A recent report from HMRC revealed that several estate agent businesses were penalised for breaching anti-money laundering...
Effective Solutions for a Breach or Potential Breach
A breach or potential breach of regulations is a concern for any business. AML & Compliance offers expert and impartial investigation services to review a breach, or potential breach, and assist a business in establishing:
- If a breach has occurred
- How it occurred
- How/if it could have been prevented
- Action to be taken
- Solutions to be implemented
Whether the need to investigate a breach is due to an internal report or due to a regulator’s involvement, the sooner a business is able to acknowledge and commence the investigation, the better, and often the more positive, the outcome.
Regulatory investigation can be time-consuming, depending on the issue involved. We will ensure that our approach is as effective as possible to minimise and control disruption to the business, as well as cost through fees or diversion of resources.
Where a report to a regulator is necessary, we will prepare the report on behalf of the business, or we can engage with the regulator on your behalf.
Importantly, we will report to the senior management of the business, providing solutions and outcomes enabling action to be taken which is appropriate and for any rectification actions to be taken to minimise the impact of a breach and to prevent reoccurrence.
We operate on a confidential basis, both independently or as part of an internal investigation team, providing additional resources and expertise.
If you are concerned that your current AML policy is out of date, not robust enough, or you simply want to review your processes and adequately train your staff, please get in contact with our team of experts that have years of experience in this field.