How one weak password took down a 158 year old company
A recent BBC report highlights a stark cautionary tale: a single weak password helped a ransomware gang take down KNP, a 158‑year‑old UK transport and logistics firm. The breach crippled operations, forced the company into administration, and ultimately left around 700 employees jobless. KNP’s collapse is not an isolated incident: it’s part of a wider […]
Are the proposed SMCR reforms a step towards efficiency or a step back in accountability?
The UK may be about to gut one of its most significant post-crisis financial reforms. In a joint move that could reshape how accountability is handled in financial services, HM Treasury (HMT) and the Financial Conduct Authority (FCA) have launched consultations that propose scrapping core elements of SM&CR—including the entire Certification Regime. What’s being […]
Slick app, sloppy controls: The £21M AML fine that caught up with Monzo
In May 2024, the FCA handed neobank Monzo a £21.1 million fine for systemic AML failings. The penalty followed a six-year investigation and exposed how Monzo’s rapid growth far outpaced its ability to manage financial crime risks. Customers were able to open accounts using obviously false or suspicious information, including addresses listed as 10 Downing […]
Two recent EAT cases show the Equality Act still has teeth
Two recent judgments from the Employment Appeal Tribunal (EAT) provide timely reminders that the Equality Act 2010 remains a robust framework for protecting disabled employees, despite growing scrutiny of diversity, equity and inclusion (DEI) programmes in both the UK and US. While American institutions are actively dismantling DEI initiatives and UK regulators have scaled back […]
The silent risk in your supply chain: Why prosecutors are looking closer
In March 2025, a sitting UN judge, Lydia Mugambe, was convicted at Oxford Crown Court of modern slavery offences, including forced or compulsory labour under the Modern Slavery Act 2015. She had trafficked a domestic worker from Uganda, confiscated her passport, and prevented her from leaving. The offences were sustained over several years. Even after […]
PEP talk: What the FCA’s new guidance means for AML teams
On 8 July 2025, the FCA finally released its long-awaited final guidance on how firms should handle Politically Exposed Persons (PEPs), their family members, and close associates under the UK’s anti-money laundering (AML) regime. Long in the making, the guidance clarifies several grey areas, reflects recent changes to the Money Laundering Regulations, and signals a […]
The UK’s overseas territories are failing on dirty money: What now?
As the UK aims to position itself as a leader in global anti-corruption efforts, cracks are emerging in its own extended backyard. British overseas territories (BOTs), long under pressure to increase transparency, have now missed their final deadline to implement public registers of company ownership, a move critical to combatting tax evasion, money laundering, and […]
FinCEN blacklists three Mexican banks for laundering Fentanyl profits, exposes crypto pipeline
On 25 June 2025, the US Treasury’s Financial Crimes Enforcement Network (FinCEN) took unprecedented action under Section 9714 of the FEND Off Fentanyl Act, which builds on the earlier Fentanyl Sanctions Act, designating three Mexico-based financial institutions: CIBanco, Intercam Banco, and Vector Casa de Bolsa, as “primary money laundering concerns.” This marks the first-ever […]
Bumble’s AI icebreakers land in hot water over GDPR violations
In an age where AI is being woven into the fabric of everyday digital experiences, even dating apps aren’t exempt. But Bumble’s recent experiment with AI-generated conversation starters may have swiped left on EU data protection rules. The AI feature that didn’t ask first In December 2023, Bumble rolled out “AI Icebreakers” for […]
Shell on trial: Why legacy pollution could haunt your supply chain
In a landmark judgment on 20 June 2025, the High Court in London ruled that Shell plc and its former Nigerian subsidiary can be held legally responsible for historic oil pollution in Nigeria. The ruling concerns the Bille and Ogale communities of the Niger Delta — around 50,000 people who have lived for decades with […]
