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Trying to understand the AML process!

  • 1 post
  • # 118213

Hello all!

I have joined this great forum to find more information of AML process. As I am not 100% familiar with accountancy in UK, I am still struggling to fully understand it.

As I have understood AML check is the first step before taking on a new client but what documents exactly need to be filled and by who and where? It is a bit overwhelming to find all the answers and understand the process. Undecided

 

I would appeciate your help to guide me on my way. 


Thank you all!

 

Maile 

  • Member
  • Practice Licence
  • 5 posts
  • # 118215

Maileroo said:

Hello all!

I have joined this great forum to find more information of AML process. As I am not 100% familiar with accountancy in UK, I am still struggling to fully understand it.

As I have understood AML check is the first step before taking on a new client but what documents exactly need to be filled and by who and where? It is a bit overwhelming to find all the answers and understand the process. Undecided

 

I would appeciate your help to guide me on my way. 


Thank you all!

 

Maile 


Hello Maile,

 

if you look on the ICB website, click on "Resources", click on "Running a Practice" half way down the page is a link Money Laundering Regulations resources.

 

This will tell you exactly what you need to know and do. Failing that call ICB and ask to speak to someone about it. It is really important to get this right but at the same time it is nothing to be scared of either. All ICB want is for you to get it right and they are more than willing to assist you and point you in the right direction.

  • Member
  • Practice Licence
  • 5 posts
  • # 118216

Sue Bruland said:

Maileroo said:

Hello all!

I have joined this great forum to find more information of AML process. As I am not 100% familiar with accountancy in UK, I am still struggling to fully understand it.

As I have understood AML check is the first step before taking on a new client but what documents exactly need to be filled and by who and where? It is a bit overwhelming to find all the answers and understand the process. Undecided

 

I would appeciate your help to guide me on my way. 


Thank you all!

 

Maile 


Hello Maile,

 

If you look on the ICB website, click on "Resources", click on "Running a Practice" half way down the page is a link Money Laundering Regulations resources.

 

This will tell you exactly what you need to know and do. Failing that call ICB and ask to speak to someone about it. It is really important to get this right but at the same time it is nothing to be scared of either. All ICB want is for you to get it right and they are more than willing to assist you and point you in the right direction.


 

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