Anti-Money Laundering case studies
Other articles (Insolvency Practitioner, June 2021):
- Michelle Thorp, CEO
- Kevin Hellard, President
- Personal insolvency: New Debt Relief Order rules
- Payment for the introduction of an insolvency appointment is prohibited – a reminder
- Business support measures extended
- Anti-Money Laundering high-risk indicators
- Updates to Suspicious Activity Reports glossary codes
- National Crime Agency releases National Strategic Assessment of Serious and Organised Crime
- New members sought: Anti-Money Laundering sub-Committee of the Standards, Ethics and Regulatory Liaison Committee
- HMRC updates
- Evaluators and Pre-Packs: What’s new?
- Case law update
- IPA joins the Money Advice Liaison Group as a National Member
- It’s not just the IPA who is 60 this year!
- Meet a Committee member: Clare Lindley, member of the Standards, Ethics and Regulatory Liaison Committee
We have published a series of anonymised case studies that are examples of non-compliance with the 2017 Money Laundering Regulations by members, which did not result in a penalty (financial or non-financial) being levied against a member.
These examples arose either from inspection visits or complaints, where the issue was dealt with via an Advisory Notice, requiring a member to take remedial action to correct, amend or update an Anti-Money Laundering (AML) policy or procedure. These examples also arose from matters considered by the IPA’s Regulation & Conduct Committee (R&CC) where the R&CC considered that no penalty should be imposed.
These case studies show you the many reasons why strong AML practice is critical in your work. They can be found on our new enforcement notices page, here.