HMRC issues £3.2 million in money laundering penalties
Hundreds of businesses across the UK have been fined Between July 1 and December 31, 2022, 240 businesses were fined by HM Revenue and Customs (HMRC) for breaching Money Laundering Regulations (MLR) aimed at preventing criminals from exploiting illicit cash. The move, which was announced in a press release issued by HMRC, demonstrates that the […]
AML case study: Shelf company in Jersey charged with money laundering–then returns $3.7m in confiscated funds to Kenyan citizens
VinciWorks’ most recent money laundering case study tells the story of a Jersey shelf company that was charged with money laundering and ultimately returned $3.7m in confiscated funds to Kenyan citizens, which was then used for much needed medical funds and pandemic relief. There is much to be learned from this recent case study, a […]
LGBTQ+ Pride Month guide
Pride Month serves as a reminder of the ongoing fight for LGBTQ+ equality and acceptance
Omnitrack version 2.86.0
Group Users by Channel for Enhanced Organization With the latest update, you can effortlessly create groups based on the channels through which users were added. For example, you can group all users added via API, simplifying your organization and access control. Display Subfields in Submissions Grid View Subfield data now displays right within the grid, […]
Members’ Update 29th March 2023
New release: Inclusion essentials, Upcoming – Sexual orientation course and webinar.
AML case study: Ex-premier league star Richard Rufus jailed over £15M fraud
Former footballer Richard Rufus involved friends, family, and associates in a pyramid scheme in which a total of £15M was invested with him. Using his status as a former athlete to appear wealthy and successful, he claimed he was a foreign exchange trader and convinced his victims to invest in what he said were low-risk […]
At-a-glance: AML ongoing monitoring-new one page guide
What do I need to check during ongoing monitoring? When do I need to do a CDD review? What do I need to record during ongoing monitoring? Ongoing monitoring is an essential part of an effective anti-money laundering programme and it’s essential to stay on top of compliance requirements to avoid exposure to financial crime […]
The Solicitors Regulation Authority’s sanctions survey is due at the end of May
They want to know how your law firm handles financial sanctions Last month, the Solicitors Regulation Authority (SRA) released a questionnaire compelling law firms to report on their firm’s approach to financial sanctions. The survey is due on May 31. A few of your key questions about this survey are answered here.
VinciWorks’ AML case study: Road haulage operators in £30m money laundering scheme
Six men were recently convicted of taking part in a £30m money laundering scam which involved passing dirty money through a road haulage firm. The leading operator was sentenced to 14 years imprisonment, while another person involved was sentenced to five years, and others to three and a half years and eight years respectively. VinciWorks […]