Teodora Harrop, FICA

This post has been provided courtesy of ICA

March 14, 2022

Learning points from the HSBC fine – practical steps businesses can take

No regulator in any jurisdiction prescribes the use of automated systems to carry out transaction monitoring. Yet increasingly, those institutions handling larger numbers of transactions are finding the manual approach problematic in mitigating financial crime risk. Even significant investment in …

March 3, 2022

Red flags for illegal wildlife trafficking

This article, the third in our series on the illegal wildlife trade, explores red flags and the importance of timely, quality reporting. Recent studies into the supply and demand of wildlife have revealed an unwelcome picture. One review [1] of …

February 28, 2022

How to help prevent the illegal wildlife trade

Competing priorities mean that there are today many areas jostling for a compliance officer’s attention. But amid the din, there is one vital area often inadvertently overlooked: the illegal wildlife trade. We do so, however, to our great cost.    Targeting …

February 21, 2022

Raising awareness of the illegal wildlife trade

The United Nations has proclaimed 3 March as World Wildlife Day, in order to celebrate and raise awareness of the world’s wild fauna and flora [1] . This article, the first in a series on the illegal wildlife trade, examines …

January 4, 2022

Pandora Papers – How to identify ultimate beneficial owners

Ultimate beneficial owners (UBOs) have once again come under scrutiny following the release of the Pandora Papers. What better opportunity, then, to reflect on the European regulatory landscape and best practice examples for financial institutions to enhance their systems and …

July 26, 2021

The importance of transaction monitoring – and the cost of getting it wrong

In response to a variety of AML legislation over the years, transaction monitoring has today evolved to the point where the emphasis is now on the requirement that firms carry out ongoing monitoring of client relationships. Financial institutions have invested …

May 4, 2021

Sanctions are constantly changing. Here’s what firms can do.

Over the last five years, there has been a significant shift in the sanctions world, from traditional jurisdictional and list-based sanctions to those that are more nuanced and thematic. This ICA Insight piece will explore the jurisdictional evolution of sanctions, …