Failing to file a Suspicious Activity Report Background In the first prosecution of its kind in Jersey, the Royal Court has acquitted Michelle Jardine (represented by Advocate Nuno Santos-Costa) and STM Fiduciaire Ltd (represented by Advocate David Steenson) of charges under the Proceeds of Crime (Jersey) Law 1999 (POCA). This is the first time anyone […]

In Parvizi v Barclays Bank Plc (2014), the High Court struck out a claim in contract and held that Barclays was not in breach of that contract in freezing a customer’s accounts and denying him access to his funds.  The evidence established a clear belief by the bank of a relevant suspicion of money laundering […]

From 1 June 2015, UK-based businesses will have greater freedom to report suspicions of money-laundering without risking liability to customers, due to an amendment being introduced to UK money-laundering law. The Proceeds of Crime Act 2002 (POCA) criminalises money-laundering in the UK. A regulated business, or a person working in such a business, commits an […]