Scope of the 'reasonable excuse' defence

The finalised version of the Anti-Money Laundering (AML) Guidance, approved by the Treasury, offers additional information on when the defence may apply.


UK Branch of Pilatus Bank Closed Down

The Daphne Project revealed that more than 50 companies owned by the ruling elite of Azerbaijan moved millions of euros using Pilatus Bank.


Wealth managers accused of dodging capital rules

"This can be seriously disruptive for firms’ plans. It suggests there is work to do if firms’ own assessments of capital requirements are to be aligned with those of the regulator."