+更多
专家名录
唐朱昌
唐朱昌
教授,博士生导师。复旦大学中国反洗钱研究中心首任主任,复旦大学俄...
严立新
严立新
复旦大学经济学院、金融研究院副教授,中国反洗钱研究中心执行主...
陈浩然
陈浩然
复旦大学法学院教授、博士生导师;复旦大学国际刑法研究中心主任。...
何 萍
何 萍
华东政法大学刑法学教授,复旦大学中国反洗钱研究中心特聘研究员,荷...
李小杰
李小杰
安永金融服务风险管理、咨询总监,曾任蚂蚁金服反洗钱总监,复旦大学...
周锦贤
周锦贤
周锦贤先生,香港人,广州暨南大学法律学士,复旦大学中国反洗钱研究中...
童文俊
童文俊
高级经济师,复旦大学金融学博士,复旦大学经济学博士后。现供职于中...
汤 俊
汤 俊
中南财经政法大学教授,计算机科学与技术专业工学博士,复旦大学理论...
李 刚
李 刚
生辰:1977.7.26 籍贯:辽宁抚顺 民族:汉 党派:九三学社 职称:教授 研究...
祝亚雄
祝亚雄
祝亚雄,1974年生,浙江衢州人。浙江师范大学经济与管理学院副教授,博...
高增安
高增安
复旦大学中国反洗钱研究中心特聘研究员,专事反洗钱与贸易领域的研...
顾卿华
顾卿华
复旦大学中国反洗钱研究中心特聘研究员;现任安永管理咨询服务合伙...
转发
上传时间: 2020-09-19      浏览次数:235次
Anti-Money Laundering: FCA criticised over lack of enforcement

 

https://www.estateagenttoday.co.uk/breaking-news/2020/9/anti-money-laundering-fca-criticised-over-lack-of-enforcement

 

The Financial Conduct Authority (FCA) has been criticised for its lack of enforcement of anti-money laundering (AML) legislation so far in 2020.

 

A Freedom of Information request has revealed that no criminal prosecutions have been made under AML legislation this year.

 

The same request also found that 14 of the FCA's investigations of possible AML breaches have been discontinued.

 

AML expert Martin Cheek, managing director of SmartSearch, is calling on the FCA to use the full weight of its enforcement power in the wake of the Covid-19 pandemic.

 

He says that due to the pandemic, there is an increasing risk of financial crime in the UK and that every effort should be made to crack down on that increased threat.

 

"There has of course been some welcome enforcement activity with hefty fines handed out in recent months," explains Cheek.

 

"However, now more than ever it would send out the right message if the FCA were to really flex its muscle and bring the full weight of [its] enforcement power to bear on offenders."

 

In a statement, the FCA said it has changed its approach and is now conducting investigations into suspected AML breaches which could give rise to either criminal or civil proceedings.

 

With less than four months to go of 2020, SmartSearch says it remains to be seen if any criminal prosecutions will be brought this year.

 

Cheek says the FCA must also play a key role in encouraging firms to 'move with the times' and use more secure technology to protect themselves against financial crime.

 

"The FCA faces a real challenge in dealing with the fallout of Covid-19 in terms of the increased levels of fraud and money-laundering, as criminals seek to take advantage of the situation," he explains.

 

"Unfortunately, there are still too many firms operating outdated processes that have not kept pace with the increasingly sophisticated methods employed by criminals, and they are vulnerable in this current climate."