Author: Niall Hearty 20 February 2023
Gambling giant 888 saw its chief executive resign and its shares slump following money laundering failings. This prompted Niall Hearty to write about the need for strong anti-money laundering processes.
In an article, Niall outlines the obligations that gambling firms and all other companies that provide financial services are subject to under the Proceeds of Crime Act (POCA) and their need to comply with the directives and regulations of the global money laundering and terrorist financing watchdog, the Financial Action Task Force (FATF).
He emphasises the need for companies to have well-designed, carefully-operated programmes for assessing whether any money coming into the business may be the proceeds of crime.
Niall explains that 888’s problems are an indicator of what can happen if a company does not seek to identify and tackle its money laundering risks.
Niall's article was featured in The World Financial Review.
Niall has a wealth of corporate crime expertise and an ability to coordinate global bribery and corruption cases. His achievements in such investigations have made him a logical choice for corporate clients.