JPMorgan Chase reaches $290m settlement with Jeffrey Epstein’s victims
The proposed deal settles a suit brought by Epstein’s victims who were sexually abused by him over claims the bank ignored warnings about him JPMorgan Chase has agreed to settle a lawsuit which accused the Wall Street giant of having facilitated financier Jeffrey Epstein’s sex trafficking enterprise. It’s a deal that demonstrates the significance of […]
How money launderers targeted football clubs
In a recent criminal case that has come to light, a football club was revealed to have been the target for a sophisticated money laundering operation. A criminal cabal involving three solicitors exploited vulnerabilities within the clubs, taking advantage of lax due diligence procedures and establishing a troubling nexus between criminals, football, and money laundering.
Can AI replace your training provider?
Will tools like ChatGPT be able to provide compliance training? One of the changes that the rise of AI generative text tools like ChatGPT brought about was the ability of anyone to write a great deal of text very quickly. Or, if not write the text, at least inspire the AI through a creative use […]
Shocking figures show 135 people were killed at work – but the HSE isn’t investigating
Deaths have increased since the pandemic but half of ‘mandatory investigations’ don’t happen, leaving employers and families in the dark New data published by the Health and Safety Executive (HSE – 6 July) has revealed 135 people died in 2022/23 due to work-related fatalities. There was a distinct drop in deaths at work during the […]
Treasury unveils reforms to anti-money laundering regulation
The UK government has announced a series of reforms to its anti-money laundering (AML) and counter-terrorism financing (CTF) regulatory and supervisory regime Following a review of the state of AML law in 2022, the Treasury has launched a consultation on reform of the anti-money laundering and counter-terrorism financing (AML/CTF) supervisory system. The review concluded that, […]
AML case study: How a Beijing university student in Scotland was caught money laundering
Xiaotong Huang, a university student from Beijing, was charged with laundering nearly £85,000 for a Glasgow-based Chinese crime lord and was sentenced to jail for 18 months. What happened? What were the red flags? And what can we learn from this case?
What’s in the EU’s new AI Act?
Concerns about AI and its potential dangers have been raised by industry professionals, prompting calls for action. Over 50,000 signatories signed a letter in March urging an immediate halt in the development of “giant” AIs and the establishment of robust AI governance systems.
Omnitrack version 2.88.0
Automatic Currency Conversion Now, you can effortlessly manage forms and workflows with users around the world, regardless of their preferred local currency. With this enhancement, you have the power to set up rules, logic, and automations based on your chosen currency, making your tasks more seamless and efficient. Here’s how it works: as an admin, […]
MDR: Canada updates its mandatory disclosure rules
Canada’s updated mandatory disclosure legislation under Bill C-47 has just received Royal Assent and therefore has now become law. One of the key areas addressed by Bill C-47 revolves around the extensive revisions made to the Canadian mandatory disclosure rules. What is the background? In the 2021 Canadian Budget, it was announced that Canada would […]