UK MDR unlikely before the end of the year
VinciWorks understands that the UK is unlikely to introduce its own version of the Mandatory Disclosure Rules (UK MDR) before 2023. As the government has changed and the Treasury has fully changed its Ministers, including the Financial Secretary to the Treasury who is responsible for tax policies, the official position is that the government is […]
A guide to money laundering compliance in Antigua and Barbuda
The key challenges of AML compliance in Latin America and the Caribbean Whether conducting risk assessments or reviewing client due diligence, it is vital to understand the risks and responsibilities of money laundering challenges for different jurisdictions. In this article, VinciWorks considers the key AML challenges and laws in Antigua and Barbuda, and what organisations […]
AML legal sector survey – Download results
This week we surveyed a wide range of UK law firms on their approach to AML. The survey explored firms’ biggest AML challenges, different approaches to risk assessments, ongoing monitoring, AML audits and more. Key findings: The biggest AML challenge is identifying the source of funds/wealth Matter risk assessments are a struggle for 50% of […]
What happens to law firms that breach money laundering regulations?
A leading law firm was fined £232,500 by the SRA, and ordered to pay the SRA’s investigation costs of £50,000 for breaching the Money Laundering Regulations 2017. What does this mean for AML compliance, and what lessons can be learned for compliance?
CSR vs. ESG: What is the difference?
Now more than ever, companies are expected to have a positive impact on society and the planet. Customers are increasingly considering sustainability in their purchases, with upwards of 75% of millennials reporting they do so. Investors also expect companies to understand these issues, with the value of sustainable fund assets doubling over the last two […]
Omnitrack version 2.70.0
Features End users who open a submission that has been deleted by admin will now see an error message instead of a blank page. The error message reduces confusion by telling the end user why they can’t access the submission. Bug fixes Fixed an issue where end users could not export a copy of their […]
What is the Economic Crime (Transparency and Enforcement) Act?
The Economic Crime (Transparency and Enforcement) Act came into force on 15 March 2022. This act was passed in the wake of the Russian invasion of Ukraine. This law represents a significant shift in disclosure requirements for foreign companies who hold property interests in the UK, along with significant changes to sanctions law, including ‘strict […]
On-demand webinar: ESG – Your questions answered
ESG – Environmental, Social and Governance – helps businesses measure their impact on the world. It goes broader than profit and loss and is more detailed than corporate social responsibility. Over the past year, we have fielded hundreds of questions during our ESG webinars. From how to get started to understanding how to choose the […]
New Guide: Money laundering in the UK in 2022–What’s the latest in AML compliance and what’s changing?
The Russian invasion of Ukraine, which began in February 2022, crystalised the role of anti-money laundering in the fight against Russian aggression. Sanctions compliance may have been at the forefront of international efforts to constrain the Russian economy, but money laundering is the vital, long-term compliance programme to ensure those sanctions stick. Efforts by sanctioned […]