Keeping appropriate records is extremely important for potential investigations. It also provides satisfactory evidence in relation to any allegation of failing to identify suspicious activities or breaching industry guidelines.
The Money Laundering Regulati...
Shortened demo course. See details at foot of page.
...ersonal data for longer periods on the basis that they could be required in order to formulate a legal defence. As such advisory firms may well keep records longer than the prescribed five years. Security of this data is also important and should be considered.
Any customer under suspicion in connection with money laundering will be inv...
Shortened demo course. See details at foot of page.
...e funds
How the instruction and authority were given, and in what form
The FCA place particular emphasis on training in all areas where competency is required and the Money Laundering Regulations stipulate that registered organisations must take appropriate measures to ensure that all relevant employees are:
Made aware of the law relating to money laundering and terrorist finan...
Shortened demo course. See details at foot of page.
...k the identity and address of a client?
Who should you tell if you suspect money laundering or tax evasion?
What parameters are acceptable in your company’s anti-bribery policy?
Who do you report to if you have suspicions of corruption?
What is the Financial Sanctions list?
Who is a PEP?
