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For Cybercrime Investigators, AML Fines Can Come with Strings: London Official
By Brian Orsak
printSteep fines against banks that fail to prevent money laundering are complicating efforts by investigators to suss out cybercrime, a top London police official said Wednesday. In a speech outlining the challenges of discovering and prosecuting online crooks, City of London Police Commissioner Adrian Leppard said that regulatory pressure has incentivized U.K. banks to keep mum about potentially incriminating lapses and, in some cases, disclose data that is of little use to investigators. "The fines that are coming in through money laundering regulation are very effective," said Leppard, at a cybercrime symposium hosted by the Federal Reserve Board in New...
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