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Westminster City Council counters London's "laundromat" reputation

More focus on AML in London and modern slavery in the UK; Canada updates AML assessment amidst frustration over sanctions blocking access to legitimate funds.

Napier AI
April 14, 2023

Westminster City Council counters London's "laundromat" reputation for money laundering; in Canada, the Government publishes an updated AML assessment as frustration over sanctions blocking legitimate money grows; efforts to tackle modern day slavery stall in the UK; and a new report on wildlife crime in Africa is published. Read more on these stories below:

Westminster City Council launches charter to combat money laundering in London's high-end districts

Westminster City Council, supported by major business groups, launches a new charter to combat London's reputation as a money laundering hub. The Dirty Money Charter 2023 aims to reduce opacity around overseas ownership and ownership structures, and encourages tenants and leaseholders to be transparent.

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Canada's AML measures: a comprehensive update on inherent risks

Canada publishes an updated assessment of the inherent risks of money laundering and terrorist financing. The assessment consolidates work done between 2015 and 2020, benchmarking risk before the application of any mitigation measures. The report highlights overall vulnerabilities and is a key element of Canada’s counter-terrorism strategy.

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Canadian funds remain frozen by sanctions despite no ties to Putin

Canadians with no connections to President Putin or his regime are still facing difficulties transferring funds due to Canada's sanctions regime, over 13 months after the Ukrainian invasion. Salaries, retirement investments and even funeral savings are just some of the assets caught up in the sanctions, resulting in frustration and anxiety.

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Report reveals convergence of organised crime in illegal wildlife trade in Africa

A new report from the Global Initiative Against Transnational Organized Crime analyses the dynamics and breadth of crime convergence related to the illegal wildlife trade in Eastern and Southern Africa. The report calls for a deeper understanding of the wildlife crime value chain and its convergence with other types of organised crime, in order to disrupt more wildlife trafficking networks.  

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UK anti-slavery efforts falter as companies ignore transparency rules

Efforts to combat modern slavery in the UK falter, with the number of companies disclosing anti-slavery measures within their supply chains almost halving, according to an analysis by the Chartered Institute of Procurement and Supply (Cips). The study found that only 29% of companies required to produce a modern slavery statement submitted it to the government registry for 2022, and called for better enforcement of transparency rules.

Read more here

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