Money Laundering/AML

New UK legislation allows courts and law enforcement authorities to freeze cryptoassets of alleged criminals before an arrest has been made

The Financial Action Task Force (FATF) has removed the Cayman Islands and Panama from its ‘grey list’

Law firms have been warned that they need to do more to properly assess any money laundering risks posed by clients and the services they are seeking

The EU Council has added Antigua and Barbuda, Belize and Seychelles to its list of non-cooperative tax jurisdictions

Money seized by UK authorities increased by 16 percent last year to a total of £179 million.

A crooked tax agent who stole more than £750,000 in a tax and mortgage fraud has been jailed for 10 years

HMRC has sold a £2.1 million Buckinghamshire mansion owned by a pair of VAT fraudsters after they refused to repay money gained in a £12.6 million VAT fraud

A tax agent who abused his position to steal from a dying man has been jailed for more than three years

The summer of 2023 has brought much media attention to the topic of banking so-called politically exposed persons (PEPs), as well as the introduction of new legislation in the UK to address the problem of PEP bank account closures through tighter regulation, coupled with reviewing financial institutions’ (FI’s) compliance with existing rules. With the end of the year drawing closer, it remains to be seen how much practical change these reforms will bring...

Earlier this summer (7 June 2023) the National Crime Agency (NCA) obtained an Unexplained Wealth Order (UWO) against a Birmingham man, Yaqub Younis and his company, Regal Capital UK Limited