The wife of a foreign banker jailed for fraud and embezzlement faces the prospect of having two residences worth a combined £22 million seized after the High Court in London threw out her challenge to the United Kingdom's first unexplained wealth order, or UWO.
British officials, a financial sector advocacy group and 10 banks will join an anti-money laundering pilot program over the next 12 months, the U.K. Home Office said Wednesday.
A High Court ruling to allow a NatWest client to review suspicious activity reports filed on him by the U.K. lender may compel compliance officers to reconsider how they disclose potentially illicit transactions to the government, sources told ACAMS moneylaundering.com.