Partner Jessica Parker has written for Law360 on the four lessons learned from the news that MT Global Ltd., a money services business in Luton, England, received a record fine of £23.8 million (approximately $32.5 million) for breach of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017.
“The fact that a large penalty has been issued to a money services business, or MSB, will come as no surprise to those familiar with HMRC’s efforts to crack down on the industry. This article examines the roots of that crackdown and discusses what lessons can be learned from this, the largest ever penalty issued for insufficient money laundering controls,” writes Jessica.
To access the article in full, click here.
Tasha Benkhadra writes for the FT Adviser on the FCA’s whistleblowing campaign
June 23 2022
Andrew Smith and Joseph Hume write for PLC Magazine on the relationship between statutory and common law fraud offences
June 10 2022
Andrew Smith writes for The Law Society Gazette on acting for Russian clients during the Ukraine war
May 30 2022