3 posts categorised "Matthew Russell"

18 May 2017

The risk assessment: A “reasonable procedure” to ensure your organisation is not facilitating tax evasion

By Matthew Russell With the Criminal Finances Bill recently receiving Royal Assent and the September implementation date for the new corporate offence of failure to prevent the facilitation of tax evasion fast approaching, our clients are starting to think about what “reasonable procedures” look like in the context of their...

05 February 2014

JP Morgan settlement reinforces the requirement for strong AML controls and effective transaction monitoring

By Matthew Russell On 7 January 2014 the Office of the United States Attorney for the Southern District of New York (“Attorney Office”) announced a Deferred Prosecution Agreement with JP Morgan Chase Bank, N.A. (“JP Morgan”) requiring the firm to pay a restitution of $1.7 billion to the victims of...

05 March 2013

The Draft Fourth European Money Laundering Directive – Evolution or revolution?

On 5 February 2013 the European Commission issued its proposal to update the Directive on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing (the “Money Laundering Directive”). This was anticipated following the recent revisions to the international anti-money laundering (“AML”)...