New CCAB AML Guidance for the Accountancy Sector - Is Your House in Order?

Introduction

When the Money Laundering Regulations 2017 came into force, the CCAB released their guidance for the regulations for the accountancy profession to follow. The MLR2017 were updated on the 10 July 2020 by the fifth money laundering directive (5MLD) and the supervisory bodies, including the CCAB, decided to update and overhaul their earlier guidance. But did you know that the guidance has been updated again? The NEW Anti- Money Laundering, Counter Terrorist and Counter Proliferation Financing Guidance for the Accountancy Sector was released on 3 June 2023.

So how up to date are you with the guidance? The latest version includes proliferation financing. Have you built all of the changes into your firm wide risk assessment, policies and procedures? Have your staff been trained on the changes? You have to consider all the things you ‘must’ do under the guidance.

This virtual classroom seminar will give you a valuable insight into the most recent updates and changes in the guidance.

What You Will Learn

This live and interactive session will cover the following:

• The National Risk Assessment (NRA) - the risks for the accountancy sectors
• The AASG Risk Outlook - looking at key risks relevant to the accountancy sector
• The ICAEW Annual AML Report - key findings from visits
• Key points in the CCAB guidance including:
• The fundamentals of money laundering and terrorist financing
• Responsibility and oversight
• Taking the risk-based approach
• Customer Due Diligence including Enhanced and Simplified Due Diligence
• Suspicious Activity Reporting
• Record keeping
• Training and awareness

Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.