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Hawala, an informal value transfer system, has long been a cornerstone of remittance services across various communities, particularly within South Asian and Middle Eastern diasporas.…
The UK government has announced its decision to abolish the Payment Systems Regulator (PSR), merging its responsibilities into the Financial Conduct Authority (FCA). This move…
The Financial Action Task Force (FATF) has announced its latest updates to the high-risk jurisdiction lists as of February 2025. These revisions reflect the progress…
The UK’s anti-money laundering (AML) landscape continues to evolve as regulators tighten measures to combat financial crime. With new enforcement actions, updated legislation, and technological…
Estate agents in the UK play a critical role in preventing financial crime, particularly when it comes to property transactions. Under the Money Laundering Regulations…
Anti-Money Laundering (AML) compliance is a critical function for regulated entities, ensuring they detect and prevent illicit financial activities. However, AML compliance presents several challenges,…
From 14 May 2025, the UK government is expanding financial sanctions reporting obligations to include letting agents and all tenancies. This change means that agents will now be required to report to the Office of Financial Sanctions Implementation (OFSI) if they know or suspect that a person is a designated individual or has breached financial sanctions regulations. This obligation applies when such knowledge or suspicion arises during the course of business activities.
In an increasingly complex and interconnected global economy, transparency within corporate structures has become a critical focus for regulators, businesses, and financial institutions. Identifying Ultimate…
In 2024, the UK’s anti-money laundering (AML) landscape for estate and letting agents underwent significant changes aimed at enhancing compliance and reducing financial crime within…
In 2024, the UK’s anti-money laundering (AML) landscape for estate and letting agents underwent significant changes aimed at enhancing compliance and reducing financial crime within…