FCA INVESTIGATES 75 FIRMS, INDIVIDUALS OVER MONEY LAUNDERING ISSUES – ANNUAL AML REPORT 2017/18

KYC 360 reported on 20th July that the FCA indicated its Anti-Money Laundering Report 2017/18 (published alongside its Annual Report and Accounts 2017/18) that its ‘increase in the number of investigations’ was linked to its new approach of opening investigations earlier and more quickly in cases where it suspects serious misconduct.  The article says that the FCA has previously been accused of not doing enough to tackle London’s money laundering crisis, which has seen it branded as the world’s money laundering capital.

The report is available at –

https://www.fca.org.uk/publication/corporate/annual-report-2017-18-anti-money-laundering.pdf

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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