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The news headlines scream about attacks on UK banks by the USA's law enforcement agencies and regulators enforcing the USA's sanctions policies. But while the focus of attention has been on Standard Chartered, HSBC and others, there is a much bigger pool of targets. Any business that has any form of footprint in the USA, or which transacts in US dollars, faces risks that are similar to those so heavily publicised in relation to banks. Nigel Morris-Cotterill, Head, The Anti Money Laundering Network, explains how this affects businesses all over the world.


Five foreign subsidiaries of Thermon Manufacturing Company, a San Marcos, Texas-based firm, have agreed to pay a total of USD176,000 in combined civil penalties.

CoNet Section: 

This list applies to all financial services businesses operating in the UK and their overseas branches and subsidiaries.

Anyone identifying these persons should act in accordance with their reporting and other obligations.

Australia: Reserve Bank of Australia (updated 9 November 2001)

If this list returns a positive match, contact your regulator and seek guidance. The information in the list is current as at 3 October 2001. Although this list is produced by The Reserve Bank of Australia, it has international application.