09 Aug 2022
Background On 24 June 2022, HM Treasury published its “Review of the UK’s AML/CFT regulatory and supervisory regime” (the “Review”). This article will provide some initial observations from the Review, before delving into the some of the detail and extracting some points of interest and key learning points, with a particular focus on new technolog...
06 Jul 2022
This article follows a 7 April 2021 article titled: Tech and Crime Series: Cryptoassets and financial crime Part I. On 1 June 2022, the US Department of Justice (DoJ) announced that a former employee of a non-fungible token (NFT) marketplace, OpenSea, had been charged in the first ever digital asset insider trading scheme. As the associated press ...
15 Jul 2021
In the UK, cryptoasset related activities are rightly being increasingly regulated for anti-money laundering (“AML”) and financial crime reporting purposes. However, except where cryptoassets crossover into certain other regulated areas, there is currently no specific wider regulatory framework. As such it has been recognised that they may not be ...
13 Apr 2021
News broke on Tuesday 16 March 2021 that the Financial Conduct Authority (the “FCA”) has started criminal proceedings against NatWest Bank (“NatWest”) for alleged offences relating to the adequacy of procedures in place to prevent money laundering. These proceedings are in respect of offences under the Money Laundering Regulations 2007 (the “200...