The Money Laundering Regulations 2007 came into force in the UK on 15 December 2007; raising additional challenges for the regulated sector, including accountants. In response to the Money Laundering Regulations, AMLCC have developed an anti-money laundering product which assists accountants in their compliance.
"Accountancy firms supervised by AIA under the Money Laundering Regulations must have robust policies and procedures in place, appropriate to the individual firm's needs, to ensure anti-money laundering compliance and AIA is pleased to offer access to AMLCC free of charge to AIA Members in Practice."
The AMLCC product provides firms with the essential tools needed to assess their clients through online reporting and record keeping as well as train their staff, this in turn gives reassurance to the AIA that AIA registered firms are meeting their statutory obligations and incorporating best practice into their work.
The AMLCC product offers the following services to enable firms to overcome the challenges of anti money-laundering compliance:
- An online compliance manual which includes a policy statement which must be tailored according to the individual firms' requirements.
- Online training modules
- Online risk assessment wizards
- Online compliant Client Verification system
- Secure online records storage
- Online reporting function
- Monthly Compliance Matters email, keeping you up to date with relevant articles and news on money laundering issues.
AIA will issue you with a discount code along with your practising certificate, which can be redeemed when ordering or renewing the AMLCC product. Existing subscribers to AMLCC should retain the discount code and redeem it when renewing their AMLCC subscription.
To subscribe to AMLCC click here.
If you need any assistance, please contact the Practice Liaison team.