Combating financial crime is a serious issue for firms in the regulated sector and brings with it many challenges for compliance and legal practitioners. In tackling the scourge of money laundering, regulated firms often complain that they are dealing with a reporting system that is not fit for purpose and face challenges when they take steps to end relationships with customers who pose a high money laundering risk. In this episode, Daren Allen and Marija Bračković of Dentons' Business Crime and Investigations team and Nick Medcroft QC of Fountain Court Chambers discuss the implications, for firms, of the Law Commission's Report on the reform of the Suspicious Activity Reporting regime contained in the Proceeds of Crime Act 2002 and the implications of the recent judgment in N v. RBS.
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