IPA Insolvency Practitioner newsletter AML Digest, April 2023
- David Holland, Chief Inspector and IPA Money Laundering Reporting Officer
- High-risk countries for money laundering purposes: Enhanced Due Diligence
- Proliferation Financing
- Ongoing monitoring of AML matters in an appointment
- SAR reporting
- Licences from OFSI
- Insolvency Practitioner identity fraud and scam websites
- Reporting misuse of bounce back loans
- NCA Amber Alert: High Net Worth Individuals and Tax Evasion (member login required to view)
- AASG alerts (member login required to view)
- Regulation 18 risk assessment reviews
- Reporting of material discrepancies of Companies House records
- Economic Crime Levy
- OPBAS Sourcebook
- How the 2017 Money Laundering Regulations have evolved
- ISS AML training
OFSI is the ‘Office of Financial Sanctions Implementation’ and is responsible for ensuring that financial sanctions are properly understood, implemented and enforced in the UK.
With the ongoing war in Ukraine, sanctions against Russian and Belarussian entities is constantly changing and it is important that IPs are aware of OFSI and its work.
On 28 February 2023, OFSI provided a free webinar which provided an overview of its work and covered important areas such as OFSI licensing and enforcement of sanction breaches. The webinar is available until 10 May 2023 and can be viewed here.