One of the most asked questions we get via email is “Do you sell money laundering risk assessment documents?” If you are a firm or sole trader who has obligations under the Money Laundering Regulations (MLR), then you are going to need to have such ‘documents’ in place. Financial Crime Risk Assessments Financial crime encompasses […]
Free Template for MLRO Report The Financial Conduct Authority (FCA) have reporting rules and requirements set out in the ‘Senior Management Arrangements, Systems and Controls (SYSC)’ section of their handbook. This free template is aimed specifically at those relating to financial crime and anti-money laundering. The Money Laundering Reporting Officer (MLRO) under the FCA is […]
Where a business has obligations under the Money Laundering Regulations (MLR), they must use a risk-based approach to identify, assess and prevent money laundering. Carrying out an AML Risk Assessment involves several steps, which can include (but are not limited to): –
– Identifying the money laundering risks relevant to your business.
– Completing a company-wide risk assessment which includes areas such as delivery channels, transactions, products/services, customer behaviour etc.
– Assessing the risks associated with your customers.
Anti money laundering policy templates will save you time and money. Understanding and complying with the Money Laundering Regulations (MLR) is a complex and time consuming facet of running a business. Many sectors and industries have obligations under the and are supervised by approved governing bodies. The main Supervisory Authorities for money laundering are HMRC […]
We supply the UK’s leading FCA Compliance Manual to firms looking to gain or maintain their FCA authorisation application. Updated each year and cover all the mandatory policies, procedures and controls for compliance with the FCA Handbook. The contents of the manual are worth more than £2,500! However, you can get exclusive access to the […]
What is a Privacy Notice? A privacy notice as a document, form, webpage or pop-up that is provided to individuals at the point their personal information is collected. Where data is obtained indirectly, the notice is provided at the earliest opportunity. A business is obligated to provide a privacy notice to all individuals when their […]
High-Risk Countries Regulations The Money Laundering and Terrorist Financing (High-Risk Countries) (Amendment) Regulations 2024 came into force on 24th January 2024. It makes alterations to Regulation 33(3)(a) of The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLR). Prior to this date, countries posing a higher risk of money […]
New to FCA authorisation? Just completing your FCA application? Whether you are trying to become authorised by the FCA or you are reviewing your existing FCA compliance framework, our exclusive FCA Application Policy Toolkit is for you. When you read through the FCA guidance notes that accompany the FCA authorisation application, you will see the […]
Having adequate, effective and compliant policies, procedures and training workshops on what makes a customer vulnerable, how to identify them and how to communicate effectively is not only a mandatory FCA requirement, but also an essential business practice. It is even more important in times of national crisis, such as the current pandemic, to ensure […]
HSBC Fined £6,280,100 The importance of having effective policies and procedures in place for treating customers fairly and managing those in arrears cannot be overstated. HSBC UK Bank plc and Marks and Spencer Financial Services plc (“HSBC”) are the latest firm penalised for failing to treat customers in arrears or with financial difficulties fairly. Last […]