The growth of the UK gambling market, in particular online, has brought with it new opportunities for exploitation by criminals. Awareness of the way in which criminals may seek to use operators to launder the proceeds of crime and robust controls to prevent this is therefore key. As part of our Financial Crime Spotlight series
MoU between the Gambling Commission and the FCA
On 1 May 2024, the Financial Conduct Authority (FCA) published a Memorandum of Understanding (MoU) with the Gambling Commission. The MoU establishes a framework for cooperation, coordination and information sharing between the Gambling Commission and the FCA. It sets out broad principles for collaboration and the legal framework governing the sharing
FCA Dear CEO letter warning firms about common failings identified in AML frameworks
On 5 March 2024, the Financial Conduct Authority (FCA) issued a warning to firms about common failings it has identified in firms’ financial crime controls. It wrote to CEOs of Annex 1 firms, setting out the findings from its recent assessments of how firms are complying with anti-money laundering (AML) regulations.
New Regulation Tomorrow Plus podcast: Submitting better SARs – A guide for MLROs and in-house teams
In our latest Regulation Tomorrow podcast, Senior Knowledge Lawyer Catherine Pluck is joined by Senior Associate Rebecca Dulieu and Associate Lizzie Cox, both of whom specialise in regulatory investigations and enforcement, to discuss reporting obligations under the Proceeds of Crime Act 2002 (POCA), in particular how to draft and submit good quality