Inadequate supply chain due diligence can breach sanctions and fuel proliferation financing
A questionable source of origin in the global grain trade has shed new light on the critical risks of robust supply chain due diligence. A high-profile case involving an Egyptian military agency’s import of over 20,000 tons of wheat from occupied Ukraine, carried by a Russian vessel with a murky trading history, should serve as […]
The high cost of AML failures: Lessons from a recent disciplinary case
In a striking case that underscores the serious consequences of failing to meet anti-money laundering (AML) and financial compliance obligations, a London law firm and its compliance officer were fined £25,000 each for multiple regulatory breaches. The Solicitors Disciplinary Tribunal (SDT) found that Law and Lawyers Ltd, an East London firm, and its senior director, […]
Tax evasion risk alert: Scottish Private Purpose Trusts
UPDATE: This original blog was published on 6 February 2025. Four days later on 10 February 2025, the Scottish Government announced that the implementation of Private Purpose Trusts has been paused and will be reviewed due to concerns around how PPTs might be used to facilitate tax evasion and money laundering. The Trusts and […]
Data protection risks in law firms: GDPR and professional misconduct
The European Union’s General Data Protection Regulation (GDPR) has far-reaching implications for organisations across all sectors, and law firms are no exception. While legal professionals are experts in navigating complex legislation, they also face unique challenges when it comes to managing sensitive personal data. From day-to-day client interactions to the reporting of professional misconduct, law […]
What is RIDDOR?
Understanding workplace health and safety regulations is crucial for businesses and employees alike. One such regulation is RIDDOR, a legal requirement in the UK that ensures certain workplace incidents are reported to the relevant authorities. Compliance with RIDDOR is essential for maintaining a safe work environment and preventing future accidents. In this article, we will […]
Why strong anti-fraud systems are essential—even at the CEO level
Bryan Sherbacow, the founder and former CEO of sustainable aviation fuel company Alder Renewables, was sentenced to 36 months in prison for embezzling over $5.9 million from his company and defrauding investors of $16 million. His fraudulent activities funded an extravagant lifestyle, including luxury vehicles, a waterfront condo, and exclusive club memberships. Between January 2021 […]
What is a Care Plan?
A care plan is a comprehensive document that outlines an individual’s assessed health and social care needs, the services to be provided, who will provide them, and when they will be delivered. It serves as a personalised roadmap for delivering consistent and effective care, ensuring that all involved parties understand the individual’s requirements and preferences. […]
The unseen risks of proliferation financing in financial institutions
Proliferation financing is of significant concern to every business in the regulated sector. A series of amendments to the UK Money Laundering Regulations 2017 came into force 1 September 2022. The Money Laundering and Terrorist Financing (Amendment) (No. 2) Regulations 2022 include an obligation for regulated entities to identify, assess and mitigate the risk of […]
Is China’s DeepSeek AI compliant with GDPR?
China dramatically entered the AI arms race with the announcement of a new, supposedly ‘cheaper’ Chinese AI model called DeepSeek R1. The markets and commentators were agog at the model’s ability to do all the many things we know and love about AI these days, but at a fraction of the cost. The company claimed […]
The state of cryptocurrency compliance in 2025: free guide download
The cryptocurrency landscape is evolving at an unprecedented pace, and 2025 is poised to bring significant challenges for businesses dealing with cryptocurrency—the money laundering avenue of choice for criminals, gangsters and terrorists. At the same time, President Trump’s second administration is stuffed full of ‘crypto-bros,’ advocates of decentralised, high risk ‘currencies’ like Bitcoin, and many […]