{"id":7179,"date":"2024-03-21T14:11:17","date_gmt":"2024-03-21T14:11:17","guid":{"rendered":"https:\/\/www.amlcc.com\/?p=7179"},"modified":"2024-11-26T11:09:43","modified_gmt":"2024-11-26T11:09:43","slug":"anti-money-laundering-compliance","status":"publish","type":"post","link":"https:\/\/www.amlcc.com\/pan\/anti-money-laundering-compliance\/","title":{"rendered":"Would you pass an AML inspection today?"},"content":{"rendered":"\n<div class=\"wp-block-uagb-container uagb-block-8cdf7575 alignfull uagb-is-root-container\"><div class=\"uagb-container-inner-blocks-wrap\"><h1 style=\"margin-top:0;margin-bottom:0\" class=\"wp-block-post-title\">Would you pass an AML inspection today?<\/h1>\n\n\n<div class=\"wp-block-uagb-info-box uagb-block-4293da6b uagb-infobox__content-wrap  uagb-infobox-icon-left-title uagb-infobox-left uagb-infobox-image-valign-middle\"><div class=\"uagb-ifb-content\"><div class=\"uagb-ifb-left-title-image\"><div class=\"uagb-ifb-image-content\"><img decoding=\"async\" src=\"https:\/\/www.amlcc.com\/wp-content\/uploads\/2024\/09\/Richard-Simms-AMLCC-956x1024.png\" alt=\"Richard Simms\" width=\"80\" height=\"85\" loading=\"lazy\"\/><\/div><div class=\"uagb-ifb-title-wrap\"><span class=\"uagb-ifb-title-prefix\">Richard Simms<\/span><h3 class=\"uagb-ifb-title\">Director and Founder of AMLCC and AMLCC Consult<\/h3><\/div><\/div><\/div><\/div>\n\n\n<figure class=\"wp-block-post-featured-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1920\" height=\"1240\" src=\"https:\/\/www.amlcc.com\/wp-content\/uploads\/2024\/10\/8-steps.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Would you pass an AML inspection today?\" style=\"aspect-ratio:16\/9;width:100%;height:480px;object-fit:cover;\" srcset=\"https:\/\/www.amlcc.com\/wp-content\/uploads\/2024\/10\/8-steps.jpg 1920w, https:\/\/www.amlcc.com\/wp-content\/uploads\/2024\/10\/8-steps-300x194.jpg 300w, https:\/\/www.amlcc.com\/wp-content\/uploads\/2024\/10\/8-steps-1024x661.jpg 1024w, https:\/\/www.amlcc.com\/wp-content\/uploads\/2024\/10\/8-steps-768x496.jpg 768w, https:\/\/www.amlcc.com\/wp-content\/uploads\/2024\/10\/8-steps-1536x992.jpg 1536w\" sizes=\"auto, (max-width: 1920px) 100vw, 1920px\" \/><\/figure><\/div><\/div>\n\n\n\n<div class=\"wp-block-uagb-container uagb-block-f4715dae alignfull uagb-is-root-container\"><div class=\"uagb-container-inner-blocks-wrap\">\n<div class=\"wp-block-uagb-container uagb-block-f9c6201f\">\n<h2 class=\"wp-block-heading\"><strong>Anti-money laundering compliance<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Even more seriously, if law enforcement knocked at the door investigating a client, would you be able to prove you\u2019ve done everything possible to detect, prevent and report criminal activity?<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Recent statistics suggest that many firms couldn\u2019t.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The SRA\u2019s Anti-Money Laundering annual report 2022-23 reveals that <a href=\"https:\/\/www.sra.org.uk\/sra\/research-publications\/aml-annual-report-2022-23\/\">1 in 3 law firms<\/a> are not AML compliant. Accountancy businesses are little better, with supervisors reporting varied results including <a href=\"https:\/\/www.ifa.org.uk\/media\/2694682\/Anti-money-laundering-supervision-and-monitoring-2022_23-reg-46a-.pdf\">26% of those inspected needing follow-up action<\/a> and only between <a href=\"https:\/\/www.aiaworldwide.com\/insights\/aml\/aml-supervision\/aml-supervisory-activity-report-2022-2023\/\">3 and 4% of those inspected deemed to be \u2018compliant\u2019<\/a>. Meanwhile, the property sector accounts for almost <a href=\"https:\/\/www.estateagenttoday.co.uk\/sponsored-content\/2022\/8\/as-hmrc-reveals-almost-half-of-those-falling-foul-of-aml-regulations-are-property-firms-estate-agents-are-urged-to-get-their-compliance-in-order-or-face-the-consequences\">half of the AML-related fines<\/a> handed out by HMRC.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">With the risk of stiff penalties and even criminal prosecution for AML breaches, regulated professionals cannot afford to fall short when their supervisor or the National Crime Agency (NCA) come calling.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">By taking proactive steps to comply with evolving AML rules, firms can avoid painful sanctions and protect the integrity of the UK financial system.