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Anti-money laundering

Guidance and other work that we have done on anti-money laundering law and practice, in the UK and internationally.

 

In this section

ICAEW Firm-wide risk assessment methodology

The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLR17) require firms to take the appropriate steps to identify and assess the risk that they could be used for money laundering, including terrorist financing.

Supplementary Anti Money Laundering Guidance for the Tax Practitioner Exposure Draft

This supplementary guidance has been developed by the Chartered Institute of Taxation, the Association of Taxation Technicians, the Association of Chartered Certified Accountants, the Institute of Chartered Accountants in England and Wales, the Chartered Institute of Management Accountants and HMRC for professionals providing tax services.

Risk assessment and customer due diligence

Guidance on crypto assets

This guidance gives an introduction to crypto-assets for accountants, and how members may encounter clients with these assets. The guidance then outlines the Money Laundering risks that could be associated with clients who hold crypto-assets, and the issues that members will need to consider in their risk assessments.

FCA guidance on PEPs

The FCA published guidance on how firms should apply the definitions of a PEP in MLR17 in the UK.

Has your practice carried out a firm wide risk assessment?

The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLR17) require firms providing accountancy, trust or company services to take appropriate steps to identify and assess the risk that they could be used for money laundering, including terrorist financing.

Reporting

TAXtalk April 2019

The April 2019 edition of TAXTalk focuses on the new off payroll worker rules for the private sector, the latest consultations from government and an update on money laundering and suspicious activity reports.

Anti-money laundering - the essentials

Issue 12 - March 2019

This issue of AML – the essentials covers new Suspicious Activity Reporting resources, the legal status of cannabis and the Government’s new economic crime task force.

Issue 11 - November 2018

The eleventh issue of 'Anti-money laundering - the essentials' covers OPBAS, whistleblowing and anti-money laundering news such as the launch of the National Economic Crime Centre.

Issue 10 - September 2018

The tenth issue of 'Anti-money laundering - the essentials' covers: HMRC’s TCSP register, criminal record checks, the Fifth Anti-money laundering directive and contains useful resources from the FCA and NCA.

Criminal record checks

Issue 10 - September 2018

The tenth issue of 'Anti-money laundering - the essentials' covers: HMRC’s TCSP register, criminal record checks, the Fifth Anti-money laundering directive and contains useful resources from the FCA and NCA.

Registration and supervision

Whistleblowing

If you come across an accountancy firm or trust and company service provider, that is supervised by ICAEW and appears to be ignoring the regulations, you can report it confidentiality to us.

Background and representations

ICAEW Rep 117/18

Anti-Money laundering: The SARs Regime