As the year draws to a close, it’s always a good opportunity to reflect on the past 12 months. With this in mind, I took a look back at the blogs International Compliance Training has published on anti money laundering in 2017 and chose my five favourites.
1. Paradise lost – new data leak and familiar concerns
The Panama Papers may have attracted the most headlines back in 2016, but 2017 was not without its data leaks and fresh concerns over the use of offshore trusts and companies to obscure beneficial ownership. In this piece Jake Plenderleith takes a closer look at the latest data leak.
2. Is your client a money launderer?
‘Help! I think my client is a money launderer’. Not a statement any AML professional wants to say out loud, but here I consider what happens if you get a name match against negative news.
3. Understanding complex company structures – understanding the puzzle
Verifying the identity of a customer can be as gloriously simple as meeting a customer face-to-face and taking a copy of their original passport and a utility bill. On the other side of the client due diligence (CDD) spectrum is trying to unravel a complex corporate structure and understanding the identity of the ultimate beneficial owner.
In this blog, we explore some of the challenges that AML professionals in financial institutions face.
4. Five key points of the upcoming fifth anti money laundering directive
In what feels at times like the ever changing world of AML legislation, Holly Whitehead analyses five key points of the fifth AML directive.
5. Money Laundering Regulations 2017
Continuing with our closer look at AML regulations, Course Director Dawn Fisher examines one of 2017’s main headlines: the UK’s new money laundering regulations.
And as a bonus, International Compliance Association published fascinating insights into bitcoin: are bitcoin addresses shell companies in disguise?
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