Law360, London (September 6, 2019, 5:05 PM BST) -- Ireland’s central bank issued guidelines to businesses on Friday on how to spot dirty money after European law enforcement authorities estimated that between €715 billion ($790 billion) and €1.87 trillion is laundered globally every year.
Companies must make sure their policies for spotting possible money laundering are up to date and constantly scrutinized, the central bank said. It encouraged businesses to look any corruption risks that might be associated with their customers.
“Firms should be asking questions like: Who are my customers? Who are the beneficial owners of the accounts they are opening?” Derville Rowland, the central bank’s director general of...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!