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This Court of Appeal decision raised the important question whether a bank’s obligation to make standard disclosure requires it to reveal the names of the bank employees who report suspicions of money...
Money laundering – do you need to disclose bank employee details?
Last year, the Court of Appeal decided that a claimant was entitled to require a bank to prove its case that it was obliged to make a number of authorised disclosures to the Serious Organised Crime Agency. ...
Exploring a bank’s suspicions of money laundering
The Proceeds of Crime Act 2002 (“the Act”) provides obligations on a bank to notify the authorities if they suspect a customer of money laundering.
As the Court of Appeal noted, a bank is in the...