NCIS said its assumption was that the number of money laundering reports it receives would double to around 200,000 this year, but claimed it was ready.
Nigel Coles, NCIS assistant director and head of the financial intelligence division, defended the policy of obliging accountants and others to report all suspicions of money laundering, regardless of the amount.
In an interview with the Financial Times, Coles said: ‘In terrorist cases it is relatively lesser levels of funds that support day-to-day activity.’ The compliance burden on accountants had been minimised, he claimed.
Harrison Beale & Owen will (HB&O) have a new chairman and managing director at the helm for 2017
Satvir Bungar promoted to managing director in the mergers and acquisitions team
Carolyn Brown appointed as the first head of client legal services practice RSM Legal
UK senior partner Phil Verity has been elected for a second term at Mazars