Detailed guidance on how the MLR affect you and the actions you must take to ensure that you & your clients remain compliant with them.
As part of the regulated sector, bookkeepers in practice commit a criminal offence under section 330 Proceeds of Crime Act 2002 (POCA) if they know, suspect, or have reasonable grounds for suspecting, that another person is committing money laundering and
- they discovered this from information they got from working in the regulated sector and
- they failed to disclose this to the Serious Organised Crime Agency (SOCA) or their nominated money laundering officer (MLRO)
The following two downloads will assist you in understanding the legislation and the reasons for the legislation. Specific reference will be made to the forms that can be used to help implement proper money laundering procedures and which are available from the side menu.
You should download both parts below, read the information thoroughly, and make sure that you fully understand and are aware of the consequences if you fail to comply fully with the regulations.
Part 1:
ICB Targeted Guidance 11 pages
This is the ICB general guidance from ICB's head of professional standards, Professor Mark Watson-Gandy. It has been written to provide a straight-to-the-point interpretation of the MLR as they affect you as a bookkeeper and ICB member.
Click the link above to download the pdf.
Part 2:
Full CCAB Guidance for Accountancy Practices 115 pages
This somewhat longer CCAB guidance is a full adaptation of the regulations which, in common with other bodies within the profession, ICB has adopted as its primary guidance. You should endeavour to read this longer document in addition to the distilled ICB document.
Updates:
This guidance may from time to time be updated by ICB. You will be informed of any changes but it is your responsibility to ensure that you read and fully understand any new information and incorporate it into your working practices.
For additional guidance on any MLR/AML related matter, the ICB Compliance Helpline number is 0845 060 2345.
