The CCAB has published updated guidance for the January 2020 amendments of the Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017. This guidance has not yet been approved by HM Treasury.
HM Treasury has revised MLR17 to take account of the changes required by 5MLD. The new legislation is effective from 10 January 2020.
The legal and accountancy sector are working with HM Government to support the Flag It Up campaign, a joint initiative that aims to raise awareness about the warning signs of money laundering.
AML checklist issued 8 March 2018.
Handpicked resources on anti-money laundering, including client screening services.
Money laundering regulations
The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (the Money Laundering Regulations 2017) came into force on 26 June 2017. This legislation built on the 2007 regulations, although there are some specific, and potentially significant, changes that you need to be aware of and factor into your policies and procedures.
AML checklist issued 8 March 2018.
Guidance on when you need to establish a client’s source of wealth, and how to do so.
Webinar on the risk to firms and businesses of failing to apply money laundering regulations.
This guidance has been prepared to alert members to their potential position under the Money Laundering , Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (“MLR 2017”) and the Proceeds of Crime Act 2002 (“POCA”) in relation to clients who have invested in Cannabis in jurisdictions where it has been legalised for medicinal and/or recreational use.
What are the obligations to report discrepancies in the People with Significant Control register?
Anti-money laundering guidance for Insolvency Practitioners – Draft pending HM Treasury approval
Guidance for those providing audit, accountancy, tax advisory, insolvency or related services in the United Kingdom (including such firms providing trust or company services) on the prevention of money laundering and the countering of terrorist financing.
Guidance for those providing tax services in the United Kingdom, on the prevention of money laundering and the countering of terrorist financing.
An article from the CCAB Economic Crime Panel on phishing and insider fraud.
Guidance on reporting to the National Crime Agency
The UK Financial Intelligence Unit (UKFIU) has published new Glossary codes and reporting routes.
The National Crime Agency (NCA) have expressed their appreciation for the Suspicious Activity Reports (SARs) that accountants provide. By ‘mining’ the database of Suspicious Activity Reports (SARs) and investigating similarities, trends and patterns, Law Enforcement have been able to uncover and prosecute organised criminal activity.
Key elements of a Suspicious Activity Report.
Sanctions are used for a number of purposes, including pressurising a particular country or regime to change their behaviour, or to prevent terrorist financing.
Criminal finance act
Guidance on the Failure to Prevent Tax Evasion regulations.
Jennifer Haslett - Head of corporate crime and international engagement at HMRC and David Stevens - Integrity and law manager at ICAEW discuss the criminal finances bill.
Research and further support
Helpsheets prepared by ICAEW Technical Advisory Service to assist you in your day-to-day work. We offer practical advice, respond to frequently asked questions and highlight the issues you may need to consider.
Links to key sites, library links and research reports.