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>How to get compliant<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The most common <a href=\"https:\/\/www.sra.org.uk\/sra\/research-publications\/aml-annual-report-2022-23\/\">issues cited for inspection failures <\/a>include inadequate AML policies, controls and procedures (PCPs), deficient or absent business and client risk assessments, poor client due diligence practices and a lack of appropriate employee training.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">If you\u2019ve not done much AML until now, the thought of getting started might be overwhelming. The temptation might even be to put it off. But what would you do if you were inspected now?&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">These steps give you an overview of what you can do today to get your AML moving, in order to prepare yourself for that call.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Step 1. Appoint the right AML leaders&nbsp;<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Every firm needs to appoint a member of senior management, generally known as the Money Laundering Compliance Officer (MLCO), or the Money Laundering Compliance Principal (MLCP). They\u2019re responsible for making sure your business is correctly complying with all its legal AML obligations. This involves responsibilities like:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>creating and updating the business-wide and any secondary risk assessments<\/li>\n\n\n\n<li>ensuring AML PCPs are robust, relevant, up to date and address the risks identified in your business-wide risk assessment.<\/li>\n\n\n\n<li>overseeing all day-to-day AML activities, including client risk assessments, monitoring and training.<\/li>\n\n\n\n<li>serving as the key AML contact for law enforcement and regulatory bodies.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">The MLRO (Money Laundering Reporting Officer) also plays a critical role in your business\u2019 AML compliance, in their role as nominated officer. As their title suggests, they\u2019re responsible for receiving and assessing internal SARs. They also need to make the final decision on whether to submit an external SAR to the NCA.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The MLCO or MLCP may delegate the business\u2019 operational, day-to-day AML compliance work (this delegation must be documented). But they can\u2019t delegate responsibility and accountability.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Having competent individuals in these roles is critical. They need to be sufficiently senior and have authority in the business to act effectively. They should also have extensive AML expertise and understanding of the current regulations and risks.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">If you\u2019re a sole practitioner, you\u2019ll automatically assume both roles.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Step 2. Educate and train your employees<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">A critical component of AML compliance is training all employees on their legal duties, as well as on your PCPs. This AML training must include all senior management and any employee or agent who works on your behalf and cover the different roles they carry out.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Employees should be trained as part of their onboarding and receive refresher AML training at least annually. Detailed records of all training must be maintained. During training, employees should gain:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>an understanding of UK AML laws, regulations, sector guidance and professional body requirements.<\/li>\n\n\n\n<li>knowledge of your PCPs.<\/li>\n\n\n\n<li>the ability to recognise suspicious transactions and activity.<\/li>\n\n\n\n<li>familiarity with internal reporting procedures for escalating suspicions.<\/li>\n\n\n\n<li>awareness of the consequences for non-compliance.<\/li>\n\n\n\n<li>confidence in carrying out AML duties according to firm policies.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Following training, employees should be tested and complete a certification confirming their understanding and readiness to help your business comply.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Step 3. Create your AML PCPs<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Businesses must have written, up-to-date AML PCPs in place that reflect the risks identified in the business-wide and secondary risk assessments. Generic, off-the-shelf AML policies are not sufficient. Firms need AML policies tailored specifically to their business operations, clients, products and services.