Independent Money Laundering Audits for Accountants, Estate Agents, Financial Services and other regulated businesses
The regulators are serious about AML and many firms are not compliant. Don’t get caught out.
Why you need to do it
An independent audit function is a requirement of Regulation 21 of the Money Laundering Regulations 2017. Quite simply, if you get anti-money laundering compliance wrong you could commit an offence. Business owners have gone to prison. Fines can be imposed for failures, and the regulators are taking a tough line on firms in breach. As dedicated compliance professionals, we can guarantee expertise and full independence.
Doing it yourself
You can do a Regulation 21 independent audit ‘in house’, and do not have to get external advice. The audit must be carried out by someone who is not policy-writer, but who has a deep understanding of the Money Laundering Regulations. Our free comprehensive ‘DIY’ template is available to download to get you started. Do take care not to become overly reliant on templates, which the regulators see as a risk.
FILL OUT THE BELOW TO REQUEST YOUR KIT
Why doing it yourself is difficult
- Auditing is very time consuming which eats into your earning capacity and income streams. Your time might be better spent elsewhere in the business.
- Even with the best of intentions, auditing projects often get put to the bottom of the priority pile.
- It is also notoriously hard to find someone internally who is not ‘marking their own work’.
- The stakes could not be higher. Keeping the audit could be a false economy.