TD Bank overhauls AML leadership amid record penalty
Following mounting scrutiny in recent years over several AML-related issues and regulatory investigations, TD Bank is in the spotlight once again — but this time, for trying to turn the page. As the bank works to restore trust and regulatory confidence, its new global anti money laundering chief Jacqueline Sanjuas announced the sweeping leadership overhaul […]
New Higher Education (Freedom of Speech) Act could reshape university policies
The introduction of the Higher Education (Freedom of Speech) Act 2023 marks an important moment for universities and colleges in England. The Act introduces significant changes aimed at strengthening protections for free speech and academic freedom in higher education. Alongside the recent Supreme Court judgment on free speech and updated guidance from the Equality and […]
Hong Kong identified by the FBI as a top destination for fraudulent wire transfers
The FBI identified Hong Kong as the top destination for fraudulent wire transfers in its recently released Internet Crime Report 2024. Other top international destinations for fraudulent wire transactions in 2024 included Vietnam, Philippines, India and China. The report highlighted $16.6 billion in losses reported to the Internet Crime Complaint Center (IC3) in 2024, a […]
Yorkshire law firm fined £36K for anti-money laundering failures
Huddersfield-based Holden Smith Law has been fined over £36,000 by the Solicitors Regulation Authority (SRA) for failing to meet anti-money laundering (AML) obligations. The penalty came following a thorough investigation that uncovered serious compliance failures over a five year period. What happened? The Solicitors Regulation Authority (SRA) investigated the firm’s AML practices and uncovered a […]
New proposals for ethnicity and disability pay gap reporting could reshape pay transparency: is your business ready?
In a significant move towards greater workplace equality, the UK Government has launched a public consultation on introducing mandatory ethnicity and disability pay gap reporting for certain employers. If implemented, these new measures would build upon the current gender pay gap reporting framework while also introducing some distinct requirements tailored to ethnicity and disability data. […]
Legislative changes to IR35 thresholds are here. What are the implications for employers?
With upcoming legislative updates coming into effect, businesses must prepare to ensure compliance with the revised IR35 thresholds. These changes, announced earlier this year by HMRC, will impact how company size is determined for the off-payroll working rules, commonly known as IR35. Employers and engagers of off-payroll workers, often called ‘end users’, need to understand […]
University of Sussex slapped with large fine for breaches relating to free expression and academic freedom
The Office for Students (OfS) slapped University of Sussex with a £585,000 fine for breaching conditions E1 and E2 of its regulatory framework. These conditions pertain to public interest governance and management and governance, respectively. The ruling highlights significant concerns about how universities balance free speech, academic freedom, and institutional policy-making. What were the violations? […]
New UK inquiry into forced labour in supply chains: What do businesses need to know?
The UK House of Commons’ Joint Committee on Human Rights has launched a new inquiry into the nation’s framework for addressing forced labour in international supply chains. The inquiry aims to assess whether current laws effectively mitigate the risk of exposure to forced labour and whether they align with evolving international standards. The deadline for […]
As the focus on forced labour grows, is your supply chain at risk?
Forced labour remains a persistent and widespread issue, affecting businesses, individuals, and supply chains across industries. While it often occurs in the private economy, the global nature of supply chains means no sector is immune. G20 countries import over $468 billion worth of products at risk of being produced with forced labour. Forced labour generates […]
Mastercard and Visa accused of scamming UK customers via use on illegal gambling sites
An investigation has revealed that Mastercard and Visa have been failing to stop their networks being used to make transactions on illegal gambling websites that have been accused of scamming UK consumers out of thousands of pounds. Despite previous commitments to block such transactions, Mastercard was found to be available alongside cryptocurrency as a payment […]
