Simon Luke

Apr 1, 2024 | corporatecomplianceinsights.com | Simon Luke

A 2021 investigation found that more than four dozen universities in the UK had accepted millions of pounds in direct cash payments from students in countries where financial crime is common; despite this, more recent research reveals that higher ed in the UK is still unequipped to handle its money laundering risk. Simon Luke of FirstAML explores the subject and what makes education a particularly choice target.

Feb 6, 2024 | corporatecomplianceinsights.com | Simon Luke

The human toll of money laundering often goes unnoticed, as headlines describe details of scams. But, as FirstAML’s Simon Luke explores, when illicit funds are used to finance terrorism, the effects are both immediate and generational. As Luke asks, will the UK’s recent reform efforts be enough? Editor’s note: This article’s author, Simon Luke, is UK country manager at FirstAML, an AML software provider.

Dec 5, 2023 | thenegotiator.co.uk | Robyn Hall |Simon Luke

First AML’s Simon Luke argues that a robust anti-money laundering regime requires all parties pulling their weight and adhering to regulations. 2 Views Many real estate firms see anti-money laundering (AML) compliance as an unnecessary cost and hassle.

Nov 15, 2023 | solicitorsjournal.com | Simon Luke

The Law Society recently offered its response on the government’s anti-money laundering consultation. It’s a timely statement, with a series of reforms on the table to improve the effectiveness of Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) supervisory bodies. From the four options under consideration, the Law Society supports consolidation of regulators into one accountancy sector supervisor and one legal sector supervisor, albeit only for England and Wales.

Sep 20, 2023 | corporatecomplianceinsights.com | Simon Luke

With a series of proposed reforms on the table to improve the effectiveness of the UK’s anti-money laundering and counter-terrorism financing regulatory structure, First AML’s Simon Luke argues it’s essential to find the right fit for the regime going forward. A 2022 review of the UK’s AML/CTF framework determined that while the overall regulatory approach was sound, the regime in place has weaknesses that need to be addressed through structural reform.