Opinion paper from regulatory expert Peter Oakes
Over the past 5 years, there has been a steady ramp in the level of AML enforcement activity. A recent report noted that financial intuitions globally have paid $26 billion US (€22bn) in fines for failures in money laundering and customer verification and sanctions since the global financial crash.
In this paper, we observe:
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About Peter Oakes
Peter is an internationally recognised expert on fintech, central banking, regulatory supervision, enforcement, law and financial crime. A qualified lawyer, he has held numerous executive and non-executive directorships including currently at Susquehanna International Securities Limited and TransferMate Global Payments, and was previously an Executive Director and Chief Risk Officer at Bank of America Merchant Services Europe.
Peter is a Risk Advisor to a number of UK FCA regulated firms. Peter is a solicitor admitted in three international jurisdictions – Ireland, the United Kingdom and Australia.