Elevate your Compliance and Security with Intelect Group. Our monthly round up of news items which are of particular relevance to those businesses regulated for the purposes of Anti-Money Laundering.
‘We prevent bad things happening to good people and their businesses’.
Cyber Security
Which industry has been most impacted by cybercrime in 2024?
It will probably come as no surprise that according to UK Government statistics, half of UK businesses in the winter of 2023/24 reported some form of cyber security attack in the past 12 months.
But which industries do you think are being hit the hardest?
It’s Finance, Information and Professional services.
Note – Is it time to make sure your staff are trained? We offer CPD certified eLearning courses with discounts for bulk purchases, and a branded, personalised login page find out more here.
Organised Crime
Heard of TOC?
TOC is Transnational Organised Crime and is a multi-billion-dollar business. TOCs are crimes that are planned, co-ordinated and cross borders. By their very nature they involve the collaboration of a variety of criminal networks who will be involved in cybercrime, human trafficking, drugs, arms and more
Of course, the majority of TOCs generate illicit funds and for that reason it should be of interest to anyone working in the field of Anti-Money Laundering,
Note – The story at the link below is well worth a read.
Regulatory
Sanctions update
On 21st November 2024 the U.S Treasury Sanctioned Gazprombank and took additional steps to curtail Russia’s use of the International Financial System.
OFAC has designated Gazprombank Joint Stock Company (Gazprombank) alongside its six foreign subsidiaries. Gazprombank is a known conduit for Russia to purchase military material for its war effort against Ukraine. The Russian government also uses the bank to pays its soldiers and to compensate the families of Russian soldiers killed in the war. Australia, Canada, New Zealand, and the United Kingdom have previously sanctioned Gazprombank.
Note – Investigation Engine will help your organisation keep up to date with changes in sanctions.
