Latest LSAG updates incorporate proliferation financing assessments
The Legal Sector Affinity Group (LSAG) has updated its guidance on the anti-money laundering (AML) regulations. As of 28 March, Guidance on the new requirement to carry out proliferation financing risk assessments, either as part of the firm’s existing practice-wide risk assessment or as a standalone document. What is proliferation financing? Proliferation financing is defined by […]
Inclusion essentials
This course explores inclusivity from a variety of perspectives and characteristics.
William Hill fined nearly £20m for money laundering failings
The Gambling Commission announced the largest penalty ever issued by the regulator. William Hill, the betting giant, was slapped with a fine of £19.2M, for failing to protect consumers and stop money laundering. The Commission’s Chief Executive, Andrew Rhodes, revealed that the problems at the three companies owned by William Hill were “widespread and alarming,” […]
Omnitrack version 2.81.0
New reports features! Access settings With this new feature, admins will be able to choose between two access settings when creating a report: admin-only or allowing any logged-in user to view the report. Under the admin-only setting, only admins will have access to view or edit the report. This is ideal for reports that contain […]
Ramadan
Ramadan is the ninth month of the Islamic calendar and is considered one of the most sacred months in Islam.
On-demand webinar: AML compliance – Are paper-based ID checks dead?
Many firms are still carrying out paper-based identification and verification of clients during the onboarding process. But is this the most efficient method? In this webinar, we were joined by Thirdfort’s AML Services Manager Harriet Holmes, Compliance Office’s Managing Director Andy Donovan and VinciWorks’ Director of Product (Omnitrack) Ruth Mittelmann Cohen to explore the extent […]
Gulnara Karimova: Uzbek president’s daughter, pop star, diplomat… and money launderer?
A report says she is. And that London and Virgin Islands firms didn’t do enough to stop her Gulnara Karimova has already achieved a measure of fame – or notoriety. She is the daughter of Islam Karimov, who was president of Uzbekistan from 1989 until 2016, when he died. There was a period when it […]
AML ongoing monitoring: Download our guide
Ongoing monitoring is an essential part of an effective anti-money laundering programme. Regulations are constantly changing, clients’ circumstances are evolving and the ramifications of making a mistake are getting increasingly high. Ongoing monitoring is required to determine whether a customer continues to match the risk profile assigned to them at onboarding. It’s essential to stay […]
New guidance from LSAG: Chinese underground banks and funds from China
What your firm needs to know about transactions from China The Legal Sector Affinity Group (LSAG) recently published an advisory notice on the risks involved in Chinese transactions that do not use the normal banking system or have not complied with Chinese currency controls. Bottom line: A customer misleading the Chinese authorities about the reasons […]
International Women’s Day: Why your business should be menopause friendly
Offering menopause leave supports an intersectional approach to diversity and inclusion Menopause leave matters. In the UK alone, 60% of women have taken time off work due to menopause symptoms, 900,000 women have left their jobs due to menopause, and 99% of women said menopause symptoms had impacted their careers according to data from CIPD. […]
