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Matthew Cowie details how professional bodies in the UK regulated sector are being urged to improve their AML reporting

Author: Matthew Cowie  17 June 2024

Posted in : Anti-Money Laundering .

FT Adviser published a Matthew Cowie article about professional bodies in the UK regulated sector being urged by the anti-money laundering supervisor, the Office for Professional Body Anti-Money Laundering Supervision (OPBAS), to improve their reporting.

Matthew’s piece outlines OPBAS’ concerns and the contents of a joint letter it sent with the Treasury, requesting a specific focus on the quality of suspicious activity reports (SARs) under the Proceeds of Crime Act 2002. 

He explains that the Treasury and OPBAS are not alone in believing that suspicious transaction reporting should be improved, with the government and the Law Commission having analysed the effectiveness of the SAR system in recent years.

The full article can be read here.

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Matthew Cowie

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Matthew is a partner at Rahman Ravelli. He is an award-winning white-collar crime lawyer with a successful track record in groundbreaking cases and the largest corporate investigations. He led cases that shaped how the UK investigates international corruption, including some that helped prompt the creation of the Bribery Act 2010 and the introduction of DPAs. Matthew acted for Airbus in the largest-ever global foreign bribery resolution.

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