Regulating the UK as a global financial centre
We are fully committed to maintaining open and fair UK markets – and we will continue to regulate in the interests of consumers, competition and market integrity.Whilst our markets are open, firms serving UK customers and businesses will need to meet consistently high standards, and there will need to be strong supervisory co-operation between our […]
The importance of purposeful anti-money laundering controls
Two of our biggest sanctions in the last 12 months related to failures to address financial crime and anti-money laundering (AML) risks.We currently have 42 investigations ongoing into firms and individuals involving, for example, systems and controls over politically exposed persons, customers with significant cash intensive operations, correspondent banking and trade finance, and transaction monitoring.AML […]
UAE Takes a Stand Against Illicit Finance
The UAE Higher Committee Overseeing the National Strategy on Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) has launched two programmes to train and certify professionals on global compliance standards and procedures to fight illicit finance.Under the programme, more than 140 professionals working alongside 36 federal and local competent authorities in the UAE […]