David Holland, IPA Chief Inspector and Money Laundering Reporting Officer

IPA Insolvency Practitioner newsletter AML Digest, December 2024

Nearly 200 delegates joined us at the second IPA Spotlight on AML and Fraud Conference in Birmingham in September. Speakers covered a range of subjects from Companies House and HMRC reforms to dealing with individuals who have been subject to loan sharks, how dealing with sanctions impacts on cases and how to protect your IT systems from hackers.

With this year’s conference selling out, next year’s AML and Fraud Conference on 25 September 2025 will be held at a new venue that can accommodate everyone who wishes to attend. AML will also continue to be part of all of our roadshows and conferences. AML remains a key part of IPs’ compliance work and the IPA will continue to provide guidance and information to assist members in having effective policies and procedures.

The 2023/24 AML Annual Report was published in November and further details are provided in this digest. I would like to thank the IPA’s AML Committee for their assistance in putting together the content and the IPA’s membership team whose work formatting and proof-reading the content led to a successful publication. In one week, the report was downloaded from the IPA’s website 183 times. I would urge anyone in insolvency to read the report as it is the only AML Supervisor report that looks specifically at matters that affect IPs.

This edition of the newsletter focuses on due diligence issues and ends with a summary of the general supervisory focus and risks for 2025. Please make sure you are satisfied that you and your firm are covering all these requirements.