Anti-Money Laundering - Further Information
It is vitally important that your firm complies with the requirements of the anti-money laundering legislation contained in the Proceeds of Crime Act 2002, the Terrorism Act 2000 and the Money Laundering Regulations 2007.
These regulations place a heavy and compulsory burden on law firms and others in the Regulated Sector. The implications are serious if the regulations are not complied with.
ML Solutions 4U provides advice, training and online solutions to help you meet the onerous anti-money laundering obligations.
Planning your firm's compliance with the Regulations includes:
- Establishing basic money laundering guidelines;
- Appointing an MLRO and deputy;
- Constructing a readily understandable reporting system and ensuring all relevant staff are aware of it;
- Setting up a money laundering training plan for partners and staff including on-going training; and
- Setting up Customer Due Diligence identification and record- keeping procedures.
To assist with this planning, additional resources and articles are given below:
Money Laundering Information » Money Laundering Information
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