by AdrianaAMLP | Nov 28, 2023
The new fact sheets cover Proceeds of crime and Serious crime.
by AdrianaAMLP | Dec 14, 2022
The Proceeds of Crime Order increased the threshold amount from £250 to £1,000 as specified in section 339A of the Proceeds of Crime Act 2002 (c. 29) (“POCA”). The threshold amount is the value of criminal property below which a bank or similar firm…
by AdrianaAMLP | Aug 3, 2022
UK ML/TF (Amendment) (No. 2) Regulations 2022 come into force on 1 Sept 22 extending the scope of BO reporting discrepancies among others. Reg 13 makes it clear that supervisory authorities can directly require members to show them SARs “to help them in...
by AdrianaAMLP | Jun 10, 2022
Civil monetary penalties can be applied to persons for breaches of financial sanctions with no requirement for the Treasury to prove that the person had knowledge or reasonable cause to suspect their activity breached sanctions…
by AdrianaAMLP | Mar 28, 2022
On the new list, Zimbabwe is no longer classed as a high-risk third country for the purposes of enhanced customer due diligence requirements in regulation 33(3). United Arab Emirates is now classed as a high-risk third country…
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