The Suspicious Transaction Report is a new fortnightly podcast from the Centre for Financial Crime and Security Studies at RUSI. https://rusi.org/expertise/research/centre-financial-crime-and-security-studies The podcast offers ‘behind-the-scenes’ insights and practical advice on how to implement the latest financial crime research in the real world. In this preview episode of the ‘Suspicious Transaction Report’ podcast, Isabella Chase talks […]

The NCA has been granted freezing orders on eight bank accounts containing a total of more than £100 million, which is suspected to have derived from BRIBERY AND CORRUPTION IN AN OVERSEAS NATION. The Account Freezing Orders (AFOs) were obtained at Westminster Magistrates Court on 12 August, and represent the largest amount of money frozen using […]

What has happened? On 8 July 2019, the English High Court handed down judgment in proceedings between N and The Royal Bank of Scotland plc (“RBS“) ([2019] EWHC 1770 (Comm)). Following the conclusion of related proceedings brought by the National Crime Agency (“NCA“), the court was required to consider whether RBS had acted lawfully in freezing […]

The National Crime Agency boss Lynne Owens has been quoted as saying “We are looking to focus on corrupt professional enablers over the next 12 months.” This weekend (13/14 JAN 2018) she revealed the agency is “finalising” its first case against senior bankers for bribery and money laundering. “Specialist techniques” normally reserved for organised crime […]

Clamping down on high-end money laundering should be top of the enforcement agenda, says Claire Shaw. Better co-ordination & information sharing will feed into a more informed enforcement picture in the future. The dearth of UK prosecutions for money laundering offences has been widely discussed in recent times, both in government circles and in the […]

In the case of National Crime Agency v N and Royal Bank of Scotland plc [2017] EWCA Civ 253, the Court of Appeal allowed the appeal of the National Crime Agency (NCA) against orders for a bank to execute customer transactions, without consent from the NCA, when the bank had made suspicious activity reports on […]

The NCA has released guidance on submitting better quality SARs. http://www.nationalcrimeagency.gov.uk/publications/732-guidance-on-submitting-better-quality-sars/file?utm_source=Concep%20Send&utm_medium=email&utm_campaign=AML_newsletter_01/31/2017

Three employees of major banks have been arrested as part of a investigation of insider dealing sparked by intelligence from the leak of the panama papers, it has been claimed. More arrests are planned in the joint-investigation by the FINANCIAL CONDUCT AUTHORITY (FCA) and the NATIONAL CRIME AGENCY (NCA), Bloomberg news reported. The existence of […]