You would not give tax advice based on the tax requirements of 2003 – but is your understanding of your firm’s AML obligations 20 years out of date? There are now ten fundamental requirements for accountants, bookkeepers and tax advisers subject to the UK money laundering regulations.
What does the solo practitioner – a provider of accountancy, bookkeeping or tax services, who has no staff or subcontractors – have to do to comply with anti-money laundering requirements in the UK?
A lesser-known requirement of the Money Laundering Regulations 2017 concerns the monitoring and management of compliance with the firm’s AML policies, controls and procedures. When is the best time for a review?
What proportion of accountants in the UK fail to comply with the Money Laundering Regulations 2017 – and what are the most common failings?
20 years ago, on 1 March 2004, the Money Laundering Regulations 2003 came into force. Maybe we should celebrate the anniversary with a cake!
This article briefly highlights some key steps in the evolution of the MLR over 20 years.
Every accountant knows that you would not rely on old tax books to advise your clients. But you should not rely on old AML compliance documents either.
David Winch spoke at Accountex Manchester on 19 September 2023 on the topic of AML Compliance. This article mentions the key points from that session.
Anti-money laundering training covers red flags, warning signs that money laundering may be occurring. But does the training get this right?
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