Anti Money Laundering in UK Law

Leading Cases
  • Group Seven Ltd and Another v Ali Nasir and Others
    • Chancery Division
    • 06 Octubre 2017

    Before 15 November 2011, there were obviously questions which needed to be asked as to where the €100 million had come from and how it was that Larn was able to transfer it to the Notable client account. The advice from Mr Choudhury of the Law Society was that he could only go so far and there would come a point when he could draw a line and form a judgment as to what he was dealing with.

    The real question is whether Mr Louanjli's statements and his email did assist Larn. Larn and Mr Nobre were seeking to satisfy Notable as to the source of the money in question. Larn and Mr Nobre wanted Mr Louanjli to support their case as to the source of the money in question. It is certainly possible to examine his statements and his email and to question whether anything of real substance was said.

    I accept that Notable wanted to have reliable, good quality information, in writing, as to the source of funds. However, despite its efforts, what Notable received was the oral confirmation on 3 November 2011 and the email of 14 November 2011, both from Mr Louanjli, and the Armajaro reference. Together, this information was not good quality information and the conversation on 3 November 2011 was not in writing, although Ms Ciserani made a written note of what was said.

  • Group Seven Ltd (a company incorporated under the laws of Malta) v Notable Services LLP
    • Court of Appeal (Civil Division)
    • 11 Abril 2019

    It is not enough that the defendant merely suspects something to be the case, or that he negligently refrains from making further enquiries. The judgments also make it clear that the existence of the suspicion is to be judged subjectively by reference to the beliefs of the relevant person, and that the decision to avoid obtaining confirmation must be deliberate.

  • Dreamvar (UK) Ltd v Mischon De Reya (A Firm)
    • Chancery Division
    • 20 Diciembre 2016

    As for MdR's position, it is common ground that it is insured for events such as this, and that its insurance cover is sufficient to cover in full the loss suffered, should it not be excused from liability. In terms of balancing the relative effects or consequences of the breach of trust, it is apparent that MdR (with or without insurance) is far better able to meet or absorb it than Dreamvar.

  • Otkritie International Investment Management Ltd and Others v Georgy Urumov (also Known as George Urumov) and Others
    • Queen's Bench Division (Commercial Court)
    • 10 Febrero 2014

    I am prepared to accept that in a very broad general sense, it may well be true to say that it is inherently improbable that a particular defendant will commit a fraud. However, as it seems to me, the court must in each case consider carefully what is — and is not — inherently probable having regard to the particular circumstances — but the standard of proof in civil cases always remains the same i.e. balance of probability.

  • Boris Abramovich Berezovsky (Claimant) Roman Arkadievich Abramovich (Defendant) Boris Abramovich Berezovsky (Claimant) Hine & Others (Defendants)
    • Queen's Bench Division (Commercial Court)
    • 31 Agosto 2012

    And, although this court necessarily views that evidence "Under Western Eyes 21", it has to be careful about applying what it might regard as conventional Western European business standards to judge the conduct of businessmen operating in the very different, and largely unregulated, commercial and political environment of Russia at the material times. As I remind myself: "… this is not a story of the West of Europe" 22.

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Books & Journal Articles
  • The Wolfsberg AntiMoney Laundering Principles
    • No. 5-1, March 2001
    • Journal of Money Laundering Control
    • 25-41
    On 30th October, 2000, a new initiative to combat money laundering was unveiled. What differentiates this initiative from many of the existing initiatives is that it has been put forward by the pri...
  • Antimoney laundering under Turkish law
    • No. 12-1, January 2009
    • Journal of Money Laundering Control
    • 88-92
    Purpose: The purpose of this paper is to analyze the antimoney laundering legislation and its implementation under Turkish law. The steps taken to combat money laundering in Turkey and the importa...
  • The Evolving EU Anti-Money Laundering Regime
    • No. 23-2, April 2016
    • Maastricht Journal of European and Comparative Law
    Over the past twenty-five years, the European Union has developed a far-reaching legal regime aimed at countering money laundering. The evolution of this regime has been linked inextricably with th...
  • Anti-money laundering regulations and its effectiveness
    • No. 17-4, October 2014
    • Journal of Money Laundering Control
    • 416-427
    Purpose: – The purpose of this study is to check the effectiveness of anti-money laundering (AML) regulations in Pakistan. The study investigates and analyses some key variables that may be influen...
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Law Firm Commentaries
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Forms
  • Chapter MLR3C3250
    • HMRC guidance manuals collection
    • HM Revenue & Customs
    ...... check the business has risk sensitive anti-money laundering policies and procedures in ......
  • Chapter MLR3C2093
    • HMRC guidance manuals collection
    ...... businesses are required to comply with anti-money laundering legislation by putting in place ......
  • Chapter MLR3C2108
    • HMRC guidance manuals collection
  • Chapter MLR3C1100
    • HMRC guidance manuals collection
    • HM Revenue & Customs
    ...... Money Service Businesses. High Value Dealers. ... irrespective of supervisor should follow the anti money laundering guidance issued by the ......
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