MONEY LAUNDERING IN CAPITAL MARKETS

On 4 March, RUSI published a Commentary saying that the UK’s FCA has promised action to address the UK capital markets’ vulnerability to high-end money laundering – and saying that it faces a difficult task.  One problem highlighted in the UK National Risk Assessment was that capital markets have relatively weak compliance controls and low levels of suspicious transactions reporting; and the ‘intelligence gap’ around the scale and nature of money laundering in capital markets does not help matters.  The article mentions other, technical difficulties and says that whilst the FCA expects to publish the outcome of its diagnostic investigations into money laundering in capital markets in June 2019, in the meantime it is treading softly.

https://rusi.org/commentary/securing-securities-money-laundering-capital-markets

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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