AML for Accountants - A Compliance Toolkit

Introduction

‘Accountants are key gatekeepers for the financial system facilitating vital transactions that underpin the UK economy’ - CCAB AML guidance, March 2018.

All accountants, including tax advisors and insolvency practitioners, need to comply with their obligations under the Money Laundering Regulations 2017 helping to prevent, recognise and report any money laundering suspicions.

As the regulations have been in force since June 2017, all firms should now have everything in place to cover the key areas of change including who is in charge of supervision, policies, controls and procedures, risk assessments at all levels undertaken, all CDD measures in place including enhanced due diligence and PEPs and the checking of the HM Treasury sanctions list. They should also be up to date with the amendments made under the 5th Money Laundering Directive (5MLD) in January 2020 and the updated draft guidelines issued by the CCAB in September 2020.

Using the guidelines from the CCAB, this live broadcast session is full of practical tips, advice and case studies helping you to have everything in place for compliance.

What You Will Learn

This interactive online session will cover many areas including:

• An overview of what is AML/CTF
• The relevant legislation including the Proceeds of Crime Act, Bribery Act, Criminal Finance Act
• The regulators and their guidance
• The Money Laundering Regulations 2017 including the 5MLD update:
• Risk assessments
• Policies, controls and procedures
• Due diligence including ongoing CDD and enhanced CDD
• Capturing client information
• Identifying the source of funds and the course of wealth
• What is a PEP?
• Who are the beneficial owners?
• Record keeping
• Data protection
• The sanctions regime and how it works
• Transparency International and the risks with overseas clients
• Training - how up to date are your staff?
• The role and responsibilities of the MLRO
• The NCA and reporting of suspicions
• The penalties for getting it wrong

Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.