Latest opinions that Simon Luke has shared on Finextra

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Simon Luke

UK Country Manager

First AML

Member since

14 Apr 2022

Location

London

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Simon's opinions

Hidden value: how to uncover the dark origins behind unusual wealth types

Unusual wealth types provide criminals with an avenue for money laundering. Cryptocurrencies, artwork and luxury goods all have properties which make them the perfect vehicle for hiding the true origins of criminal profits. With these assets hard to value, trace and verify, how can compliance officers spot illegal activity? And what should they ...

07 August 2023 /regulation /crime

What does the EU UBO register access removal mean for compliance?

The EU UBO (Ultimate Beneficial Owner) register is a central database that contains information about the beneficial owners of companies and other legal entities within the European Union. It is designed to increase transparency and combat money laundering, terrorist financing, and other financial crimes. Recently, there have been some changes to...

09 May 2023 /regulation /crime

The ECJ’s new ruling on the beneficial ownership register is bad news for AML

In 2015, the European Parliament passed a directive “on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing”. Under this article, member states were obliged to ensure access to beneficial ownership to those with a legitimate interest. In 2018, this was extended to any member of the genera...

11 January 2023 /crime Banking Regulations

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