This section details some of the laws and guidance about anti-money laundering in the UK
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. Updated October 2020
Guidance on when you need to establish a client’s source of wealth, and how to do so.
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?
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.
Anti-money laundering guidance for Insolvency Practitioners – Draft pending HM Treasury approval
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.
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.
Money laundering: the confidentiality and sensitivity of suspicious activity reports (SARs) in the context of disclosure in private civil litigation.
Information and guidance on requesting a DAML.
Sanctions are used for a number of purposes, including pressurising a particular country or regime to change their behaviour, or to prevent terrorist financing.
Sanctions are used for a number of purposes, including pressurising a particular country or regime to change their behaviour, or to prevent terrorist financing.
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.
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.