Here are the top Anti-Financial Crime and AML stories so far this week:
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ILZE OPINION:?Attempts to confiscate frozen assets are set to reveal some very uncomfortable truths about the absence of harmonised laws across the west, our expert columnist Ilze Znotina writes.
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One thing that is now quite apparent is the sheer amount of Russian money of dubious origin which is swirling around the globe, she says. But what to do about it?
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Ilze reveals the strategy around how the west must deal with the “dirty money” which has flooded the western world - and was conveniently integrated in exclusive goods and real estate.?
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NOT GUILTY:?A Swedish court on Wednesday?acquitted?former #Swedbank Chief Executive Birgitte Bonnesen of charges of gross fraud and market manipulation over her handling of the bank's anti-money laundering protocols in Estonia.
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Bonnesen, who was CEO in 2019 when a money-laundering scandal involving Swedbank's Baltic business erupted, had denied the charges.
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Prosecutors had accused Bonnesen of giving misleading information to shareholders and the public, intentionally or through negligence, on the bank's measures to prevent, uncover and report suspicions of money laundering in Estonia
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Find the story here:?Swedish court finds former Swedbank CEO Bonnesen not guilty of fraud
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COINBASE IN HOT WATER:?The Dutch central bank (DNB) has?fined?US cryptocurrency exchange Coinbase €3.3M ($3.6 million) for failing to obtain the correct registration in the Netherlands before offering services.
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The fine mirrors one handed to Coinbase rival Binance in July.
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Coinbase said it disagreed with the DNB's decision, which it said "includes no criticism of our actual services" and was considering an appeal.
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Read the story here:?Dutch central bank fines cryptocurrency exchange Coinbase €3.3M
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BRITAIN APPROACHES 1M ANNUAL SARS:?BRITAIN is closing in on an?annual?1M SARs - with a 21pc increase on suspicious activity reports last year.
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The annual report from the National Crime Agency - home to the UK's FIU - said another record was set in the last financial year with 901,255 SARs.
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The NCA said it denied ￡305.7M to suspected criminals as a result of Defence Against Money Laundering (DAML) requests – a 120.6pc increase on the ￡138.6M denied in 2020-21.
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Read the story here:?Britain approaches 1M annual SARs; FIU says it denied ￡305M to money launderers
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INVITATION:?The next?next meeting of the FinCrime Intelligence Network (FCIN) will take place on February 22nd 2023,?at the Armourers’ Hall?in the City of London.?
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The theme of the February 22 meeting is?‘Unblocking the Barriers to Data Sharing in Anti-Financial Crime.’
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We are delighted to announce our guest speaker will be?Assistant Commissioner John O'Driscoll?(Rtd), who led the?police?operation to have the?Kinahan?Organised Crime Group sanctioned.
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The invitational evening will be moderated by?AML Intelligence?publisher Stephen Rae and hosted in association with SymphonyAI, NetReveal.?
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If you are a senior banking or AFC leader in the UK and would like to attend, please register your interest by emailing Alisha Houlihan at?[email protected]
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SLAPPED FINE:?The UK’s Gambling Commission has?announced?it would fine online operator, In Touch Games ￡6.1M (€6.9M) for a series of social responsibility and money laundering failings.
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A March compliance assessment found that In Touch Games (ITG), which operates 11 websites, such as bonusboss.co.uk, cashmo.co.uk, drslot.co.uk, jammymonkey.com and slotfactory.com, did not meet the industry's standards.
领英推荐
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READ the story here:?UK’s Gambling Commission hits online operator with ￡6.1M (€6.9M) fine
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VAT FRAUD SCHEME:?The European Prosecutor’s Office (EPPO) in Venice today announced it has?detained?18 suspects believed to be involved in a criminal organisation.?
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In a statement, the EPPO revealed the operation named ‘Cheap Ink’, involved the suspects selling office supplies at cheap prices by “fraudulently avoiding VAT payment, with profits estimated at €58M.”?
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Find the story here:?EPPO detains 18 suspects and seizes €58M in VAT fraud scheme
WOMEN IN FINCRIME:?The award-winning?Women In FinCrime?Summit takes?place on February 22nd (2pm-5pm GMT).?
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Have you registered your place for the stand-out Anti-Financial Crime?(AFC)?summit of the year.?We will be joined by:??
-? El?bieta Franków-Ja?kiewicz , Chair of #MONEYVAL?& Vice Chair,?#Egmont Group of Financial?Intelligence Units?
- Alexandra Jour-Schroeder, Deputy Director General,?DG FISMA,?European Commission??
- Brenda Lucki, Commissioner,?Royal Canadian Mounted Police | Gendarmerie royale du Canada?Police?(RCMP)?
- Dr. Shlomit Wagman , former DG Israel Money Laundering & Terrorism Prohibition Authority (IMPA)?
-? Ilze Znotina ,?former Director,?Financial?Intelligence Unit (FIU) Latvia?
-? Toni Gillich , Assistant Director, Forensic Audit and?Investigative Service, GAO?
-?@Nana Lisa Heider, Head, Financial Crime?Intelligence Unit,?Deutsche Bank
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The summit will be chaired by Managing Director of Interpath ’s Advisory, Federica Taccogna and moderated by Jackie King GCB.D ??Executive Director at Ibec Global
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The theme of the February?22?Summit is ‘Emerging Technology?in?the Fight Against Financial Crime.’?
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Book your place now?HERE !
CORPORATE GIFT:?Give the Christmas gift that will please every Anti-Financial Crime professional this year - an 'AML Intelligence' Membership.
Department leaders can purchase a corporate 'AML Intelligence' Membership for your team.
Alternatively, you can buy individual Memberships. Our members get access to our premium content, complimentary access to our award-winning conferences and access to 'Regulatory Watch.'
Find out more here now: Go to?https://lnkd.in/eMbkm6p
MOVERS & SHAKERS:?Check out our?jobs portal?for the latest roles in Compliance, FinCrime and AML.?
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Join the world’s fastest-growing FinCrime community and?become an?AML Intelligence?member.
Have a great Wednesday??
Alisha and the team at AMlintelligence.