SRA Diversity Survey 2023 - What You Need to Know
VinciWorks
by VinciWorks
1d ago
The Solicitors Regulation Authority (SRA) has announced that its mandatory diversity survey will be due on 23 July 2023, with reporting open from 26 June. In this episode, VinciWorks' EDI expert Nick Henderson-Mayo speaks to Compliance Office's Director and Founder Andy Donovan to give firms guidance on what needs to be reported, which firms need to report, why the survey is so important, and more. We also take you through the free reporting tool VinciWorks is offering to help you collect and aggregate the relevant data from your staff. Additional resources: Request our free data collection s ..read more
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GDPR - Five Years On
VinciWorks
by VinciWorks
1w ago
The EU’s General Data Protection Regulation (GDPR) has now been in force for five years. During that time, fines have totalled close to €2.8 billion, with over €1 billion in fines coming in the past 12 months. The most recent fines show that both large and small businesses are subject to regulators’ scrutiny. Recorded the day before GDPR's fifth anniversary, in this episode we look at the effect the regulation has had on the way we collect and process data and what we can expect going forward. We were joined by our own in-house DPO to take you through the key developments in GDPR from across t ..read more
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FCA compliance — Are you doing enough to combat money laundering?
VinciWorks
by VinciWorks
2w ago
The UK ranks second highest among money laundering hot spots worldwide, with an estimated £88 billion laundered each year. Financial institutions are responsible for catching the bad actors to prevent and stop money laundering. But unfortunately, it’s not always easy to identify who they are. In this episode, we are joined by Nick Henderson-Mayo, VinciWorks’ Director of Learning and Content, Naomi Grossman, VinciWorks’ Learning and Content Manager and Sandra Erez, VinciWorks’ Director of Global Enterprise Sales, to explore money laundering, how it impacts financial services firms, and what fir ..read more
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The Money Laundering Files: Glencore Pays Record £281m for Bribery in Africa
VinciWorks
by VinciWorks
3w ago
This case involves the mining and commodities giant Glencore, which was fined £281m for using bribes to bolster its oil profits in five African countries. The company paid cash bribes to officials in the country’s national oil and gas companies. Resources: Try our AML compliance training: https://vinciworks.com/courses/aml/ Download free AML resources: https://vinciworks.com/resources/aml/ Learn more about our AML onboarding solution: https://vinciworks.com/products/omnitrack/aml-onboarding ..read more
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The Money Laundering Files: Lafarge Guilty of Providing Material Support to ISIS
VinciWorks
by VinciWorks
1M ago
In this episode, we look at a case involving the US government's first-ever prosecution of a corporation for providing material support for terrorism. In this case, Lafarge and its subsidiary pled guilty to giving donations and “taxes” to ISIS and al-Nusrah Front (ANF), two of the world’s most notorious terrorist organisations, in exchange for the continued operation of their cement plant in Syria. The company received a nearly $800 million fine. Resources: Try our AML compliance training: https://vinciworks.com/courses/aml/ Download free AML resources: https://vinciworks.com/resources/aml/ L ..read more
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The Money Laundering Files: Ex-Premier League Star Richard Rufus Jailed Over £15m Fraud
VinciWorks
by VinciWorks
1M ago
Richard Rufus was part of both Charlton Athletic teams that earned promotion to the Premier League during the Alan Curbishley era, playing in the 1998 Football League First Division play-off final against Sunderland that Charlton won on penalties. Ten years after being inducted into Charlton's Hall of Fame in 2013, he was convicted for fraud. He was able to convince friends, family members and associates to invest with him by claiming he was getting 60% in returns. One victim testified that he was told by Rufus that he only traded 5% of the capital investment, which meant 95% would have been r ..read more
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The Money Laundering Files: Understanding China and its Risks
VinciWorks
by VinciWorks
1M ago
China is of growing concern to compliance professionals on a number of fronts. From sanctions on Uyghur forced labour to supply chain disruption to warnings about China’s banks, the world’s second-largest economy is both of critical importance and an increasingly critical risk. In this episode, we look at China’s role in corporate compliance, and what companies should be aware of when doing business with or in China ..read more
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The Money Laundering Files: Commerzbank Makes the List
VinciWorks
by VinciWorks
1M ago
In this episode, Nick and Naomi are back to talk about yet another big money laundering case involving a bank. This time they look at how banks can mess up their anti-money laundering systems - and get fined, royally. Specifically, Commerzbank’s London Branch being hit with a whopping £38m fine by the FCA for not having good AML controls.   ..read more
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Compliance 101: An Update From the Law Society's Risk and Compliance Conference
VinciWorks
by VinciWorks
2M ago
What are the big topics affecting law firms? In this special episode recorded shortly after the Law Society's Risk and Compliance conference, Gary Yantin and Nick Henderson break down the key issues of concern for the legal industry ..read more
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The Money Laundering Files: ‘Made in China’ Makes the List
VinciWorks
by VinciWorks
2M ago
In a case before the High Court, the World Uyghur Congress argued that UK authorities should have launched money laundering investigations into the cotton imports brought into the UK from the Xinjiang region of china because of the high likelihood of forced labour that was present at the start of the supply chain. The court refused the claim but the reasons indicated that other supply chain challenges could be successful in the future. Companies doing business in China should be on high alert. In this episode, we dig into the implications of the case for companies dealing with suppliers in Chi ..read more
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