A report by the Office for Professional Body Anti-Money Laundering Supervision (
The report found that 23% of professional bodies had no form of supervision at all, 18% had not identified who they needed to supervise, and over 90% had not fully developed a risk-based approach.
In a speech at the Royal United Services Institute about the report, Alison Barker, the director of specialist supervision at the Financial Conduct Authority (FCA), said: “There is a great deal to do here to ensure that we all play our part.”
The FCA launched OPBAS in January 2018.
German payment processing company Wirecard has suspended an accounting employee in Singapore until an investigation into allegations of fraudulent accounting is over, the company’s chief executive told Reuters on 12 March.
Speaking to Reuters, Chief Executive Markus Braun said that a subsequent internal investigation has found Rajah & Tann’s findings to be invalid, adding that he is confident about the outcome of the police investigation.
The Financial Times reported on 13 March that Singaporean police are probing six Wirecard units in Indonesia, Malaysia, India, Philippines and Hong Kong as well as 11 third parties.
Brazilian prosecutors have postponed opening a charity intended to receive part of the $853.2 million settlement that the country’s state-controlled oil company Petrobras agreed with Brazilian and US prosecutors in September 2018.
Brazil’s Federal Prosecution Service (MPF) said in an emailed statement on 12 March that it will consult with other Brazilian agencies on how to create the charity.
An MPF prosecutor told GIR that if they fail to reach consensus the $682,560,000 part of the settlement, which was allocated to social and educational programmes to promote citizenship and integrity in Brazil’s public sector, may revert to the US.
However, the prosecutor said he is confident all the parties will reach a consensus on the matter.
Weng Yee Ng and Jimmy Ko
Matthew Getz , Neil Pigott and David Bufton
David W Ogden, Ronald C Machen, Stephen A Jonas and Ericka Aiken
Günter Degitz and Rich Kando
Thomas Werlen and Jonas Hertner
Quinn Emanuel Urquhart & Sullivan (Schweiz) GmbH
Sue Prevezer QC and James McSweeney
Quinn Emanuel Urquhart & Sullivan LLP