NCA issues new AML alerts for accountancy sector

ICB advises bookkeepers to review latest intelligence on sanctions evasion risks linked to gold and the art storage sector.

The National Crime Agency (NCA) has issued two new intelligence-led anti-money laundering (AML) alerts for the accountancy sector. These alerts are designed to help practitioners identify emerging risks and recognise indicators of suspicious activity.

The alerts focus on two key areas:

• Gold-based financial and trade sanctions circumvention – outlining how sanctioned individuals, entities and their enablers may attempt to evade restrictions linked to gold.
• Sanctions evasion, money laundering and cultural property trafficking through the art storage sector – highlighting risks associated with industries connected to art storage, and reinforcing the importance of due diligence and reporting obligations.

ICB advises that all bookkeepers read these risk profiles carefully. Even if you have not encountered these risks directly, the AML landscape continues to evolve. Bookkeepers are increasingly required to recognise unfamiliar patterns of behaviour, so maintaining awareness of emerging threats is essential.

You are also advised to review the NCA’s guidance on money laundering and illicit finance, which includes updates on Suspicious Activity Reporting and wider intelligence relevant to the profession.

ICB would be grateful for any feedback on the usefulness of this intelligence. Any comments will be treated in the strictest confidence and can be sent to professionalstandards@bookkeeper.org.uk.