OPBAS Sourcebook

IPA Insolvency Practitioner newsletter AML Digest, April 2023

Contents

• 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
• How the 2017 Money Laundering Regulations have evolved
• ISS AML training
• OFSI webinar

OPBAS is the oversight regulator for all AML Supervisory Authorities. OPBAS have just updated and published their Sourcebook. The Sourcebook provides details on what is expected by OPBAS from AML Supervisory Authorities to evidence compliance with the obligations of an AML Supervisor under MLR17.

The IPA would recommend that your MLRO and any compliance officer are aware of the scope of the Sourcebook which will assist in understanding further the regulatory requirements of the IPA (and other authorities) in supervising AML compliance and therefore assist in ensuring that you are able to evidence compliance with the requirements of the Regulations.