Compliance Monitor
Who guards the guards?
By Timon Molloy,managing editor
There’s a saying that a child lives up to ordown to its parents’ expectations. A core problem of UK AML regulation is thebar
– it’s set so very low; the tolerance of failure is so, so high. The thirdreport [1] from OPBAS (Office of Professional Bodies
[PB] Anti-Money LaunderingSupervision) is the latest illustration of this pusillanimous approach:politically incorrect as
a metaphor it may be, but sparing the rod is arguablywell and truly spoiling the child.