Money Laundering Regulation Changes Post Brexit

With amendment upon amendment of some on the UK’s legislation recently, it is easy to understand why some organisations are confused about which verison of the regulations they should be following. A classic example is the The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLR17) which implemented the […]

Anti Money Laundering Policy Template

We have designed 3 main anti-money laundering template packs for firms with differing needs and scopes. Starting with our standard Anti-Money Laundering Policy, which includes extensive content for HMRC, FCA and other supervisory body compliance. The pack also includes a detailed AML risk assessment template. Our complete AML toolkit is our bestselling AML package and […]

Money Laundering Risks & Effective AML Controls

  The FATF encourage the full use of a risk-based approach to customer due diligence which is essential in knowing who businesses are working with and on behalf of. Extensive and robust due diligence controls are one of the key measures in identifying money laundering risks and should form a large part of any AML […]

Due Diligence Policy & Questionnaires

Carrying out effective and compliant due diligence is not just for businesses with obligations under the Money Laundering Regulations 2017 or for those authorised or supervised by the FCA or HMRC. Most firms will be required to complete due diligence on suppliers, customers and/or employees to meet business and sometimes legal obligations. It is essential […]

FCA Compliance Manual

With more and more firms setting up under FCA regulation, Know Your Compliance Limited offer the most comprehensive FCA Compliance Manual on the market, already used by thousands of organisations in a vast array of regulated sectors, we understand how to write policies, procedures and templates that can be fully customised and save hours of […]

Due Diligence Policy & Questionnaire Templates

Most businesses are required to carry out some form of due diligence in meeting their regulatory, contractual or legal obligations and to mitigate the risks associated with standard business relationships such as working with suppliers, customers, employees and other third parties. Carrying out effective and adequate due diligence also helps to protect an organisations’ customers […]

£37,805,400 FCA Fine for AML Failures

Last month, the Financial Conduct Authority (FCA) handed out a £37,805,400 fine to the London branch of Commerzbank AG for significant failings related to anti-money laundering controls and measures. This costly fine included a 30% discount, as the firm offered to settle at an early stage of the investigation. The full fine without an early […]

Anti Money Laundering (AML) Policy Template

Anti-money laundering is a general term that refers to legislation, regulations, requirements and rules on preventing terrorist financing, money laundering and criminal activities relating to money and transactions. Firms with obligations under these rules (i.e. the Money Laundering Regulations (MLR17) in the UK), are expected to put controls, tools and policies into place to identify […]

Anti Money Laundering Regulations

If you have obligations under The Money Laundering Regulations 2017 (MLR17), you will need to have compliant policies, measures and processes in place to meet those obligations. Whether your Supervisory Authority is the FCA, HMRC or Gambling Commission, many of the requirements set by these bodies come from the MLR17 and require firms to have […]