Compliance Monitor
The criminal future of AML enforcement
With the Financial Conduct Authority avowing stronger intentions to use its criminal powers when enforcing cases of egregiously poor anti-money laundering performance, it is only a matter of time before they ‘cross the Rubicon’, write Claire Cross and Nick Barnard.
Claire Cross is a partner and Nick Barnard an associate with criminal, fraud and regulatory lawyers Corker Binning. Contact them on cc@corkerbinning.com and nb@corkerbinning.com.
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“We have also commenced a small number of investigations into firms’ systems and controls where, for the first time, we have
indicated to those firms that we are looking at whether there has been any misconduct that might justify a criminal prosecution
under the Money Laundering Regulations.
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