Are you really AML compliant? In this podcast, esteemed AccountingWEB member David Winch and AML expert Richard Simms review the recent AML changes and explain how you can strengthen your compliance.
Click the play button in the box above to listen to the podcast and find out what accounting firms have done to meet the AML regulations and the measures you can take to ensure compliance in the future.
Over the past year, accountants have grappled with new anti-money laundering regulations. The 2017 fourth anti-money laundering directive came into force last summer, and the deadline to get everything done passed by on 26 June this year.
Meanwhile, transparency continues to be a topic of interest. Earlier this year, the government set up the Office for Professional Body Anti-money laundering Supervision (OPBAS) to strengthen the UK’s AML supervision.
That’s why there is no better time for David Winch and Richard Simms to remind you of your AML responsibilities.
What is in this episode?
Over the course of this podcast, some of the topics Simms and Winch discussed are:
What are the big changes emerging from the new directive
Examples of how these changes could trip up accountants
What are the likely problems accountants may find themselves
What are some of the high-risk scenarios accountants could encounter
Whether OPBAS will mean increased fees for accountants