In this issue, we summarise the resources issued in response to UK sanctions against Russia, highlight the implications of the Economic Crime Act and look at the risks associated with virtual assets in the seventh instalment of AML: The Basics.
Anti-money laundering - the essentials
Anti-money laundering - the essentials is a newsletter produced by ICAEW's professional standards team to help you keep up-to-date on the key changes in the money laundering regime and help inform your risk assessment, policies and procedures. We email ICAEW money laundering reporting officers when a new issue of Anti-money laundering – the essentials is available. Anti-money laundering – the essentials' is also available to all ICAEW members – please select the anti-money laundering topic from your list of preferences and we will notify you by email when a new issue is available.
AML the essentials, issue 23 contains useful information on HMRC Agent accounts, the SARs online portal and Government’s Annual Report on AML supervision.
AML the essentials, issue 22 contains new government consultations, guidance on engaging in financial activity in Afghanistan, new SARs resources and an inside look at the roles of experienced Money Laundering Reporting Officers (MLROs).
AML the essentials, issue 21 contains an invitation to our next live webinar, guidance on court orders (in conjunction with the Metropolitan Police) and an update on improvements to the SARs online portal.
AML the essentials, issue 20 contains guidance on how to submit good quality SARs, red flag indicators shared by the Metropolitan Police and an invitation to attend an upcoming SARs webinar (which is being jointly hosted by the National Crime Agency). We have also summarised ICAEW guidance issued so far in 2021.
This issue contains information on changes to sanctions list and legistaltion following the end of the transition period, as well as Suspicious Activity Reporting resources and money laundering risk alerts from the National Crime Agency.
AML the essentials, issue 18 contains updated CCAB guidance and explanatory notes, a reminder on furlough fraud, and clarification on reporting discrepancies on the People of Significant Control register.
AML the essentials, issue 17 contains our summary of the National Crime Agency’s assessment of serious organised crime and the key factors accountants should be aware of. The issue also contains advice on what to do if you suspect your client of COVID-19 fraud and our 2020 AML monitoring report, particularly useful if you have an upcoming monitoring review.
Issue 16 of our Anti-Money Laundering update includes a Guide to client due diligence during the Coronavirus outbreak, a new Source of wealth factsheet and a reminder of the recent changes to the Money Laundering and Terrorist Financing Regulations.
Issue 15 of our Anti-Money Laundering update includes an update on the Fifth Money Laundering directive and two new pieces of supplementary anti-money laundering guidance from CCAB.