit and loss (P&L) accounts with Companies House. Even small and […]
Case study: How a simple email breach shook the UK Government and sparked a £6bn crisis
In one of the most shocking and expensive cyber security failures in British history, a simple data handling error by a UK defence official triggered a national security crisis, led to the secret relocation of nearly 24,000 Afghan nationals and exposed fundamental vulnerabilities in government systems. This event is a powerful wake-up call for […]
Wise US’s $4.2M AML/CFT settlement: A wake-up call for fintech and financial services firms?
What happened, why it matters and how companies can avoid the same fate The US subsidiary of global fintech giant Wise agreed to a $4.2 million settlement with six state financial regulators. The penalty stems from serious deficiencies found in the company’s anti-money laundering and countering the financing of terrorism (AML/CFT) program during a […]
Leading law firms meet up at AML core group to discuss best practices, hear Ray Blake and more
This past Thursday, July 10, Vinciworks held another in its successful series of AML core group meetings hosted and facilitated by the VinciWorks and Compliance Office team. These meetings have served to create a tight and powerful community of AML professionals in the world’s leading law firms. They have also become an opportunity for these […]
Case study: Menopause at work and what employers can learn from a £29k tribunal payout
In a recent tribunal, Ms. G. Platukyte, an administrative officer at the Ministry of Justice, was awarded £29,065 after her employer withdrew previously accepted work-from-home arrangements for her debilitating menstrual health symptoms which included migraines, severe pain, vomiting and even loss of consciousness. When remote working was withdrawn, Platukyte was forced to choose between attending work in […]
Case Study: How Iran’s crypto exodus became a lesson in modern corruption risk
A nation on the brink In early 2024, amid a storm of collapsing currency, deepening sanctions and soaring public frustration the Iranian rial, already battered by decades of mismanagement and sanctions, entered a freefall. Inflation spiked to nearly 50%, wiping out life savings. Families who once held modest security found themselves suddenly impoverished. Many […]
Case study: How compliance fails sank a gambling giant
The story behind a £4m AML fine, the risks staff overlooked and how you can avoid the same mistakes. A giant falls For 17 years, Celton Manx Limited operated under the Isle of Man’s Gambling Supervision Commission (GSC), building a reputation as a leading online bookmaker through its brand SBOBet. The company appeared […]
Case study: Greed, fraud and missed red flags – The rise and fall of Biscayne Capital
In the early 2000s, Roberto Gustavo Cortes Ripalda was a rising star in the world of international finance. Charismatic, well-connected and trusted by friends, family and clients, Cortes, along with his business partner Ernesto Heraclito Weisson Pazmino founded a real estate development firm called South Bay. The idea was to transform struggling properties into high-end […]
How a small Scottish telecom firm ended up in a major bribery scandal
What every SME can learn about bribery risk The recent sentencing of two company directors and two NHS employees in Scotland serves as a powerful reminder: Bribery and corruption are not confined to multinational corporations or overseas dealings. They can, and do, occur in small, seemingly innocuous firms operating in local markets. The […]
