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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Neil Hodge2022-09-27T13:54:00
The U.K. government said it wants to give Companies House more power and resources to help combat money laundering.
The Economic Crime and Corporate Transparency Bill aims to stem the flow of dirty money coming into the United Kingdom. The bill would give the organization—which provides a public register of businesses, their accounts, and their directors—new powers to “check, challenge, and decline” false information when new companies are set up.
Companies House’s investigation and enforcement powers would also be beefed up, enabling it to cross-check data with other organizations and report suspicious activity to security agencies and law enforcement, the U.K. government stated in a Sept. 22 press release.
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News and analysis for the well-informed compliance or audit exec. Select an option and click continue.
Annual Membership $499 Value offer
Full price one year membership with auto-renewal.
Membership $599
One-year only, no auto-renewal.
2024-08-06T16:54:00Z By Adrianne Appel
Nearly all but a tiny minority of financial institutions saw their costs of financial crime compliance rise in 2023, a survey by LexisNexis and Oxford Economics found.
2023-11-24T15:14:00Z By Neil Hodge
The success of the U.K.’s latest legislative efforts to tackle financial crime depends on the capability of transforming what is often regarded as one of the country’s most passive regulators into a proactive—even aggressive—prosecuting authority.
2023-10-26T19:07:00Z By Kyle Brasseur
The United Kingdom adopted the Economic Crime and Corporate Transparency Act, which aims to stem the flow of dirty money coming into the country through enhancements to government agency capabilities and law enforcement.
2024-10-22T14:37:00Z By Aaron Nicodemus
The Department of Justice (DOJ) has proposed a new rule that would regulate the use of Americans’ personal information by foreign companies and foreign persons in six “countries of concern,” prohibiting and restricting the sale of data to thwart the use of data for cyber-enabled activities, espionage, coercion, influence and ...
2024-10-17T17:42:00Z By Adrianne Appel
New York financial institutions are expected to address cybersecurity risks posed by artificial intelligence (AI), and new guidance from the New York Department of Financial Services is aimed at helping firms do just that.
2024-10-17T16:22:00Z By Neil Hodge
Concerns about how robustly European member states may enforce the EU AI Act, which took effect on Aug. 1, are divided between if regulators will take a “light touch” approach or a sledgehammer for noncompliance. One thing’s for sure, the pace of AI innovation will make enforcement very difficult.
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