Anti-money laundering (AML) thematic reviews are an important part of our work as an anti-money laundering supervisor. They enable us to gain a more in-depth understanding of compliance, risks and inadvertent exposure to money laundering in the firms supervised by ICAEW.
They provide us with information and guidance that we share with our firms to utilise. We encourage firms to benchmark their processes against those identified as best practice in the thematic reviews, and to make changes where necessary.
And, most importantly they provide guidance and information on ways firms can mitigate the risks of inadvertently becoming professional enablers of anti-money laundering.
Read the thematic reviews and access the guidance and resources
AML Thematic Review: the role of the Money Laundering Reporting Officer
In this thematic review we sought to understand who the money laundering reporting officer (MLRO) is and how they fulfil their responsibilities. We asked about the challenges they face, training, suspicious activity reporting, compliance monitoring and emerging risks within their client base. This review brings together these findings, provides insight and guidance from our perspective as an anti-money laundering supervisor and includes resources MLROs may find helpful.
COVID support schemes thematic review
ICAEW firms are playing a key role in identifying and dealing with COVID fraud. Our survey shows how firms are encouraging clients to pay back ineligible claims, and supporting law enforcement by reporting fraudulent activities. Find out how accountancy firms are helping to detect COVID fraud.
Trust and Company Services: AML thematic review
Identify the money laundering risks that can be linked to offering trust and company services (TCSPs) and access practical guidance on how to mitigate these risks.
Would your staff recognise the red flags? Use this review to ensure your firm has the ability, competence and resources to identify and report suspicious activity promptly.