News and Blogs

AML Compliance Audits: What to Expect

It is a regulatory requirement for most businesses operating in the regulated sector to carry out an ‘Independent Audit of Anti-Money Laundering (AML) Policies, Controls and Procedures’ to comply with Regulation 21 of the Money Laundering Regulations 2017.

Identity Fraud Cases at All-Time High

Identity fraud is now one of the biggest fraud threats to the UK public, with cases soaring by nearly a quarter over the last year, recent figures show.

Economic Crime Act Receives Royal Assent

The Economic Crime and Corporate Transparency Act received Royal Assent on 26 October 2023. The new act contains laws to “fight fraud, counter corruption and bolster legitimate business”.

FCA Fines Broker £6.5m for Historic AML Failings

The Financial Conduct Authority (FCA) has ordered ADM Investor Services International Limited (ADMISI), a broker affiliate of Archer Daniels Midland, to pay almost £6.5m for serious financial crime control failings.

AML Shake-up Puts Accountants at Risk

The UK government’s plans to reform the country’s anti-money laundering (AML) regime will expose accountants and other businesses to a greater risk of financial crimes, professional body the Association of Accounting Technicians (AAT) has warned.