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Your AML PCPs should cover key areas like customer due diligence, reporting suspicious activity, record keeping, risk assessment and management and employee training. The policies need to provide clear, actionable procedures for your employees to follow.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Having custom AML PCPs shows regulators that your business understands the money laundering (ML), terrorist financing (TF) and proliferation financing (PF) risks inherent to your particular business model and client base.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Step 4. Evaluate risk<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">You must have a deep understanding of the risks your business faces and what impact your clients have on that risk, and make sure this understanding is well documented.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">You\u2019ll make many decisions that will affect your business\u2019 risk of exposure to money laundering. For example, how do you engage with clients? And what business sectors do you target?&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Your business as a whole, separate service lines, departments and branches, as well as each client, must have a documented risk assessment. These assessments analyse and document the money laundering, terrorist financing and proliferation financing risks your business faces. By thoroughly evaluating your exposure, you can implement appropriate steps to mitigate the risks.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Bear in mind that money laundering is dynamic. Your AML needs to be too. Any idea of your risk formed through your client and business risk assessments is potentially only of value at the point it\u2019s created. As your business changes and your clients change so does your exposure to risk.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Changing circumstances will require updates to risk assessments to ensure your AML keeps pace with any changes to your business, clients or the regulatory environment. If nothing has changed it\u2019s generally expected to update risk assessments annually.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Step 5. Verify your clients<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">You must confirm the identity of your clients and verify that identity.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It\u2019s important to confirm the individual claiming an identity has the right to it. Certifying a government-issued photo ID document either in person or through a third party of good standing will do that for you. Or you could use a biometric ID check.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">If you\u2019re using online ID verifications provided by a third party, you need to understand the steps the supplier is taking to perform these checks. An online ID check may confirm that an identity exists but additional steps are needed to confirm that someone actually has the right to it.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The information you need to gather for clients who aren\u2019t natural persons will vary on the client type. An example is trusts, limited companies or partnerships. You must also remember it\u2019s essential to identify and verify ultimate beneficial owners even in very opaque situations.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">And don\u2019t forget the importance of screening clients against sanctions lists, PEP lists and adverse media.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Keeping this client information up to date is equally important, as this is essential information that would need to be disclosed if a SAR is submitted to the NCA.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It\u2019s also important to remember that this identification and verification process is just a fraction of your overall AML obligations.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Step 6. Write it down<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">To pass an AML inspection, you must be able to show that your business maintains detailed and accurate records relating to its AML processes and risk management. \u201cIf it\u2019s not written down it didn\u2019t happen.\u201d&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This applies to all aspects of AML. Your records are your defence should you be unwittingly drawn into a criminal investigation.