Articles within Anti-Money Laundering Articles
Institute of Money Laundering Prevention Officers Fourth Annual Conference
The Institute of Money Laundering Prevention Officers (IMLPO) are holding their fourth annual conference in Manchester on 14 and 15 May 2007
(Created: 07 March 2007)
Reporting in Isle of Man
The Isle of Man’s Financial Intelligence Unit (FIU), which is located within the Financial Crime Unit (FCU) of the Isle of Man Constabulary, is the centre for receiving, analysing and disseminating “suspicious transaction reports” (STR) and other relevant intelligence
(Created: 08 July 2010)
New Sanctions for Iran
Earlier this month, a notification was issued on the financial sanctions pages of the Treasury website in respect of the financial measures taken in relation to Iran, specifically United Nations Security Council Resolution 1929 (2010) adopted by the United Nations.
(Created: 28 June 2010)
The Bribery Act 2010
The Bribery Act 2010 results in major changes to UK laws for business and commerce. It has been introduced as a result of pressure to reform the law regarding bribery and corruption in the UK as the current law is ineffective and not suitable for the global economy.
(Created: 27 April 2010)
Money Laundering controls in Overseas Jurisdictions
HM Treasury has issued a notice, PN 24 about risks posed by unsatisfactory money laundering controls in a number of jurisdictions
(Created: 25 March 2010)
Should you be registered with HMRC for money laundering purposes?
A number of practitioners have informed ICAS that they have received letters from HM Revenue & Customs (HMRC) indicating that they require to be registered with it for anti-money laundering.
(Created: 19 October 2009 – Last Updated: 29 October 2009)
Unsupervised Accountants - whistleblowing
A number of practitioners have drawn our attention that there are some unqualified accountants in the market place holding themselves out, via their advertising or legends/logos, as being either regulated, registered or monitored by HMRC.
(Created: 29 October 2009 – Last Updated: 20 November 2009)
FEE Survey on the Prevention of Money Laundering and Terrorist Financing
FEE Working Group on Anti-Money Laundering has carried out a Survey on European and National Legislation and Guidance on the Prevention of Money Laundering and Terrorist Financing.
(Created: 17 September 2009 – Last Updated: 24 May 2010)
Legal Professional Privilege
New HMRC regulations published about whether documents are covered by legal professional privilege
(Created: 15 September 2009)
HM Treasury Financial Sanctions
Financial sanctions regime in the UK
(Created: 12 August 2009)
Money Laundering Registration for Estate Agents and Consumer Credit Lenders
Under the Money Laundering Regulations 2007, certain businesses are required to be supervised by the Office of Fair Trading (OFT).
(Created: 27 July 2009)
Financial Action Task Force – Jurisdictions of Concern
The Financial Action Task Force (FATF) has issued a statement reiterating its concerns over the integrity of the financial systems of certain jurisdictions
(Created: 14 July 2009)
HM Treasury Warns Businesses of Serious Threats to the International Financial System
The Financial Action Task Force (FATF) has issued a statement drawing attention to deficiencies in the following jurisdictions of concern: Uzbekistan, Iran, Pakistan, Turkmenistan and Sao Tome and Principe.
(Created: 12 March 2009 – Last Updated: 25 May 2009)
Your Anti–Money Laundering Procedures – A Quality Review Perspective
Results of Quality Review visits
(Created: 12 March 2009)
Money.Web to SAR Online Migration
SOCA has announced that the existing Money.Web reporting facility is to be terminated on 2 March 2009.
(Created: 16 February 2009)
HM Guidance on Inspections
HMRC has issued guidance for businesses required to register under the Money Laundering Regulations 2007, in the form of Code of Practice 28 (COP28)
(Created: 05 January 2009 – Last Updated: 26 January 2009)
Home Office Guidance on Consent Regime
The Home Office has issued a circular providing guidance on the operation of the Consent Regime (set out in section 335 of the Proceeds of Crime Act 2002), in order to ensure consistency of practice on the part of the law enforcement in considering requests for consent.
(Created: 23 December 2008 – Last Updated: 24 May 2010)
ID Cards for Foreign Nationals
The UK Borders Agency has announced that, from 25 November 2008, compulsory identity cards will be issued to foreign nationals and their dependents from outside the European Economic Area (EEA) and Switzerland who are given permission to extend their stay in the United Kingdom.
