This is a Financial Crime and Sanctions Essay. So, given their importance in detecting financial crime, what degree of transparency should the public and investors have, in relation to the publication of suspicious activity reports and why?
Financial Crime and Sanctions Essay
Essay Question” “Thus, SARs [Suspicious Activity Reports] are a potential treasure trove for plaintiffs and their attorneys…for use in civil litigation. This is particularly true now, in an environment in which banks tend to err on the side of reporting, rather than ignoring marginal activity. It is important that Coverholders understand the risks facing the insurance industry from financial crime and increased regulatory/legislative burdens. It is also important to understand their obligations to mitigate those risks. So, financial crime includes money laundering, bribery and corruption, and failure to adhere to international sanctions regimes. Lloyd’s requires both managing agents and Coverholders to implement proportionate systems and controls to appropriately manage the risk of financial crime within a business.
Financial Crime and Sanctions Essay
A SAR may provide a plaintiff with an invaluable roadmap to potential claims against a bank . Or, its customers and numerous other insights into facts and conduct that bank management normally considers confidential.” A Lakatos and M Hanchet, ‘Confidentiality of Suspicious Activity Reports’ (2007) 124(9) Banking Law Journal 794 at 795. Given their importance in detecting financial crime, what degree of transparency should the public and investors have. Also, in relation to the publication of suspicious activity reports and why?
Detailed Instructions
|
Do you need Assignment help from intel-writers.us?
intel-writers.us is one of the best essay help websites on the internet
Kindly click the link below to order quality essays from qualified assignment help experts
We offer well written, referenced and plagiarism free papers .