Reporting of material discrepancies of Companies House records

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
• Economic Crime Levy
• OPBAS Sourcebook
• How the 2017 Money Laundering Regulations have evolved
• ISS AML training
• OFSI webinar

Members should be aware of changes to Discrepancy Reporting. from 1 April 2023, in line with the 2022 Money Laundering and Terrorist Financing (Amendment) (No.2) Regulations, there will be an ongoing reporting requirement to flag up any material discrepancies in the Companies House records for a Person with Significant Control (PSC). You are required to retain records of appropriate searches and submissions. The changes will impact on the level of Customer Due Diligence and the associated policies and staff training.