AML Manual

Description

We are delighted to announce this new product to assist small and medium-sized practices to comply with their various responsibilities in respect of anti-money laundering (AML) compliance. This manual is being published with relevant persons in mind, ie for firms and individuals who are accountants, tax advisers insolvency practitioners and/or trust or company service providers.

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What will the manual contain?

The Manual provides some background to explain what money laundering is and the importance of AML compliance, along with details of the Money Laundering Regulations (MLRs) and relevant proforma documentation. This standard documentation is highly relevant to most accountancy practices, and will assist you in complying with the MLRs and the requirements of your AML supervisor. The documentation is available in Word format to allow you to easily tailor it to your practice’s unique circumstances.

In the VS Consultancy AML Compliance Manual, you will find sections covering:

• AML compliance in the UK, including the importance of robust AML standards, supervision and oversight,
• the specific requirements of the MLRs (as amended in January 2020) and other legislation,
• how your practice is supervised,
• proforma policies, controls and procedures (helping you to achieve and demonstrate effective compliance), and
• standard checklists, and other forms, focusing on the important areas of:
  • practice-wide procedures
  • employees (including beneficial owners, officers and managers)
  • the practice’s clients (including risk assessment and customer due diligence), and
  • how to deal with those transactions and situations that requiring specific action.

There is also a comprehensive glossary of words and terms used throughout the Manual, making is easy to use by all relevant employees. In fact, we recommend using the manual as a training tool and as an important element of a new employee’s induction.