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">We\u2019ve spoken to several UK professionals who have had law enforcement turn up out of the blue, investigating a client. Fortunately, they were able to show the enforcement agents their AMLCC documentation on the client, showing that all the necessary AML had been carried out.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">As a result, the professional was in the clear and not investigated any further. Without such robust record keeping in place, the story could have ended very differently.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Step 7. Report suspicious activity&nbsp;<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">If you or any employee suspects that criminal activity is taking place, no matter the value of the assets or funds involved, the first action is to make a written internal SAR. This goes to your business\u2019 MLRO.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">You need to detail this process in your PCPs, so that everyone knows how to make a SAR should they need to. As a rule of thumb, they must be detailed and fact-based, and include names, addresses and account details of your clients, as well as the reasoning behind your suspicions.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It\u2019s up to your MLRO to assess the information and submit an external SAR to the NCA where appropriate. Where they decide an external SAR isn\u2019t needed, their reasoning must be documented. This proves that, if an investigation by law enforcement does take place, your business has considered the matter and the report was made for good reasons.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Step 8. Keep it going<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Doing all this once isn\u2019t enough. Every part of your AML must be kept up to date to reflect changes in your clients, your business and any changes in the Regulations and sector guidance.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">By taking these steps, it\u2019s then easier to maintain your AML day-to-day, with regular updates to documentation and risk assessments. It also means you\u2019ll be well prepared for AML inspections and able to demonstrate compliance with regulations.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Don&#8217;t wait until it&#8217;s too late. A failure can lead to significant fines and reputational damage, so making AML compliance a priority now is crucial.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">AMLCC gives you every tool you need to complete all your business\u2019 anti-money laundering compliance obligations. Explore our <a href=\"https:\/\/www.amlcc.com\/product-features\/\">product features<\/a> to discover how or book a discovery call with one of our AML-qualified advisors who will show you around the platform.&nbsp;<\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-container-core-buttons-is-layout-2 wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-outline\"><a href=\"\" class=\"wp-block-button__link wp-element-button\" onclick=\"Calendly.initPopupWidget({url: 'https:\/\/calendly.com\/lisa-jco\/amlcc-demo?hide_gdpr_banner=1&#038;primary_color=ff4f5b'});return false;\">Book a demo<\/a><\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-uagb-container article-cta uag-hide-desktop uagb-block-f6be450a\">\n<div class=\"wp-block-uagb-advanced-heading uagb-block-69b8c097\"><h3 class=\"uagb-heading-text\">The one-stop AML solution<\/h3><\/div>\n\n\n\n<p class=\"has-ast-global-color-6-color has-text-color has-link-color wp-elements-1 wp-block-paragraph\" style=\"margin-top:0px;margin-bottom:0px;font-size:20px;line-height:1.3\">Educate your teams, improve efficiency and achieve AML compliance all in one place, using AMLCC.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-container-core-buttons-is-layout-2 wp-block-buttons-is-layout-flex\" style=\"justify-content: center;\">\n<div class=\"wp-block-button is-style-fill\"><a href=\"\" class=\"wp-block-button__link wp-element-button demo-secondary\" onclick=\"Calendly.initPopupWidget({url: 'https:\/\/calendly.com\/lisa-jco\/amlcc-demo?hide_gdpr_banner=1&#038;primary_color=ff4f5b'});return false;\">Book now<\/a><\/div>\n<\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-uagb-container uag-hide-desktop uagb-block-c5c14d25\">\n<div class=\"wp-block-uagb-advanced-heading uagb-block-a787415a\"><h3 class=\"uagb-heading-text\">We know AML<\/h3><\/div>\n\n\n\n<p class=\"has-ast-global-color-6-color has-text-color has-link-color wp-elements-2 wp-block-paragraph\" style=\"margin-top:0px;margin-bottom:0px;font-size:20px;line-height:1.3\">We\u2019re regulated professionals too. We know what you need to comply with the Regulations.