EVENT: Members briefed on the new Criminal Finances Act

Date: 28th September, 2017 Time: 06:00 pm - 09:00 pm
Members briefed on the new Criminal Finances Act

The Criminal Finances Act is the latest in a series of moves by the British government to tighten legal and regulatory controls on crime and corruption. The Act creates the new offence of 'Failure to Prevent the Facilitation of Tax Evasion' and strengthens the authorities' ability to investigate 'unexplained wealth' (such as a person owning an expensive property or an expensive car when s/he has no visible way of affording it). The Act also ammends the Proceeds of Crime Act (POCA) to enable the authorities to request more information after receiving a Suspicious Activity Report (SAR) - creating a so-called 'super-SAR'.

Some of the Act's provisions became effective on 30 September, making the briefing very timely. 

Jo Rickards, a partner with Mishcon de Reya, explained the legal aspects of the new law. Her presentation is attached below.

Tom Townson and Dana Ward, partners with Grant Thornton, then outlined how firms should respond to the Act. 

This seminar forms part of the ABA's mission to keep its members informed about new regulatory and legal developments that affect their work.

After the presentations and questions and answers, participants were able to mix with speakers informally and enjoy a buffet dinner. 

 

Mishcon de Reya Slides

More in Events

ABA Operational Resilience Group meeting

ABA Operational Resilience Group meeting

PWC hosted a meeting of ABA member banks to consider ways in which they could work together to strengthen their operational resilience.

  • Date: 30th September, 2019
  • PwC Offices, London

Meeting with Financial Conduct Authority

Meeting with Financial Conduct Authority

We hosted a meeting between the Financial Conduct Authority and Arab banks in London. 

  • Date: 19th September, 2019
  • ABA Offices

The weather smiles on ABA Summer Party

The weather smiles on ABA Summer Party

Our Summer Party was the last in a busy series of series of mid-year events.

  • ABA Offices, Mayfair

Annual Real Estate Seminar

Annual Real Estate Seminar

Our annual real estate seminar drew more than 100 participants and included a lively discussion on the consequences of Brexit on the London property market.

  • Date: 10th July, 2019
  • ABA offices, Mayfair

Eid Dinner party at Noura restaurant

Eid Dinner party at Noura restaurant

We held our Eid party at Noura Lebanese restaurant in Belgravia. 

  • Date: 11th June, 2019

Upcoming ABA Events


Other Upcoming Events