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AML Guidance

AML Webinar

free webinar is available for all members in practice to support your compliance with current money laundering regulations. You may also wish to make the webinar available to all relevant employees within your practice as part of your obligations around training.

The webinar covers the following topics:

Anti- Money Laundering

  • What is anti-money laundering
  • Knowledge
  • Suspicion
  • Failing to report a criminal offence

Wider AML/CFT Regime

  • Client Due Diligence 
  • Reporting Suspicious Activity (SARs)
  • Training 
  • Record keeping
  • Risk assessment
  • Policy

Client Due Diligence 

  • Veryfying the client's identity
  • Client Risk Assessment
  • Enhanced Due Diligence 
  • Simplified Due Diligence

Flag it Up campaign - CIMA and NCA anti-money laundering webinar

CIMA is supporting the Flag it Up Campaign, to raise awareness of accountants’ obligations, risks and challenges of Money Laundering. 

The following webinar will cover the following topics:

  • Your legal obligations under AML
  • CIMA's expectations 
  • Risks and challenges
  • Tipping off
  • Best practice and support 
  • SARs - why report, how to report and case studies

AMLGAS guidance

The AML Guidance for the Accountancy Sector (AMLGAS) is the standard AML guidance for the accountancy sector. It is intended to be read by anyone who provides audit, accountancy, tax advisory, insolvency, or trust and company services in the United Kingdom to help understand regulatory obligations and how to comply with them. Money Laundering and Terrorist Financing risks can be managed through effective AML policies and procedures in line with this guidance. 

Accountancy AML Supervisors’ Group (AASG) risk document

The Accountancy AML Supervisors' Group (AASG), which includes CIMA and other accountancy sector supervisors named in the Money Laundering Regulations, has jointly published a risk document, highlighting key risks, and red-flag indicators, the AASG consider relevant to the accountancy sector.
The document will be updated on a regular basis, reflecting the UK’s National Risk Assessment and other emerging threats and trends.

View document here.

Supplementary Anti-Money Laundering Guidance for Tax practitioners

The Anti-Money Laundering and Counter-Terrorist Financing Guidance (AMLGAS) provides Supplementary Anti-Money Laundering Guidance for Tax practitioners. This supplementary guidance is not standalone guidance; it must be read in conjunction with the CCAB’s Anti-Money Laundering Guidance for the Accotancy Sector 2020The guidance focuses on tax specific issues for accounts.

Please note that, CIMA does not offer tax within the CIMA syllabus and additional tax training is recommended should you wish to offer that service within your practice. Please also remember that a fundamental principle of the CIMA Code of Ethics is competency and due care. It is therefore essential that you do not offer services in which you are not fully competent to do so.

UKFIU Guidance on SARs

The UKFIU publications and guidance on SARs:

SARs in action

SAR Glossary codes

SARs reporter booklet

Further guidance can be found on CIMA’s Reporting Suspicious Activity

UKFIU podcast

The UKFIU launches its podcast. The podcast is for educational purposes and is part of the UKFIU’s new digital presence delivering a smarter approach to fighting crime, in line with UKFIU priorities of reducing harm, protecting the integrity of the UK economy and ensuring that there are no safe spaces for economic crime or terrorism financing.

The UKFIU Podcast (podbean.com)

If you have any questions regarding the webinar or AML/CTF compliance, please contact us at aml@aicpa-cima.com