Why would you need an Anti-Money Laundering Policy Toolkit? For many UK organisations, registering with an anti-money laundering scheme is mandatory. Those with oversight for money laundering prevention are referred to as a Supervisory Authority. Examples of such authorities include the FCA, HMRC and the Gambling Commission. It is mandatory for those with AML obligations […]
Due diligence is the assessment, investigation and review of a product, service, business, individual or third-party. It involves validating those with whom organisations form a working relationship in order to ensure that they are verified and suitable. Due diligence is one of the foundations of any business and is mandatory in many regulated sectors. In […]
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 […]
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 […]
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 […]
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 […]
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 […]