AML & Compliance

AML & Compliance At AML & Compliance, we understand that regulation and compliance can be daunting and complex.

We work with businesses to create compliance structures that simplify policies and procedures wherever possible.

The recent £29 million fine imposed on Starling Bank by the Financial Conduct Authority (FCA) is a stark reminder of the...
10/12/2024

The recent £29 million fine imposed on Starling Bank by the Financial Conduct Authority (FCA) is a stark reminder of the critical importance of maintaining robust Anti-Money Laundering (AML) compliance frameworks.

As the banking sector expands rapidly, ensuring that financial crime controls evolve simultaneously is crucial.

Regulators are increasingly scrutinising institutions that fail to meet AML and sanctions compliance requirements.

Regulated businesses must prioritise frequent reviews of their:
🔹 AML policies
🔹 Procedures
🔹 Controls

Don’t let your business fall into the pitfalls of non-compliance.

👉 Connect with AML & Compliance for comprehensive solutions, including audits, consultancy, and staff training: https://bit.ly/4cGvdRG

This case highlights the importance of keeping pace to tackle financial crime.🔗Find out what the FCA reported in our lat...
06/12/2024

This case highlights the importance of keeping pace to tackle financial crime.

🔗Find out what the FCA reported in our latest article: https://bit.ly/41nh5KO

Update AML update 🗣A new study has found that Professional Body Supervisors (PBSs) who oversee anti-money laundering (AM...
28/11/2024

Update AML update 🗣

A new study has found that Professional Body Supervisors (PBSs) who oversee anti-money laundering (AML) regulations and compliance in the legal and accountancy sectors are failing to meet their obligations.

Learn more about this study here: https://bit.ly/40UaOpD

£100bn laundered annually: Is the UK prepared?A shocking £100bn in criminal cash flows through the UK each year, making ...
27/11/2024

£100bn laundered annually: Is the UK prepared?

A shocking £100bn in criminal cash flows through the UK each year, making it a global hub for money laundering.

From fraud to crypto misuse, economic crime is evolving rapidly, threatening businesses, individuals, and the UK’s reputation.

Read the full article here: https://bit.ly/3CNurW6

Are you keeping up with FCA’s new AR rules?The Financial Conduct Authority (FCA) has highlighted gaps in compliance with...
21/11/2024

Are you keeping up with FCA’s new AR rules?

The Financial Conduct Authority (FCA) has highlighted gaps in compliance with enhanced regulations for appointed representatives (ARs), introduced in December 2022.

From missed self-assessments to outdated onboarding processes, some firms are falling short of the mark.

🔍 Don’t risk non-compliance!

💡 Read more about how we support businesses with regulatory compliance and avoid costly breaches: https://bit.ly/3ZgZcf7

The FCA has charged a record 21 individuals with financial crimes in the last year, reflecting its assertive new approac...
12/11/2024

The FCA has charged a record 21 individuals with financial crimes in the last year, reflecting its assertive new approach to enforcement.

With £21.1m in assets restrained and significant fines like the £15m imposed on PwC, the FCA is doubling down on its commitment to safeguard market integrity.

FCA Executive Director Sarah Pritchard highlighted that tackling financial crime requires a proactive, partnership-based strategy.

Read the full speech for insights into the future of financial regulation and crime prevention.

🔗 Read more here: https://bit.ly/3YIaCXM

Preparing for an AML audit? Follow these five tips to ensure a thorough and effective process. Engaging the right audito...
06/11/2024

Preparing for an AML audit?

Follow these five tips to ensure a thorough and effective process.

Engaging the right auditor, being organised, and welcoming feedback can significantly enhance your compliance efforts.

Connect with our experienced team to learn more: https://bit.ly/4cGvdRG

Penalties for serious breaches of the data protection principles can be significant. The Information Commissioner's Offi...
04/11/2024

Penalties for serious breaches of the data protection principles can be significant.

The Information Commissioner's Office (ICO) can impose fines of up to £17.5 million or 4% of a company’s annual worldwide turnover, whichever amount is higher.

Happy Diwali to everyone celebrating the Festival of Lights! 🕯🎆 of lights
31/10/2024

Happy Diwali to everyone celebrating the Festival of Lights! 🕯🎆

of lights

UK Crown Courts have seen a rise in fraud cases this year, with 122 cases worth over £100k, up from 105 in 2023.Money la...
30/10/2024

UK Crown Courts have seen a rise in fraud cases this year, with 122 cases worth over £100k, up from 105 in 2023.

Money laundering remains a major issue, accounting for £128.2m in value.

Read more here: https://bit.ly/3NokHnx

The FCA has fined Coinbase UK over £3.5 million for anti-money laundering failings, marking the first enforcement under ...
24/10/2024

The FCA has fined Coinbase UK over £3.5 million for anti-money laundering failings, marking the first enforcement under the Electronic Money Regulations Act 2011.

This action highlights the importance of strong financial crime controls within the crypto sector.

🔗 Read more about the case and its implications: https://bit.ly/3zZ5FBs

Obtaining an AML certificate showcases your knowledge and enhances your career prospects in compliance roles. This certi...
23/10/2024

Obtaining an AML certificate showcases your knowledge and enhances your career prospects in compliance roles.

This certification is a valuable asset whether you're looking to advance as a compliance officer or take on other responsibilities within your business’s AML programme.

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