Starfish Accounting Ltd’s Post

Equip yourself with the latest AML strategies by reading "Anti-Money Laundering in a Nutshell" by Kevin Sullivan. Essential for anyone in finance or law enforcement. Find it here: Sullivan’s background ensures a comprehensive guide, making complex topics accessible. Positive reviews highlight its practicality and readability. #ad #AML #Finance #Compliance #FinancialCrime

FCA WARNS FIRMS ON COMMON FAILINGS THEY'VE FOUND IN FINANCIAL CRIME CONTROLS. The FCA wrote to CEOs on 5 March 2024 outlining the common Anti-Money Laundering (AML) control failings they have observed in Annex 1 firms and setting out the actions they require you to take. #financialcrime #financialservices #antimoneylaundering #antibribery #duediligence #sanctionscompliance #riskassessment #aml #fraudprevention #fraudmanagement #riskmanagement #payments #cards ##internalcontrols

FCA WARNS FIRMS ON COMMON FAILINGS THEY'VE FOUND IN FINANCIAL CRIME CONTROLS. The FCA wrote to CEOs on 5 March 2024 outlining the common Anti-Money Laundering (AML) control failings they have observed in Annex 1 firms and setting out the actions they require you to take. #financialcrime #financialservices #antimoneylaundering #antibribery #duediligence #sanctionscompliance #riskassessment #aml #fraudprevention #fraudmanagement #riskmanagement #payments #cards ##internalcontrols

Law firm that couldn't find historical AML documents fined £12k by SRA. The firm was able to show a fully compliant document when the SRA sent in inspectors in September 2023, but could not locate previous versions. The same applied for the required policies, controls and procedures document designed to manage the risks of money laundering, which were again in place last year but could not be evidenced for previous years. https://lnkd.in/efDxyUS6

AML breaches are hitting the headlines again. Fines and disciplinary action from the regulator are painful, but prevention doesn't have to be. All of our risk and compliance training meets the requirements of the regulators, but simply ticking the box will never be enough - that's why our training is also memorable and engaging and will keep your firm, and all your employees, safe. Drop us a line today for a free 30-minute demo: Hello@TheProfessionalAlternative.com #AML #RiskandCompliance #Learning https://lnkd.in/ef3hfauF

Interesting that Propertymark are having an #AML awareness drive for #estateagents Hopefully this will reinforce to those estate agents who need reminding why #conveyancers have to do AML checks at the beginning of a #conveyancing transaction We don't do it for fun. It is a regulatory requirement that carries criminal penalties for non-compliance #realestate #licensedconveyancers #solicitors #property #propertymarket https://lnkd.in/ehwtvFTZ

Strengthen your skills in AML compliance with "Anti-Money Laundering in a Nutshell." This book has been an excellent resource for my work in financial investigations and compliance. Check it out here: #AML #Compliance #FinancialCrime #AntiMoneyLaundering #Finance

The FCA wrote to CEOs on 5 March 2024 outlining the common Anti-Money Laundering (AML) control failings they have observed in Annex 1 firms and setting out the actions they require businesses to take. The common AML failings include: • Financial Crime teams not being adequately resourced. • A lack of regular Financial Crime training for employees. • Steps taken to identify and assess ML, TF and PF risks not being fully documented. • Customer risk assessments assigned at a customer category rather than individual level. • CDD policies and procedures lacked sufficient detail or were not kept up to date. If you NEED to bolster your Compliance/AML teams, please get in touch. lisa.paton@merakitalent.com 0141 648 9417

Firms in other areas of financial services not just law could benefit by reflecting on this firm’s apparent slow reaction to a problem that might not of existed just in a silo. Is grasping the nettle and responding key? Policies and procedures, adherence to them and monitoring that they’re being followed really matters #tcb #fsb #ib #training

🙈 Where there's money laundering, there’s often a gatekeeper turning a blind eye or greasing the hinges. 💸 Gatekeepers, such as lawyers, accountants, bankers, and real estate agents, play a critical role in facilitating money laundering by providing access to legitimate financial systems and masking illicit transactions. 🦹♂️ Criminals rely on these professionals to create shell companies, manage trust accounts, handle large cash deposits, or navigate complex regulatory loopholes—all while adding an air of legitimacy to their operations. Our new article dives into how gatekeepers are used to launder money, real life examples, an overview of the AML regulation, and lots more 👇 https://lnkd.in/epaT9Ufj #moneylaundering #aml #amlcompliance #compliance #lawyers #gatekeepers #notary #notaries #banking #finance #financialcrime