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 templates assist in the assessment, investigation and review of a service, business or individual. 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 […]
What is a Conflict of Interest? A conflict of interest is defined as an action or relationship that may impair the ability to make an objective and/or fair decision. Furthermore, this conflict can arise from the impairment of an individual employee or as a business activity. In the financial sector, such conflicts can result where […]
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 […]