The new Fourth Money Laundering Directive (EU) 2015/849 was passed by the EU in June 2015 and will be implemented in the UK by June 2017.
I am receiving cold calls selling me new products to help comply with this.
Do I need to buy a new product? I don't have any clients dealing in large cash quantities (no restaurants/tradesmen etc.) and I assess each client when I take them on. If they are not low risk I don't take them on. I don't currently document the risk assessments.
It would be good to hear back from other accountants who must be receiving similar cold calls