2022 was, by no means, a quiet year for financial crime. From devastating cases of fraud, to some hefty fines for AML failings; 2022 saw some of the most shocking reports of financial crime and money laundering. In October 2022, … Read More
Money laundering
What Can We Learn about Money Laundering from Ozark?
Popular fictional Netflix drama, Ozark depicts the dramatic shift in the career of Marty Byrde. From family friendly, but disengaged Financial Advisor to, at one point, being the Acting Head of the second largest drug cartel in Mexico. Marty and … Read More
What is Money Laundering?
Money laundering is the illegal process of making large amounts of money generated by criminal activity, such as terrorist funding or drug trafficking, appear to have come from a legitimate source. This ill-gotten money is considered ‘dirty’ and the process … Read More
Upcoming Amendments to the Money Laundering Regulations
The government has commenced the consultation process for further amendments to the Money Laundering Regulations 2017 (MLR 2017). Compliance professionals and regulated firms need to make notes and prepare for such upcoming changes, … Read More
Nearly 400,000 British Companies Evade Anti-Money Laundering Compliance
Almost 10 per cent of UK firms still do not declare who their beneficiaries are. In 2016, the UK’s more than four million firms were ordered to identify who controls them, in an attempted crackdown on anonymously owned shell structures … Read More
Money Laundering and Compliance in the WealthTech Industry
Wealth Technology or WealthTech is a subset of FinTech that focuses primarily on wealth management. We review the Money Laundering and Compliance in the WealthTech industry and how NorthRow can help. … Read More
How will the 5th Money Laundering Directive Affect Beneficial Owner Monitoring?
Under the 5th Money Laundering Directive (5MLD), EU member states will be required to identify beneficial owners and to maintain public registers of these. The result of such public registers is an increase in transparency, making it more challenging to disguise illicit transactions including terrorism and money laundering. … Read More
Money Laundering and Compliance in the Peer-2-Peer Industry
With the new regulation coming from the Financial Conduct Authority aimed at the Peer-2-Peer industry, we at NorthRow provide insight into the best Money Laundering and Compliance Solution for the P2P. … Read More
How will the 5th Money Laundering Affect PEPs Checks?
There are several updates that differentiate 5th Money Laundering Directive (5MLD) from the 4MLD, one such difference is the definition of what actually constitutes as a Politically Exposed Person (PEP). … Read More
The Art of Money Laundering
The loosely regulated art market is rife with opportunities for washing illicit cash. … Read More