Due Diligence Diaries 2/2/2023

Beneficial ownership enforcement

Companies House is reported to be assessing and preparing cases for enforcement action against overseas companies who own UK land and have not registered their beneficial owners.


Regulation for crypto on the way

Robust regulation of crypto assets is expected to be introduced by the UK Financial Conduct Authority. The FCA has said that more than 80% of licence applicants in the sector were unable to show they were able to comply with AML regulations.


Major gaming operator under investigation

Gaming operator 888 Holdings is facing regulatory scrutiny after allegations of money laundering in its Middle East operations have arisen. VIP customer accounts in the region have been suspended after KYC procedures have fallen short.


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