Companies in the UK are required to comply with a raft of legislation and regulations in order to prevent them being used to launder the money of criminals or terrorists. This has never been more important than in the current Pandemic, when KYC can be harder and fraudsters are taking advantage of the dislocation.
The Proceeds of Crime Act 2002 requires companies to implement detailed anti-money laundering procedures in order to avoid breaching the regime. Compliance is essential as the consequences of getting it wrong are severe.
This course provides attendees with an overview of the UK Anti-Money Laundering and Counter Terrorist Financing legislation framework including content on Covid 19 related changes and issues. It will include outlining the importance of Know Your Client (KYC), reporting suspicious transactions and considering recent enforcement developments from the FCA, the Serious Fraud Office (SFO) and the National Crime Agency (NCA). The course will also reflect on the compliance changes and challenges that have arisen during the Covid-19 era.