Financial Crime Weekly Episode 22

Hello, and welcome to this week in financial crime. I’m your host, Chris Kirkbride. Actually, once again it’s been quite a varied week this week with lots of interesting stories, and one very interesting fraud announcement next week, if what’s doing the rounds on the news wires is anything to go by. Anyway, what will we be taking a look at? Well, there are some bits on sanctions – some useful Q&As – and a decent range of money laundering stories, including some quiet time for HSBC with an announcement by the US Federal Reserve. On fraud, some stuff coming out of the US on avoiding Social Media scams and updates to its Whistle-blower rules. In the UK there is a Call for Evidence on Unauthorised Account access and misuse of personal data. Finally, I take a brief look at the announcement by the dual regulators in the UK on the investigation into HBOS plc management following the global financial crisis. Yup, 15 years later and we’re still wittering on about it.

These are the links to the principal documents mentioned in the podcast: 

European Banking Authority, Report on the Function of the AML/CFT supervisory colleges in the European Union, together with the Press Release.

Law Society Sanctions and Russia Q&As from its Practice Advice Service

OFSI Blog, Reporting to OFSI: what do I need to do?

OFSI, UK Financial Sanctions Updated General Guidance for financial sanctions under the Sanctions and Anti-Money Laundering Act 2018

UK Home Office, Call for Information: Unauthorised Access to Online Accounts and Personal Data

US Department of Justice Press Release on Warrant of Seizure on PJSC LUKOIL aeroplane, and official court document

US Securities and Exchange Commission, Office of Investor Education and Advocacy, Social Media and Investment Fraud