A local company has approached me to provide accountancy services on their behalf to clients they have. They provide consultancy services to business clients and want to charge the clients one fee per month including accounting services.
Who is responsible for the KYC/AML for the clients of the company I am outsourcing for? I have an engagement letter with the client in which I have said they are to abide with AML regulations with respect to any clients I deal with on their behalf, but is this sufficient?
Thanks for any advice.