Proceeds of Crime and Confiscation legislation is designed to deprive offenders of ill-gotten gains. Where the legislation is silent on the issue of victims rights, victims may be able to seek equitable relief. Read more
banks
AML/CTF customer due diligence changes
Are you prepared for the new AML/CTF compliance obligations? Click to read more. This is a useful summary of changes to the customer due diligence requirements of the AML/CTF Rules. The changes come into effect from 1 June 2014 however an implementation period applies until 1 January 2015.
AMLCTF: Criminal consequences for financial institutions
In addition to civil penalties, failure to report a suspicious matter can also expose a reporting entity to a criminal prosecution for money laundering. Read more