Searching Content indexed under Money Laundering by CMS Cameron McKenna Nabarro Olswang LLP ordered by Published Date Descending.
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Banks' Obligations To Customers Are Subject To Money Laundering Reporting Requirements
A recent case has established that banks will not be liable to customers for delays in processing transactions while waiting for clearance under UK anti-money laundering legislation.
28 May 2012
Banks May Have To Prove POCA "Suspicions" When Delaying Carrying Out Instructions
In a judgment handed down on 4 February, the Court of Appeal held that a bank which makes an authorised disclosure under the Proceeds of Crime Act 2002 (POCA), preventing it complying with a customer’s payment instruction, may have to prove its suspicions at trial – summary disposal of the question without disclosure and evidence is not appropriate.
9 Feb 2010
Constructive Trusts: The Lurking Danger
A banker receiving an unexpectedly large deposit into an account has to juggle the risks of a number of threats: avoiding liability in money laundering, tipping-off offences, and not least the threat posed by the civil law concept of constructive trust.
25 Mar 2009
New Anti-Money Laundering Laws
From 1 September 2008, new measures will come into force to combat money laundering and the financing of terrorist activities.
Czech Republic
24 Jul 2008
New Anti Money Laundering Rules Issued By the FSA
New anti money laundering rules came into force on 1 September 2006. The Money Laundering Sourcebook in the FSA Handbook has now been replaced with new provisions contained in the Systems and Controls Sourcebook. The new rules seek to promote the existing risk based approach to money laundering prevention.
19 Sep 2006
Banks and the Proceeds of Crime Act 2002 - Court of Appeal Decision
A recent case in the Court of Appeal has confirmed that there is no breach of mandate where a bank refuses to comply with a customer's instruction after making a notification to the relevant authorities in accordance with the Proceeds of Crime Act 2002 (the "Act").
26 Jul 2006
FSA Annual Public Meeting
The FSA held its sixth Annual Public Meeting on Thursday 21 July. Callum McCarthy, the Chairman of the Financial Services Authority, gave the opening speech.
4 Aug 2005
Money laundering reporting requirements refined at last
The government finally appears to have acknowledged that the current money laundering reporting regime is onerous. The need for refinement was recognised last month by the chairman of the Serious and Organised Crime Agency, the body which will take responsibility for money laundering from NCIS next April. Sir Stephen Lander told a Financial Times conference that he intended to make the reporting system ess time-consuming and more effective and to create a closer partnership with the private se
5 Jul 2005
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