Compliance & Anti-Financial Crime
Leadership | Insight | Network

Analysis, Compliance News, EU/Europe, Regulatory

Almost a tenth of financial services firms still breaking AML laws passed in 2017; new report suggests lower turnover means lower interest in compliance

By Dan Byrne for AMLi

Nearly one in ten firms in the UK’s financial services sector still don’t undertake Business Wide Risk Assessments (BWRAs), despite the fact that it has been a legal requirement for years.

The results of a new report by global law firm DWF Group suggests that 9% of surveyed financial services firms are guilty of this AML failure, which means they are also guilty of violating British money laundering regulations that were passed in 2017.

AML Intelligence
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!