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Regulation 18/18A – Firm-Wide Risk Assessment Dip Sample reviews

IPA Insolvency Practitioner newsletter AML Digest, May 2024 As previously advised in the February IPA newsletter, the IPA carries out a random dip sample of approx. 10% of our supervised…

New SARs Reporter Booklet

IPA Insolvency Practitioner newsletter AML Digest, May 2024 The latest SAR Reporters Booklet has been published by the NCA. The Booklet has some useful reminders of the use of Glossary Codes,…

HM Treasury Advisory Notice: New high risk third countries

IPA Insolvency Practitioner newsletter AML Digest, May 2024 A new group of countries are now deemed as high risk in relation to AML and have been added to schedule 3ZA…

SIP 2 investigations into Covid support scheme abuse and SARs reporting

IPA Insolvency Practitioner newsletter AML Digest, May 2024 Members may recall articles in the February 2023 newsletter and April 2023 AML newsletter on reporting the misuse of Bounce Back Loans…

Regulation 18/18A MLR checks

IPA Insolvency Practitioner newsletter AML Digest, May 2024 As part of our role an as AML Supervisor, the IPA carries out each year a dip sample of our supervised members…

New OFSI General Licence and licence amendment

IPA Insolvency Practitioner newsletter AML Digest, May 2024 On 29 February 2024, the Office of Financial Sanctions Implementation (OFSI) issued a new General Licence (INT/2024/4398024 – Court Funds Office Payments).…

HM Treasury consultation on improving the effectiveness of the money laundering regulations

IPA Insolvency Practitioner newsletter AML Digest, May 2024 HM Treasury has launched a consultation on improving the effectiveness of the Money Laundering Regulations (MLRs), covering a range of topics identified…

New OFSI financial sanctions enforcement/monetary penalties guidance and FAQs

IPA Insolvency Practitioner newsletter AML Digest, May 2024 The Office of Financial Sanctions Implementation (OFSI) is the authority for financial sanctions implementation in the UK. Members will be aware that…

Stuart Jary, IPA Inspector and Deputy AML Single Point of Contact

IPA Insolvency Practitioner newsletter AML Digest, May 2024 Welcome to the fifth edition of the IPA’s AML Digest. It has been a busy start to the year for the IPA…

An opportunity for Registered Property Receivers!

IPA Insolvency Practitioner newsletter, May 2024 IPA members have the opportunity to be featured in the RICS Property Journal to promote the Registered Property Receivers (RPR) scheme. If you have…