World Money Laundering Report: Digest 2010 10 21

World Money Laundering Report Digest : 21 October 2010

21 October 2010

The UK Government has published its proposals for a bank tax.

The law will apply to almost all banks operating in the UK either as a resident or as a subsidiary.

However, to decide whether the law will apply to a specific bank, there is an extremely complex section of the law.

Silkscreen Consulting, part of The Anti Money Laundering Network, has produced a decision tree to aid bankers to decide whether they will be affected.

You can download the UK Bank Levy Decision Tree free of charge from the Silkscreen Consulting website at

http://www.countermoneylaundering.com

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Reminder : expiry of Monetary Authority of Singapore Training Grant

The Anti Money Laundering Network reminds all Clients with staff in Singapore who are subject to the supervision of the Monetary Authority of Singapore that the current training subsidy / grant of up to 70% of the cost of training expires at the end of December 2010.

Currently, no announcement has been made as to the continuation of the scheme.

Full details of the scheme are available from MAS.

Note: in order to qualify for the subsidy users must be based in Singapore and must complete their training prior to 31 December 2010.

Therefore Clients are advised to ensure that any new users added to the Quick To Learn More training platform complete are added as soon as possible and that all users are monitored to ensure that their training is completed prior to 31 December.

www.quicktolearnmore.com

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Reminder: Advanced Financial Crime - Risk Management and Compliance

Five day residential retreat - Krabi Thailand

For senior staff, Clients are reminded that The Financial Crime Forum hosts "Advance Financial Crime Risk Management and Compliance" in Krabi, Thailand, in November 2010. We are informed that the cost of training and accommodation for this residential retreat may be eligible for the training subsidy.

Clients of Quick To Learn More and members of The Society of Anti Money Laundering Professionals (before MAS subsidy) making this advanced course exceptional value for money.

The course is structured in such a way as to facilitate staff being able to spend at least a part of the day in contact with their office.

See www.financialcrimeforum.com

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