Speaking to Scott Rosenblum, he sheds light onto this topic and briefly explains what embezzlement is and the penalty involved. What is embezzlement? Generally, embezzlement occurs when a person has lawful possession of the property of another, converts or takes that property for their own use, and has no intention of giving it back. The […]
10 January 2020 is a date that the business world cannot afford to ignore. It is the date the Fifth Anti-Money Laundering Directive (5AMLD) will become law throughout the European Union. And it places plenty of responsibility on many of those in business.
Following the news that Zamira Hajiyeva, who is currently fighting the UK's first Unexplained Wealth Order (UWO), spent £16m in Harrods without raising suspicions, Dominic Bulfin, solicitor at leading luxury asset firm Bargate Murray, explains how the UWO regime is intended to function and what risks it might pose to the superyacht and luxury asset markets. […]
Last week, US Securities and Exchange Commission (SEC) chairman Jay Clayton spoke to the New York Economic Club about the need for other countries to follow the Unites States’s lead in punishing corporate bribery and corruption.
When the 4th Anti-Money Laundering Directive was introduced in 2017, it fundamentally changed the way businesses handle money, and one part of this directive which is often overlooked is the need for an independent audit of AML processes to be carried out on a regular basis.
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