30 January 2023
Major rise in SARs volume and suspect funds locked – UK FIU report
The latest Annual Report of the NCA’s UK Financial Intelligence Unit (UKFIU), published this week, makes interesting reading. The UKFIU is responsible for receiving, analysing and disseminating intelligence submitted through the Suspicious Activity Reports (SARs) regime and its role is to alert law enforcement agencies, both at home and abroad, to potential instances of money laundering and terrorist financing.
20 January 2023
The Gambling Commission’s focus on AML failings shows no signs of abating with the publication of new regulatory actions
With the back-to-back release of public statements, regulatory actions by the Gambling Commission are coming thick and fast. On 17 January the Commission announced it had agreed a regulatory settlement with the online gaming company, Vivaro Limited trading as Vbet, in respect of its AML and responsible gambling failings. Following swiftly on its heels was the statement of action taken against another online gaming company, TonyBet, for imposing unfair terms and for its AML and responsible gambling failings.
13 January 2023
FCA anti-money laundering fines continue to mount up
Over the past few months, the FCA has handed out a string of significant financial penalties relating to anti-money laundering (AML) systems and controls failures at financial institutions in the UK.
10 November 2022
Law Commission recommendations for confiscation reform: Is there the will to find a way?
Following a lengthy period of research and consultation, the Law Commission (‘the Commission’) has published its final report and recommendations for the reform of Part 2 of the Proceeds of Crime Act 2002: the post-conviction confiscation regime (‘the report).
10 November 2022
Kingsley Napley contributes to significant Law Commission criminal justice reform project
Kingsley Napley contributes to significant Law Commission criminal justice reform project. The Law Commission has today published its long-awaited recommendations for reform of the UK’s post-conviction confiscation regime. Work on the project began in November 2018, after the Home Office asked the Law Commission to review the regime found in Part 2 of the Proceeds of Crime Act 2002.