FSA Financial Crime Conference

The FSA has published a speech given by Philip Robinson (Financial Crime & Intelligence Division Director) at the FSA’s Annual Financial Crime Conference on 22 January 2007. In his speech Mr Robinson covers recent developments in anti-money laundering regulation and the new Fraud Act. Mr Robinson advises that one major price of work that the FSA will carry out this year is an assessment of whether firms across industry have implemented the revised JMLSG Guidance. Part of this work will involve a review of whether firms and their senior management are identifying the money laundering risk to their business model and operating a genuine risk-based approach to mitigating it.

Financial Sanctions: Terrorist Financing

The Bank of England issued a news release on 1 February 2007 in respect of financial measures taken against 2 individuals.