CCAB Russia sanctions guidance
The Consultative Committee of Accountancy Bodies has issued joint guidance for the profession on the situation in Ukraine.
New AMLbites video: Sanctions
Sanctions risk – changes in client behaviours
New SARs Glossary Code
The NCA has issued a new SAR glossary code for reporters to use to identify SARs relating to sanctions.
How to check your client base
Reputational risk – Russian sanctions
ICAEW members are urged to be hypervigilant of any connections with Russia among their clients and perform careful due diligence in the light of Russian sanctions.
Watch OFSI’s recent webinar briefing on UK sanctions relating to Russia
A recording of the event has now been published on gov.uk on can be accessed. We strongly encourage you to watch this webinar to understand how sanctions may affect you and your clients.
OFSI licence guidance
When a person or organisation is subject to an asset freeze, any funds or economic resources belonging to them, must be frozen. You must not deal with these assets, or make them available to, or for the benefit of, a designated person unless there is an exception in the legislation you can rely on, or you have a valid licence.
Companies House reform white paper published
A legal overhaul of the register will bolster the powers of Companies House so that it can better tackle crime and fraud and provide a stronger foundation for boosting enterprise.
EDD requirements: Update to high risk third countries list – UAE now included
The amended list came into force on 29 March 2022. Enhanced due diligence (EDD) is required for all business relationships and transactions with a person, or entity, established in a high risk third country.
Economic Crime Act
ICAEW AML-supervised firms should assess the risk that their firm may be used to facilitate money laundering, and update their firm-wide risk assessments and mitigating actions accordingly.
AML: How money launderers use virtual assets
In the seventh instalment of Anti-Money Laundering: The Basics, IFAC and ICAEW look at the risks associated with virtual assets
COVID-support fraud: staying vigilant on the frontline
Fraudsters have been targeting COVID-19 business support schemes since their inception. For firms preparing end of year accounts, staying alert to COVID-related fraud is more important than ever.
Guidance on CDD required for law firms
This guidance is designed to supplement the requirements within the CCAB AML Guidance for the Accountancy Sector.
Anti-money laundering helpline
ICAEW members can phone anonymously if they wish to speak to an adviser about suspected illegal activity or any matter that may trigger a need to submit a suspicious activity report.
Disciplinary update: March 2022
Read about recent cases where we have taken disciplinary action against ICAEW member firms and ICAEW members for AML matters.