The Money Laundering Regulations 2017 set out your obligations under the UK’s AML/CTF regime. HM Treasury has determined that there should be one piece of AML/CTF guidance for each regulated sector that it will approve. The guidance for the accountancy sector can be found here. It has been updated to reflect the 2017 Regulations.
CIMA has produced these materials to assist members in the UK in complying with their AML/CTF obligations.
For members in Republic of Ireland, your obligations are set out in The Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2018.
CIMA has produced the below materials to assist members in Ireland in complying with their AML/CTF obligations.
The AML/CTF regime in Ireland requires you to have AML/CTF policies that cover specified areas. The sample policies below can be amended to suit your own practice:
Sample AML/CTF Policy (Ireland)
The AML/CTF regime in Ireland requires a risk assessment of your practice to be conducted and documented, in order to identify what money laundering and terrorist financing risks your practice may face and how you will control them. The template below can be amended to suit your own practice:
Practice Risk Assessment Template (Ireland)
The AML/CTF regime in Ireland requires you to perform CDD. This includes obtaining information on the purpose and intended nature of a business relationship. The below CDD form can be used to formally record information you obtain.
You are also required to perform a risk assessment of the business relationship that takes into account certain factors and keep a record of this assessment. The below CDD forms contain a client risk assessment process to assist you in demonstrating how you have assessed the level of risk. The level of CDD you apply must be appropriate to the level of risk.
CDD and Client Risk Assessment - Individuals (Ireland)
Please also see the CCAB Guidance for Ireland for further guidance.
Failure to comply with the regulations
It is a criminal offence under the UK and Ireland regimes to fail to comply with your AML/CTF obligations. CIMA’s materials aim to assist you in complying. However, they are intended as a sample only, and your obligations go beyond the areas they cover. Members must still familiarise themselves with their obligations under their respective legislation and the guidance for their sector.