There is a wide range of useful resources available for our AML supervised firms.
AML - the essentials
Keep up-to-date on the key changes in the money laundering regime and receive guidance that will help inform your risk assessment, policies and procedures.
All Too Familiar - ICAEW’s third training film
It explores the degree of trust still placed in personal and professional relationships and whether trust is enough in the fight against economic crime. It aims to challenge mindsets and provoke discussion on the need for greater professional scepticism when faced with potential money laundering risks. The UK offices of ICAEW supervised firms and insolvency practitioners have been sent a link to stream the film and the learning materials (email sent 9 March 2022). The email was sent to MLROs / MLCPs, insolvency practitioners and the ICAEW regulatory point of contact i.e PA or audit principal. Please speak to your firm contact for access to the film.
Providing you with the basics on popular money laundering topics. Each video lasts around 10 minutes and is freely available for all to view. These videos are aimed at money laundering reporting officers, compliance principals and people in regulatory roles. These could also be used as a training tool for your staff.
How to verify your client webinar
The team use case studies to demonstrate the stages of client verification and how these should link to your AML risk assessment.
Money laundering risk assessments
Our panel of speakers including MLROs, AML professionals and the ICAEW supervisory team, discussed how to perform a money laundering risk assessment and when to revisit it in this live webinar.
Customer Due Diligence
Learn about the key elements of CDD, what your obligations are and listen to a case study discussion in this webinar recording.
- DAMLs and Tipping Off
Find out when to submit a Defence Against Money Laundering and what constitutes Tipping Off.
- Suspicious Activity Reports and the accountancy sector
ICAEW's anti-money laundering supervision team were joined by the National Crime Agency and other AML professionals for this live webinar event. The webinar discussed money laundering risks, SARs and the law, SARs and the role of the MLRO. It also featured case studies and a live Q&A.
- Suspicious Activity Reports and the accountancy sector Q&A discussion
Following on from the Suspicious Activity Reporting webinar, Michelle Giddings, ICAEW Professional Standards' Head of AML, and Angela Foyle, Partner at BDO and Chair of the AML Committee of Accountancy Europe discussed some of the questions raised during the event.
- Russian Export Sanctions Prohibitions (US and EU)
- Ukraine: Guidance on OFSI licences
- Ukraine crisis: central resource hub Ukraine crisis
- Changes to UK sanctions in response to development in Ukraine - FAQs
- National risk assessment (NRA) of money laundering and terrorist financing 2020
- Emerging money laundering risks
- Suspicious Activity Reports – Thematic Review, guidance and information
- Trust and company service providers – Thematic Review, guidance and information
- DAML guidance for IPs
- Back to the office: seize the opportunity to refresh your AML culture
The return to office-based working offers the ideal opportunity for MLROs to reflect on changes to the risk landscape over the past 18 months, check their firms’ AML policies and procedures remain fit for purpose, and refresh staff training.
- SARs reporting: emerging threats
In the rapidly changing landscape of economic crime, new risks are emerging all the time. In the second part of our interview with Martin Cox of the UK Financial Intelligence Unit (UKFIU), we talk about COVID-19, Fintech, cryptoassets and human trafficking.
- The MLRO in practice: uncovering economic crime
Being a money laundering reporting officer (MLRO) is about much more than meeting regulatory requirements. We talk to some experienced MLROs and their deputies about what it takes to succeed in the role, how they make a difference, and being brave.
- The role of the MLRO: beyond compliance
Taking on the role of money laundering reporting officer can be daunting, and it isn’t always clear what’s required of you. We talk to ICAEW’s anti-money laundering supervisory team about the legislative background to the role, the importance of an open culture, and the sometimes unexpected skills you’ll need to do the job effectively.
- SARs: making a difference
Submitting a suspicious activity report (SAR) is much more than a routine compliance obligation. We talk to Martin Cox, Head of Engagement, Communications and Risk Management, UK Financial Intelligence Unit (UKFIU), about the critical role ICAEW firms and members play in piecing together information that can protect vulnerable people and bring criminals to justice.
- Follow the money: How to combat money laundering
Firms need to be alert to the constantly shifting threat of money laundering, says Caroline Biebuyck.
- Take professional scepticism to the next level, Met Police forensic accountant urges
Joanna Bliault, a forensic accountant at the Metropolitan Police, urges accountants to take their professional scepticism to the next level and act on the most common red flags she has encountered in the line of duty.
- Understanding money laundering risks
A shared understanding between law enforcement, supervisory bodies and firms of money laundering and terrorist financing risks is crucial to ensuring firms recognise when they are at risk of being used to facilitate money laundering.
- ICAEW takes the chair at the AML Supervisors Forum
ICAEW continues to be at the forefront of Anti Money Laundering (AML) supervision and now, throughout 2021, ICAEW’s Michelle Giddings, Head of AML, has been elected as Chair of the AML Supervisors Forum, set up by HM Treasury under the 2007 Money Laundering Regulations.
- How we cracked down on money laundering from home
Michelle Giddings, chair of the 2021 AML Supervisors Forum, outlines the measures ICAEW has taken to tackle anti-money laundering compliance during lockdown
- 2021 AML supervision report
Find out how ICAEW discharges its obligations as a supervisory authority under MLR17.