Human trafficking is one of the fastest growing and most widespread criminal activities in the world.....More
'An investment in knowledge pays the best interest' - Benjamin Franklin....More
Compliance culture, especially in financial services, is a really important element that can impact on the wider cultural challenges that a firm could face.
It was announced that Standard Chartered has agreed to pay more than $1 billion to US regulators and the UK’s Financial Conduct Authority (FCA). What lessons can we learn from this?....More
Virtual currencies, cybercrime and Trumponomics, to name just a few, present interesting dilemmas: to what extent should we be conversant in these areas in order to fully understand the financial crime risks associated with them?
Ten years ago, the Middle East was a different place to the one that we see today. You only have to look at a picture of the Dubai skyline in 2008 and compare it to the current one to appreciate the aesthetic changes that have taken place. But it has not only changed aesthetically: the regulatory progress in the region’s financial sector has been equally discernable.....More
When correctly motivated, employees remain honest and become the most effective frontline defence against the fraudster. Employees become motivated when they believe that:
Have you ever wondered which skills and attributes are useful when working in anti money laundering (AML)? If you currently work in AML, have you considered how your own skills measure up? Here’s a quick look at some of the skills and attributes that a compliance professional may need....More
The new Transparency International Corruption Perceptions Index (CPI) has been released and you can see the results here. The Index is used in many financial crime models and is a highly regarded tool for geographic risk insight.
Have you ever wondered which skills and attributes are useful when working in anti money laundering (AML)? If you currently work in AML, have you considered how your own skills measure up? Here’s a quick look at some of the skills and attributes that an AML professional may need....More
Despite significant investment in compliance, we still see incidents where things go wrong. In many cases the root cause is the wrong culture and values. How do you drive the right culture across your organisation? How do you ensure everyone is accountable for compliance matters? Below we provide some tips to help support a successful compliance ‘change programme’.
In August this year, the Financial Action Task Force (FATF) published a new report that aims to raise awareness and provide an updated and more precise understanding of the financial flows related to human trafficking.....More
When asked to consider IWT, many people would think of ivory and tiger skins; but it is so much more than that. IWT can be broadly defined as ‘any action which contravenes current legislation (nationally or internationally) governing the protection of animals and plants’ (NPCC).
David Jackman highlights the challenges associated with efforts to measure whether the SMCR is working
Football itself – and in particular FIFA – has been beset by corruption problems over the last decade. In light of this we thought we would consider each fixture of the tournament through the lens of corruption.
An amendment to the Sanctions and Anti Money Laundering Bill was approved by the British government in May. The headline news from the amendment was that from 2020 British Overseas Territories (BOT) will be obliged to publish the beneficial owner(s) of all registered companies.
RegTech is now one of the most talked about innovations in the financial services sector. The added influx of FinTech that has caused the incumbent population of the financial services industry to sit up and take notice. Disruption is a clear and present threat to this community. The revolution is here.
Bitcoin has taken the world by storm; Simone Jones shares what she has learnt about cryptocurrency over the course of the last year.
In the lead up to the UN’s International Anti-Corruption Day on 09 December, we have collated a collection of articles and blogs, written over the last 12 months, to aid your learning journey on this all-important subject. The information that you take away should help stimulate discussion and support you in making sound decisions in your role.....More
Have you ever wondered which skills and attributes are useful when working in compliance? If you currently work in compliance, have you considered how your own skills measure up?
Have you ever wondered which skills and attributes are useful when working in anti money laundering? If you currently work in AML, have you considered how your own skills measure up?
A round-up of our insight about money laundering, terrorist financing and beneficial ownership in Switzerland.
“Tell me and I forget, teach me and I may remember, involve me and I learn.” ― Benjamin Franklin. At ICT, we are passionate about learning and development and tens of thousands of individuals and firms all over the world have realised their training ambitions through us.....More
After reading the comments on my previous blog on some of the biggest money laundering cases of the last 30 years, I have been inspired to look into one of those cases in more detail. The case involved the Bank of Credit and Commerce International, or BCCI, and it has made for very interesting reading.
Money laundering and, conversely, anti money laundering (AML), continues to be a hot topic, especially within businesses and large corporations, as government agencies – particularly in the US (where an estimated £231 billion is laundered annually) – continue to crack down on money laundering and sanctions violations.....More
I came across an article recently that reported on a money laundering conviction in Thailand in which a Dutchman, Johan van Laarhoven, received a prison sentence of 103 years. Now, on the face of it Van Laarhoven elicits no sympathy from me, if you’re involved in money laundering you deserve to face the consequences, right?
When I go to briefing sessions about ICA qualifications and speak to delegates about their career aspirations , one of the more frequent questions I get asked is “will the qualification get me a job in the area I am interested in?” Indeed in the last two or three years this question has increased significantly in popularity due to the rise in recruitment opportunities in compliance and related roles.....More
If I have completed a previous ICA qualification will I be exempt from any modules on further qualifications?
One question that I have often been asked during my compliance career, and that comes up quite regularly in workshops is “what exactly is the difference between compliance and audit?”....More