<br><\/p>\n\n\n\n<div class=\"wp-block-uagb-icon-list uagb-block-cffcf54f\"><div class=\"uagb-icon-list__wrap\">\n<div class=\"wp-block-uagb-icon-list-child uagb-block-082e00ee\"><span class=\"uagb-icon-list__source-wrap\"><svg xmlns=\"https:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 512 512\"><path d=\"M0 256C0 114.6 114.6 0 256 0C397.4 0 512 114.6 512 256C512 397.4 397.4 512 256 512C114.6 512 0 397.4 0 256zM371.8 211.8C382.7 200.9 382.7 183.1 371.8 172.2C360.9 161.3 343.1 161.3 332.2 172.2L224 280.4L179.8 236.2C168.9 225.3 151.1 225.3 140.2 236.2C129.3 247.1 129.3 264.9 140.2 275.8L204.2 339.8C215.1 350.7 232.9 350.7 243.8 339.8L371.8 211.8z\"><\/path><\/svg><\/span><span class=\"uagb-icon-list__label\">We\u2019re internationally recognised AML experts<\/span><\/div>\n\n\n\n<div class=\"wp-block-uagb-icon-list-child uagb-block-ebce1a01\"><span class=\"uagb-icon-list__source-wrap\"><svg xmlns=\"https:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 512 512\"><path d=\"M0 256C0 114.6 114.6 0 256 0C397.4 0 512 114.6 512 256C512 397.4 397.4 512 256 512C114.6 512 0 397.4 0 256zM371.8 211.8C382.7 200.9 382.7 183.1 371.8 172.2C360.9 161.3 343.1 161.3 332.2 172.2L224 280.4L179.8 236.2C168.9 225.3 151.1 225.3 140.2 236.2C129.3 247.1 129.3 264.9 140.2 275.8L204.2 339.8C215.1 350.7 232.9 350.7 243.8 339.8L371.8 211.8z\"><\/path><\/svg><\/span><span class=\"uagb-icon-list__label\">We work with most accountancy supervisors and the Law Society<\/span><\/div>\n\n\n\n<div class=\"wp-block-uagb-icon-list-child uagb-block-352e4894\"><span class=\"uagb-icon-list__source-wrap\"><svg xmlns=\"https:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 512 512\"><path d=\"M0 256C0 114.6 114.6 0 256 0C397.4 0 512 114.6 512 256C512 397.4 397.4 512 256 512C114.6 512 0 397.4 0 256zM371.8 211.8C382.7 200.9 382.7 183.1 371.8 172.2C360.9 161.3 343.1 161.3 332.2 172.2L224 280.4L179.8 236.2C168.9 225.3 151.1 225.3 140.2 236.2C129.3 247.1 129.3 264.9 140.2 275.8L204.2 339.8C215.1 350.7 232.9 350.7 243.8 339.8L371.8 211.8z\"><\/path><\/svg><\/span><span class=\"uagb-icon-list__label\">Bespoke AML consultancy available for all sectors<\/span><\/div>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-uagb-buttons uagb-buttons__outer-wrap uagb-btn__default-btn uagb-btn-tablet__default-btn uagb-btn-mobile__default-btn uagb-block-fc153394\"><div class=\"uagb-buttons__wrap uagb-buttons-layout-wrap \">\n<div class=\"wp-block-uagb-buttons-child uagb-buttons__outer-wrap uagb-block-79a4148c wp-block-button\"><div class=\"uagb-button__wrapper\"><a class=\"uagb-buttons-repeater wp-block-button__link\" aria-label=\"\" href=\"https:\/\/www.amlcc.com\/consult\/\" rel=\"follow noopener\" target=\"_self\" role=\"button\"><div class=\"uagb-button__link\">Find out more<\/div><\/a><\/div><\/div>\n<\/div><\/div>\n<\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-uagb-container uagb-block-99e38104\">\t\t\t\t<div class=\"wp-block-uagb-table-of-contents uagb-toc__align-left uagb-toc__columns-1  uagb-block-1daea5fd article-toc     \"\n\t\t\t\t\tdata-scroll= \"1\"\n\t\t\t\t\tdata-offset= \"30\"\n\t\t\t\t\tstyle=\"\"\n\t\t\t\t>\n\t\t\t\t<div class=\"uagb-toc__wrap\">\n\t\t\t\t\t\t<div class=\"uagb-toc__title\">\n\t\t\t\t\t\t\tJump to:\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"uagb-toc__list-wrap \">\n\t\t\t\t\t\t<ol class=\"uagb-toc__list\"><li class=\"uagb-toc__list\"><a href=\"#anti-money-laundering-compliance\" class=\"uagb-toc-link__trigger\">Anti-money laundering compliance<\/a><li class=\"uagb-toc__list\"><a href=\"#how-to-get-compliant\" class=\"uagb-toc-link__trigger\">How to get compliant<\/a><\/ol>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\n\n\n<div class=\"wp-block-uagb-container article-cta uag-hide-tab uag-hide-mob uagb-block-9b41d3fe\">\n<div class=\"wp-block-uagb-advanced-heading uagb-block-28078d4a\"><h3 class=\"uagb-heading-text\">The one-stop AML solution<\/h3><\/div>\n\n\n\n<p class=\"has-ast-global-color-6-color has-text-color has-link-color wp-elements-3 wp-block-paragraph\" style=\"margin-top:0px;margin-bottom:0px;font-size:20px;line-height:1.3\">Educate your teams, improve efficiency and achieve AML compliance all in one place, using AMLCC. <\/p>\n\n\n\n<p class=\"has-ast-global-color-6-color has-text-color has-link-color wp-elements-4 wp-block-paragraph\" style=\"margin-top:0px;margin-bottom:0px;font-size:20px;line-height:1.3\">Talk to our experts about how we can help you secure your business.