Last year saw the UK tighten its AML grip with a raft of new regulations. What will happen to AML in 2024?
The UK’s AML system is undergoing a significant overhaul aimed at tackling money laundering and terrorist financing. A series of new regulations are designed to close loopholes and enhance due diligence measures across various sectors. Cryptoasset businesses under the microscope One of the most significant changes is the introduction of the “Travel Rule” for cryptoasset […]
Failure to prevent fraud: When is the law coming into force?
In a major move to combat corporate fraud and protect victims, the UK government is creating a new “failure to prevent fraud” offence, marking a significant shift in how businesses will be held accountable. The legislation targets large organisations and could see them hit with hefty fines if employees commit fraud for their benefit, even […]
On-demand webinar: AI and compliance in the workplace
Artificial intelligence (AI) is rapidly changing the workplace. Generative AI tools like ChatGPT and Dall-E now allow people worldwide to accomplish more than humans ever dreamed possible. This creates many challenges for compliance departments, which have to deal with various regulatory issues related to the use of AI, from GDPR to discrimination. In this webinar, […]
AI regulation in China
In January 2022, China promulgated two laws specific to AI applications. While the provisions regarding the management of algorithmic recommendations for internet information services (Algorithm Provisions) have been in effect since March 2023, the provisions for managing deep synthesis of internet information services (Draft Deep Synthesis Provisions) are still in the drafting stage.
CSRD strategy in 2024: How to get started
2024 is the year of CSRD. The EU’s Corporate Sustainability Reporting Directive (CSRD) is an ESG (environmental, social and governance) is coming into the forefront this year. It is designed to make corporate sustainability reporting more common, consistent and standardised like financial accounting and reporting. The new directive’s impact is far-ranging and essentially modernises and […]
Fire safety at work: Free guide download
Nearly six years after Grenfell, the Building Safety Act is set to bring a significant shake-up to health and safety in facilities. Despite the delay in implementing the second staircase rule for buildings above 18 metres, various parts of the Act have already come into force. The Building Safety Regulator (BSR) has become the authority […]
Japan imposes new sanctions on Hamas members, US sanctions Houthis, and 7 tips for sanctions compliance in 2024
In a significant move, the Japanese government has announced fresh sanctions targeting three senior members of Hamas. Chief Cabinet Secretary Yoshimasa Hayashi revealed on Tuesday that the sanctions would include the freezing of assets and restrictions on payments and capital transactions involving the specified individuals. The decision comes in response to their alleged involvement in […]
Chinese modern slavery risks affect thousands of UK businesses
Modern slavery in supply chains is an ongoing concern for many businesses, but key industries and jurisdictions present a much higher risk of modern slavery than others. A recent UK government review of modern slavery and human trafficking in the supply chain for the NHS has revealed that 21% of NHS suppliers are at high […]
Chinese investors allegedly behind Texas-based crypto mining site
Thanks to Binance, Chinese nationals are able to move money into the US undetected Jerry Yu is a 23-year-old NYU student and a Chinese national. He is also the majority owner of a Texas-based crypto mining facility called BitRush. But it appears that there is more to the company, which was acquired last year. It […]
On-demand webinar: Understanding failure to prevent fraud – the new UK compliance requirement
Under UK law, a corporation can face criminal prosecution if it fails to prevent certain actions from being undertaken by its employees, associates or even contractors. Failure to prevent encompasses a wide array of compliance failures, from not having the right policies to a lack of procedures to even ineffective training courses that don’t deliver […]
