The UK’s Financial Conduct Authority (FCA) has issued notice to financial firms with a high level of turnover of AML staff.
In a ‘Dear CEO’ letter sent to a number of financial firms, the FCA noted a high turnover of money laundering reporting officers (MLROs).
Subscribe now to have unlimited access
With our subscription, you will have unlimited access to the AML Intelligence site, updated daily with the latest analysis, opinion, and breaking news across the sector, newsletter delivered twice per week, access to our Global Bank Fines & Penalties database, free access to Boardroom Series and more!
FCA bans former Credit Suisse vice president following US criminal conviction
Financial Conduct Authority
Ms. Subeva is the third former Credit Suisse employee banned for lacking integrity, following their US convictions for conspiracy to commit money laundering connected to corrupt loans to the Republic of Mozambique.
On 20 May 2019, Ms Subeva pleaded guilty in the US for her role in a conspiracy to commit money laundering, which included accepting and retaining US$200,000 from one of her co-conspirators in unlawful kickbacks in connection with the loans
Operation ENDGAME strikes again: the ransomware kill chain broken at its source
Europol
Cybercriminals around the world have suffered a major disruption after law enforcement and judicial authorities, coordinated by Europol and Eurojust, dismantled key infrastructure behind the malware used to launch ransomware attacks. From 19 to 22 May, authorities took down some 300 servers worldwide, neutralised 650 domains, and issued international arrest warrants against 20 targets, dealing a direct blow to the ransomware kill chain.