Is crypto dead?
The criminal trial of Sam Bankman-Fried, founder of failed cryptocurrency FTX, opens and it could determine the fate of crypto In what is likely to become a referendum on the cryptocurrency industry, Sam Bankman-Fried’s criminal trial got underway in federal court in New York City. Bankman-Fried, the founder of FTX, the cryptocurrency that collapsed spectacularly […]
Modern slavery, CSRD and the supply chain
What is modern slavery? Modern slavery is the term used to describe some of the world’s worst forms of exploitation, including human trafficking, domestic servitude, child labour, debt bondage, forced marriage, sexual exploitation and more. It is estimated that as many as 40 million people are now trapped in modern slavery worldwide, more than at […]
The German anti-money laundering revolution
How the establishment of a new AML super agency could change the game for AML compliance Once considered a haven for money launderers, the Federal Republic of Germany has taken some significant steps to potentially revolutionise the fight against money laundering. FATF had previously criticised Germany for the prevalent use of cash payments – anyone […]
Multi-million pound money laundering fine against financial services firm levied by FCA
Lack of risk assessments and outdated policies contributed to failings ADM Investor Services International Limited, a commodities services broker, have been hit with a significant £6.47 million fine by the Financial Conduct Authority (FCA) for inadequate anti-money laundering systems and controls.
Poor policy management leads to multi-million dollar fine for financial service firm
Lack of annual review and regular monitoring for AML system, along with ESG policy inconsistency A Deutsche Bank subsidiary, DWS Investment Management Americas, settled with the SEC to the tune of $25 million for making misleading ESG disclosures and running an ineffective anti-money laundering system. Both failures stem from a lack of systems to review […]
New course release: Market Abuse Regulation
The Market Abuse Regulation (MAR) is aimed at prohibiting insider dealing and unlawful disclosure of inside information, and market manipulation. Train your employees to protect them and your organisation from costly mistakes which could result in fines or even imprisonment. This eLearning course on MAR is set in an immersive format enabling learners to explore […]
New course release: Working effectively with the equality act
Since it came into law in 2010, the Equality Act has provided organisations with a legal framework to operate within. Complying with the Act is essential to ensure that staff do not experience illegal and unethical treatment at work. The Equality Act is a complex piece of legislation that requires careful consideration when embedding its […]
The great regulatory shift. Do we need to prepare for doom?
Presenters at this year’s Law Society conference think law firms need to be ready for increased regulation In a law firm regulatory update at The Law Society’s Anti-Money Laundering and Financial Crime Conference 2023, the presenters pointed out how regulation has increased in the past 15 years. They believe it is a trend that will […]
Understanding gender diversity and non-binary identities
How to explain gender diversity to people who don’t get it Explaining non-binary and gender diversity to people who may be older or unfamiliar with these concepts can require patience, empathy, and clear communication. Here’s a way to explain these concepts in a simple and understanding manner: