A money laundering compliance manual is a set of anti money laundering (AML) policies and controls that make up a businesses AML compliance framework. At a minimum, it should consist of an AML policy, business wide risk assessment, suspicious activity reporting procedures and an anti-bribery & corruption policy (ABC). However, if you’ve glanced at or […]
Are you wondering if you will need to register with HMRC for money laundering supervision? This quick guide will tell you all you need to know and provide you with some links to useful information. AML Supervisors If you are a business or individual who has obligations under the Money Laundering Regulations (MLR), you will […]
Compliance with the MLR and HMRC Those in the accountancy sector are required to comply with the Money Laundering Regulations (MLR) in the UK. With this in mind, business types such as accountants, tax advisers, bookkeepers and insolvency practitioners all have AML obligations. Having an effective and compliant Anti Money Laundering Policy template can save […]
Are you looking for an Anti Money Laundering Policy Template for small business? If so, you have come to the right place! We know there are countless AML policy templates out there on the internet, making it really difficult to know which one to choose. We certainly won’t tell you that we are the only […]
FCA Consultant or FCA Template Provider? An FCA compliance consultant is an individual who can help a financial services regulated firm gain or maintain authorisation. The FCA’s authorisation application process can be rigorous and complex, so having a consultant to work with can be useful. However, it can also be very expensive and is often […]
A fraud prevention and detection policy is an internal document used by businesses to record their obligations, objectives and controls for identifying and preventing fraud within the company. For best practice, the Anti-Fraud Policy should co-exist alongside your anti-bribery and corruption and anti-money laundering framework. The Fraud Act 2006 The Fraud Act 2006 (‘Act’) separates […]
The CASS 10 Resolution Pack…if you know, you know! The Client Assets Sourcebook (CASS) is not one of those things you come across randomly. If you are searching the internet for information on CASS, chances are you are or will be dealing with client assets and/or money within the financial services industry. The Financial Conduct […]
Are you are currently going through an Financial Conduct Authority (FCA) authorisation application or considering starting a business that will be regulated by the FCA? If yes, this article will provide you with some guidance and insight into the process and steps. What is FCA Authorisation? If you or your business are considering carrying on […]
AML Reform Summary For the past 2 years, the Government has been consulting on proposed reforms to the UK’s anti-money laundering (AML) and counter-terrorism financing (CTF) supervision regime. The Government has now published its decisions of the responses, outcomes and reforms for the future of AML oversight. New AML Supervision Regime The Government put forward […]
Section 19(1) of The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLR) references AML policies and controls. It defines what measures and procedures a ‘relevant person’ must have in place to comply with the Regulations. What are the MLR Policies and Controls? Section 19(1)(a) requires those with MLR […]