The AML Watchman

The world of AML has changed out of all recognition over the last decade. Old crimes are subject to new laws, professional firms and financial institutions are subject to criminal sanctions and regulatory review as never before. Yet the individual client has virtually no say over what various national governments and their competing departments are doing to their rights and liberties in their name. This blog attempts to address the dilemma posed by the question “Quis custōdiet ipsōs custōdēs?”

Monday 23 May 2011

International Aid, Fraud, PEPs and Accountancy Firms.

The Coalition Governmemt of "Call me Dave" Cameron wishes to enshrine minimum compulsory contributions to internatuional aid into the UK budget. Please see the following link for details. Guardian Newspaper Article

However, the UK’s Independent on Sunday newspaper yesterday reported allegations of US $ 1 billion (approximately) of bank frauds in the Kabul Bank leading to international aid to

Afghanistan

being suspended. The article goes onto list PEP family members and two international accountancy firms as being linked to this story.

Now come on people, the surprise here is…..?

Your comments, as ever, much appreciated.