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-container-core-buttons-is-layout-2 wp-block-buttons-is-layout-flex\" style=\"justify-content: center;\">\n<div class=\"wp-block-button is-style-fill\"><a href=\"\" class=\"wp-block-button__link wp-element-button demo-secondary\" onclick=\"Calendly.initPopupWidget({url: 'https:\/\/calendly.com\/lisa-jco\/amlcc-demo?hide_gdpr_banner=1&#038;primary_color=ff4f5b'});return false;\">Book a demo<\/a><\/div>\n<\/div>\n<\/div>\n\n\n\n<div class=\"uagb-position__sticky wp-block-uagb-container uag-hide-tab uag-hide-mob uagb-block-353bcb12\">\n<div class=\"wp-block-uagb-advanced-heading uagb-block-45cdaeb7\"><h3 class=\"uagb-heading-text\">We know AML<\/h3><\/div>\n\n\n\n<p class=\"has-ast-global-color-6-color has-text-color has-link-color wp-elements-5 wp-block-paragraph\" style=\"margin-top:0px;margin-bottom:0px;font-size:20px;line-height:1.3\">We\u2019re regulated professionals too. We know what you need to comply with the Regulations.<br><\/p>\n\n\n\n<div class=\"wp-block-uagb-icon-list uagb-block-b41f0db0\"><div class=\"uagb-icon-list__wrap\">\n<div class=\"wp-block-uagb-icon-list-child uagb-block-333d0a11\"><span class=\"uagb-icon-list__source-wrap\"><svg xmlns=\"https:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 512 512\"><path d=\"M0 256C0 114.6 114.6 0 256 0C397.4 0 512 114.6 512 256C512 397.4 397.4 512 256 512C114.6 512 0 397.4 0 256zM371.8 211.8C382.7 200.9 382.7 183.1 371.8 172.2C360.9 161.3 343.1 161.3 332.2 172.2L224 280.4L179.8 236.2C168.9 225.3 151.1 225.3 140.2 236.2C129.3 247.1 129.3 264.9 140.2 275.8L204.2 339.8C215.1 350.7 232.9 350.7 243.8 339.8L371.8 211.8z\"><\/path><\/svg><\/span><span class=\"uagb-icon-list__label\">We\u2019re internationally recognised AML experts<\/span><\/div>\n\n\n\n<div class=\"wp-block-uagb-icon-list-child uagb-block-b485c460\"><span class=\"uagb-icon-list__source-wrap\"><svg xmlns=\"https:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 512 512\"><path d=\"M0 256C0 114.6 114.6 0 256 0C397.4 0 512 114.6 512 256C512 397.4 397.4 512 256 512C114.6 512 0 397.4 0 256zM371.8 211.8C382.7 200.9 382.7 183.1 371.8 172.2C360.9 161.3 343.1 161.3 332.2 172.2L224 280.4L179.8 236.2C168.9 225.3 151.1 225.3 140.2 236.2C129.3 247.1 129.3 264.9 140.2 275.8L204.2 339.8C215.1 350.7 232.9 350.7 243.8 339.8L371.8 211.8z\"><\/path><\/svg><\/span><span class=\"uagb-icon-list__label\">We work with most accountancy supervisors and the Law Society<\/span><\/div>\n\n\n\n<div class=\"wp-block-uagb-icon-list-child uagb-block-c0d2ec75\"><span class=\"uagb-icon-list__source-wrap\"><svg xmlns=\"https:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 512 512\"><path d=\"M0 256C0 114.6 114.6 0 256 0C397.4 0 512 114.6 512 256C512 397.4 397.4 512 256 512C114.6 512 0 397.4 0 256zM371.8 211.8C382.7 200.9 382.7 183.1 371.8 172.2C360.9 161.3 343.1 161.3 332.2 172.2L224 280.4L179.8 236.2C168.9 225.3 151.1 225.3 140.2 236.2C129.3 247.1 129.3 264.9 140.2 275.8L204.2 339.8C215.1 350.7 232.9 350.7 243.8 339.8L371.8 211.8z\"><\/path><\/svg><\/span><span class=\"uagb-icon-list__label\">Bespoke AML consultancy available for all sectors<\/span><\/div>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-uagb-buttons uagb-buttons__outer-wrap uagb-btn__default-btn uagb-btn-tablet__default-btn uagb-btn-mobile__default-btn uagb-block-27986e97\"><div class=\"uagb-buttons__wrap uagb-buttons-layout-wrap \">\n<div class=\"wp-block-uagb-buttons-child uagb-buttons__outer-wrap uagb-block-5e096d1b wp-block-button\"><div class=\"uagb-button__wrapper\"><a class=\"uagb-buttons-repeater wp-block-button__link\" aria-label=\"\" href=\"https:\/\/www.amlcc.com\/consult\/\" rel=\"follow noopener\" target=\"_self\" role=\"button\"><div class=\"uagb-button__link\">Find out more<\/div><\/a><\/div><\/div>\n<\/div><\/div>\n<\/div>\n<\/div>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-uagb-container half-blue-desktop uagb-block-89ea4904 alignfull uagb-is-root-container\">\n<div class=\"wp-block-uagb-container uagb-block-fdab8534\">\n<div class=\"wp-block-uagb-advanced-heading uagb-block-52a83ed5\"><h3 class=\"uagb-heading-text\">What others have said<\/h3><\/div>\n\n\n\n<div class=\"wp-block-uagb-slider amlcc-testimonial-slider uagb-block-6c68dd50 uagb-slider-container\"><div