KYC / Anti money Laundering w.r.t outsourcing

Hi

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.

Comments
There are 15 comments. Login or register to view them.

Outsourcing and MLR 2007

davidwinch |
davidwinch's picture

I was in a similar position

merlyn |

To rely or not to rely

Roland195 |

Responsibility

davidwinch |
davidwinch's picture

Customer due diligence

alan.kennedy.smithkennedy |
alan.kennedy.smithkennedy's picture

I'm assuming you probably

merlyn |

Subcontracting

Roland195 |

A solution?

davidwinch |
davidwinch's picture

Sorry I meant if the OP

merlyn |

Where a report has been made to SOCA

davidwinch |
davidwinch's picture

Auditing Manchester united football club

alan.kennedy.smithkennedy |
alan.kennedy.smithkennedy's picture

The point of CDD

davidwinch |
davidwinch's picture

Reducing the bureaucracy associated with Money laundering cdd

alan.kennedy.smithkennedy |
alan.kennedy.smithkennedy's picture

Substance over form

davidwinch |
davidwinch's picture

Different perspectives

alan.kennedy.smithkennedy |
alan.kennedy.smithkennedy's picture