A compilation of guides, how-to's, tips and more from CCL Academy's highly professional subject matter experts who have significant industry/practitioner experience.
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What led TD Bank to receive the largest fine to date under AML law, and what should financial institutions do now?
On October 10th 2024, US Attorney General, Merrick B Garland, announced that TD Bank had pleaded guilty to multiple felonies under the Bank Secrecy Act and Money Laundering Conspiracy violations. TD Bank agreed to pay a total penalty of just... -
The DFSA’s approach towards the prevention of greenwashing
Regulators globally are taking steps to address the problem of greenwashing and in this article, we outline the approach taken by the Dubai Financial Services Authority (DFSA). -
UK regulator implements new Anti-Greenwashing Rule
In November 2023, the FCA confirmed that it would be introducing various measures relating to sustainability disclosures, including a new set of labels for investment funds, as well as a new ‘Anti-Greenwashing’ (AGW) Rule. The AGW rule is the first... -
UK regulator warns firms over anti-money laundering failings
On 5th March 2024, the FCA issued a ‘Dear CEO’ letter to Annex 1 firms (i.e. firms that are supervised by the FCA for AML/CTF purposes only) which reiterated the importance of the ‘…fight against financial crime…’. It also sets... -
The increase in bribery and corruption and how to assess and manage associated risks
Almost every country in the world prohibits the payment of bribes to their own government officials, but the scale and ubiquity of bribery and corruption continue to worsen. Bruce Viney discusses the rise in bribery and corruption, some of the... -
Trade Based Financial Crime and Managing the Compliance Risk
According to the WTO Trade Volume Index 2022, world trade volumes have grown between 4% - 6% annually since 1995, and the total value of annual trade currently stands at around USD 31.0 trillion. This vast and still growing volume... -
How to combat Trade-Based Money Laundering: Podcast
Bruce Viney features in this month's episode of The Laundry as a guest speaker where he discusses how to combat Trade-Based Money Laundering. -
The patterns of AML compliance failures, and what they mean for your own firm
For those working in financial services, it is important to understand how and why enforcement action is taken against firms. This helps us assess our own firm’s AML controls against the key areas of failure highlighted in the cases, and... -
Compliance training – face-to-face or virtual?
Peter Haines discusses the ‘new normal’ in terms of hybrid working, and what this means for a firm’s compliance training programme. -
Proliferation financing: Carrying out a risk assessment
Proliferation financing can be considered to be the provision or processing of funds which are linked to the illegal manufacture, acquisition, development, transfer or use of chemical, nuclear or biological weapons of mass destruction and their means of delivery and... -
Fraud and the outlook for 2023
In the UAE, the Central Bank has formed a National Fraud Awareness Campaign in conjunction with Abu Dhabi police, Dubai police and others aimed at motivating customers to fight fraud by being informed. It has been reported that Dubai police... -
Reducing the risk of greenwashing of investment products
With rising concern about climate change pushing people to act in a responsible and sustainable way, the demand for financial services products and services with green or ESG (Environmental, Social and Governance) credentials is increasing. As a result, so too...