class=\"uagb-slides uagb-swiper\"><div class=\"swiper-wrapper\">\n<div class=\"wp-block-uagb-slider-child uagb-slider-child-wrap swiper-slide uagb-block-b998a2d4\"><div class=\"swiper-content\">\n<div class=\"wp-block-uagb-container uagb-block-04f3c45e\">\n<div class=\"wp-block-uagb-container uagb-block-02c01de1\">\n<div class=\"wp-block-uagb-advanced-heading uagb-block-b215507c\"><h3 class=\"uagb-heading-text\">&#8220;We had the man from the ICAEW here yesterday to carry out a QAD practice review. We got a clean bill of health \u2013 not a single action point\u2026That is in no small measure due to AMLCC so I just wanted to say \u2018thank you\u2019&#8221;<\/h3><\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-uagb-container uagb-block-949a56df\">\n<figure class=\"wp-block-image aligncenter size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"550\" height=\"812\" src=\"https:\/\/www.amlcc.com\/wp-content\/uploads\/2023\/11\/testimonial-1.jpg\" alt=\"\" class=\"wp-image-495\" style=\"aspect-ratio:3\/4;object-fit:contain;width:auto;height:382px\" srcset=\"https:\/\/www.amlcc.com\/wp-content\/uploads\/2023\/11\/testimonial-1.jpg 550w, https:\/\/www.amlcc.com\/wp-content\/uploads\/2023\/11\/testimonial-1-203x300.jpg 203w\" sizes=\"auto, (max-width: 550px) 100vw, 550px\" \/><\/figure>\n<\/div>\n<\/div>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-uagb-slider-child uagb-slider-child-wrap swiper-slide uagb-block-cc23ebfe\"><div class=\"swiper-content\">\n<div class=\"wp-block-uagb-container uagb-block-af8628f6\">\n<div class=\"wp-block-uagb-container uagb-block-9e1b5830\">\n<div class=\"wp-block-uagb-advanced-heading uagb-block-bdd14157\"><h3 class=\"uagb-heading-text\">&#8220;Thank you for such a perfect and informative [solution]. You have given me a clear direction for my AML training and CPD.&#8221;<br><\/h3><\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-uagb-container uagb-block-ef336e36\">\n<figure class=\"wp-block-image aligncenter size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"550\" height=\"786\" src=\"https:\/\/www.amlcc.com\/wp-content\/uploads\/2023\/11\/testimonial-2.jpg\" alt=\"\" class=\"wp-image-496\" style=\"aspect-ratio:3\/4;object-fit:contain;width:auto;height:382px\" srcset=\"https:\/\/www.amlcc.com\/wp-content\/uploads\/2023\/11\/testimonial-2.jpg 550w, https:\/\/www.amlcc.com\/wp-content\/uploads\/2023\/11\/testimonial-2-210x300.jpg 210w\" sizes=\"auto, (max-width: 550px) 100vw, 550px\" \/><\/figure>\n<\/div>\n<\/div>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-uagb-slider-child uagb-slider-child-wrap swiper-slide uagb-block-040a7367\"><div class=\"swiper-content\">\n<div class=\"wp-block-uagb-container uagb-block-3b2e0080\">\n<div class=\"wp-block-uagb-container uagb-block-64ce7dad\">\n<div class=\"wp-block-uagb-advanced-heading uagb-block-3d47ccc6\"><h3 class=\"uagb-heading-text\">&#8220;I just wanted to say \u2018thank you\u2019 to you, Richard, and all the team at AMLCC for providing a service that really does minimise the burden of AML compliance.&#8221;<br><\/h3><\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-uagb-container uagb-block-e1d755c8\">\n<figure class=\"wp-block-image aligncenter size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"550\" height=\"732\" src=\"https:\/\/www.amlcc.com\/wp-content\/uploads\/2023\/11\/testimonial-3.jpg\" alt=\"\" class=\"wp-image-494\" style=\"aspect-ratio:3\/4;object-fit:contain;width:auto;height:382px\" srcset=\"https:\/\/www.amlcc.com\/wp-content\/uploads\/2023\/11\/testimonial-3.jpg 550w, https:\/\/www.amlcc.com\/wp-content\/uploads\/2023\/11\/testimonial-3-225x300.jpg 225w\" sizes=\"auto, (max-width: 550px) 100vw, 550px\" \/><\/figure>\n<\/div>\n<\/div>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-uagb-slider-child uagb-slider-child-wrap swiper-slide uagb-block-403770d4\"><div class=\"swiper-content\">\n<div class=\"wp-block-uagb-container uagb-block-a0d5a66b\">\n<div class=\"wp-block-uagb-container uagb-block-a9b0dbd5\">\n<div class=\"wp-block-uagb-advanced-heading uagb-block-302585b3\"><h3 class=\"uagb-heading-text\">&#8220;What a refreshing pleasure working with a company who actually listens to the feedback from their customers and communicates with them!