(Created: 23 December 2008 – Last Updated: 26 May 2010)
HM Treasury – Money Laundering Subscription Service
HM Treasury have announced the launch of a new anti-money laundering subscription e-mail service.
(Created: 21 October 2008 – Last Updated: 27 April 2009)
Financial Action Task Force – RBA Guidance for Accountants
The Financial Action Task Force (FATF) has recently issued guidance on applying the risk-based approach to combating Money Laundering and Terrorist Finance.
(Created: 06 October 2008)
CCAB Anti-Money Laundering Guidance Approved by HM Treasury
The CCAB guidance, “ Anti- Money Laundering Guidance for the Accountancy Sector” , the final version of that which was published in December 2007, has now been updated to accommodate HM Treasury comments received.
(Created: 17 September 2008 – Last Updated: 01 October 2008)
Equivalent Countries for Anti Money Laundering Procedures
A List of equivalent third countries for the purposes of the relevant parts of the third Money Laundering Directive has been agreed.
(Created: 04 September 2008 – Last Updated: 23 September 2009)
Guidance for Insolvency Practitioners
Specific money laundering guidance is available to assist insolvency practitioners.
(Created: 06 August 2008)
Revised Money Laundering Guidance for Auditors
APB issue revised Practice Note 12 on money laundering.
(Created: 12 May 2008 – Last Updated: 29 May 2008)
Revised CCAB Anti-Money Laundering Guidance for the Accountancy Sector
The final version of the Guidance which was released as an exposure draft on 12 October has now been issued. This has been updated to reflect and accommodate comments received.
(Created: 11 December 2007 – Last Updated: 19 June 2008)
HM Treasury takes over the Administration of Financial Sanctions
The HM Treasury Asset Freezing Unit has recently been launched.
(Created: 31 October 2007 – Last Updated: 19 June 2008)
Money Laundering Regulations 2007
Money Laundering Regulations 2007 were published on 25 July 2007
(Created: 26 July 2007 – Last Updated: 19 November 2008)
Launch of Anti-Money Laundering and Counter-Terrorist Finance Strategy
The Government has recently launched its strategy to combat money laundering and the financing of terrorism. The strategy sets out a series of new measures and key priorities for the future, designed to increase the use the financial system as a weapon against international crime and terrorism.
(Created: 06 March 2007 – Last Updated: 10 March 2009)
Overseas Activities: Section 102 SOCPA 2005
When the Serious Organised Crime and Police Act (SOCPA) 2005 came into force several sections, including section 102, were not introduced.
(Created: 31 August 2006 – Last Updated: 26 January 2009)
New Privilege Rules Effective from 21 February 2006
Proceeds of Crime Act 2002 and Money Laundering Regulations 2003 (Amendment) Order 2006 came into effect on 21 February 2006
(Created: 28 February 2006 – Last Updated: 09 October 2008)
Money Laundering: Recent Developments
As a result of the Serious Organised Crime and Police Act 2005 (the Act) which received Royal Assent in April 2005, the Proceeds of Crime Act 2002 (POCA) has been amended.
(Created: 02 November 2005 – Last Updated: 09 June 2008)
Adoption of Anti-Money Laundering Directive
The Council of Economic and Finance Ministers has adopted the Third Directive on the prevenion of the use of the financial system for the purposes of money laundering or terrorist financing.
(Created: 23 August 2005 – Last Updated: 09 June 2008)
SWAT Money Laundering CD ROM
Money Laundering Training CD ROM produced by SWAT is now available
(Created: 21 July 2005 – Last Updated: 19 September 2008)
Anti-Money Laundering Guidance - Large Payments
As a result of the Proceeds of Crime Act 2002 and the Money Laundering Regulations 2003, new anti-money laundering rules have been introduced for High Value Dearlers (HVD) from 1 March 2004. A HVD is one that deals in goods and accepts payment or a series of payments in cash equivalent to €15,000 (approximately £10,000) for a single transaction.
(Created: 21 April 2004 – Last Updated: 21 July 2008)
Example text for client circular
We would like to bring to your attention important new anti-money laundering legislation which affects the way in which we must operate as from 1 March 2004.
(Created: 23 February 2004 – Last Updated: 09 October 2008)
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