&#8221;<br><\/h3><\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-uagb-container uagb-block-64782dba\">\n<figure class=\"wp-block-image aligncenter size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"550\" height=\"732\" src=\"https:\/\/www.amlcc.com\/wp-content\/uploads\/2023\/11\/testimonial-4.jpg\" alt=\"\" class=\"wp-image-497\" style=\"aspect-ratio:3\/4;object-fit:contain;width:auto;height:382px\" srcset=\"https:\/\/www.amlcc.com\/wp-content\/uploads\/2023\/11\/testimonial-4.jpg 550w, https:\/\/www.amlcc.com\/wp-content\/uploads\/2023\/11\/testimonial-4-225x300.jpg 225w\" sizes=\"auto, (max-width: 550px) 100vw, 550px\" \/><\/figure>\n<\/div>\n<\/div>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-uagb-slider-child uagb-slider-child-wrap swiper-slide uagb-block-9b9b7e36\"><div class=\"swiper-content\">\n<div class=\"wp-block-uagb-container uagb-block-3a9f75d3\">\n<div class=\"wp-block-uagb-container uagb-block-aa8435c0\">\n<div class=\"wp-block-uagb-advanced-heading uagb-block-afe45a8b\"><h3 class=\"uagb-heading-text\">&#8220;Your team they have been excellent from the moment Fiona did a demo for me with only 15 minutes notice, and thoroughly going through the AMLCC product, answering the many questions I had! It was at this point at which I made up my mind this is the sort of business I want to work with for my AML.&#8221;<br><\/h3><\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-uagb-container uagb-block-8f4648c6\">\n<figure class=\"wp-block-image aligncenter size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"550\" height=\"798\" src=\"https:\/\/www.amlcc.com\/wp-content\/uploads\/2023\/11\/testimonial-5.jpg\" alt=\"\" class=\"wp-image-498\" style=\"aspect-ratio:3\/4;object-fit:contain;width:auto;height:382px\" srcset=\"https:\/\/www.amlcc.com\/wp-content\/uploads\/2023\/11\/testimonial-5.jpg 550w, https:\/\/www.amlcc.com\/wp-content\/uploads\/2023\/11\/testimonial-5-207x300.jpg 207w\" sizes=\"auto, (max-width: 550px) 100vw, 550px\" \/><\/figure>\n<\/div>\n<\/div>\n<\/div><\/div>\n<\/div><\/div><div class=\"swiper-pagination\"><\/div><\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-uagb-container uagb-block-bd594624\">\n<div class=\"wp-block-uagb-advanced-heading uagb-block-deefd48d\"><h3 class=\"uagb-heading-text\">Making compliance easier<\/h3><\/div>\n\n\n\n<div class=\"wp-block-uagb-image aligncenter uagb-block-94cd8a56 wp-block-uagb-image--layout-default wp-block-uagb-image--effect-static wp-block-uagb-image--align-center\"><figure class=\"wp-block-uagb-image__figure\"><img decoding=\"async\" src=\"https:\/\/www.amlcc.com\/wp-content\/uploads\/2023\/11\/image-22-1.png\" alt=\"AMLCC newsroom\" class=\"uag-image-1454\" width=\"700\" height=\"450\" title=\"image-22-1\" loading=\"lazy\" role=\"img\" \/><\/figure><\/div>\n\n\n\n<div class=\"wp-block-uagb-buttons uagb-buttons__outer-wrap uagb-btn__default-btn uagb-btn-tablet__default-btn uagb-btn-mobile__default-btn uagb-block-d88e5ed5\"><div class=\"uagb-buttons__wrap uagb-buttons-layout-wrap \">\n<div class=\"wp-block-uagb-buttons-child uagb-buttons__outer-wrap uagb-block-762fbc5a wp-block-button\"><div class=\"uagb-button__wrapper\"><a class=\"uagb-buttons-repeater wp-block-button__link\" aria-label=\"\" href=\"\/press\/\" rel=\"follow noopener\" target=\"_self\" role=\"button\"><div class=\"uagb-button__link\">View more articles<\/div><\/a><\/div><\/div>\n<\/div><\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Anti-money laundering compliance Even more seriously, if law enforcement knocked at the door investigating a client, would you be able to prove you\u2019ve done everything possible to detect, prevent and report criminal activity? Recent statistics suggest that many firms couldn\u2019t. The SRA\u2019s Anti-Money Laundering annual report 2022-23 reveals that 1 in 3 law firms are [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":8987,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"unboxed","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[1],"tags":[],"class_list":["post-7179","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Anti-money laundering compliance. Get inspection-ready in 8 steps<\/title>\n<meta name=\"description\" content=\"Staying on top of your anti-money laundering compliance is crucial as regulators crack down. Follow these 8 steps to building a healthy AML environment.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.amlcc.com\/pan\/anti-money-laundering-compliance\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Would you pass an AML inspection today?\" \/>\n<meta property=\"og:description\" content=\"Reports show that many regulated professionals wouldn&#039;t. So what do you need to do to get AML-inspection ready? 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