Create a Money Laundering Policy For Your Practice

Every sole practitioner needs to adhere to anti-money laundering regulations but putting together an AML Policy can be a pain. This uniquely designed course gives you the AML Practice Policy, Processes and Forms that ensures you’re compliant!

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Course curriculum

1. Sole Prac CPD Explained
1. Introduction
2. Who this course if for
3. MLTPF Explained
4. Research Undertaken
5. Recommended Reading
6. What is in scope?
7. Money Laundering advice specific for Sole Practitioners from the Professional Bodies
8. The responsibility of a sole practitioner
9. Inconsistent practice assurance review outputs
10. Accounting is historical
11. GDPR v ML v Tipping Off
12. Knowing Our Clients
13. Task
1. Introduction
2. A Crime or Proceeds of Crime
3. What is terrorism?
4. Property defined
5. What is a Primary Offence
6. Failure to Report Offence
7. Tipping Off Offence
8. Prejudicing an Investigation offence
9. Proliferation Financing (PF) Definition
10. General Guidance
11. Task
1. Introduction
2. Beneficial Owners, Officers and Managers (BOOMs)
3. Who is a BOOM?
4. Policies, procedures and controls required
5. Risk of proliferation financing
6. Annual Client Review
7. Task
1. Introduction
2. Practicalities
3. Assessing Risk
4. Service Provision
5. Specific Target clients
6. Clients to avoid
7. Client Products and Service Provision by Sole Practitioners
8. Client business structure and geographical location
9. Delivery Channel
10. Existing clients
11. Client acquisition
12. Overall Risk Profile
13. Future Changes
14. Task
1. Introduction
2. Undertaking customer due diligence
3. Application of customer due diligence
4. Simplified due diligence
5. EDD, PEPs, financial sanctions and other prohibited relationships
6. Reliance on third parties
7. Third party supplier
8. Evidence gathering
9. If CDD cannot be undertaken
10. Cessation of work and suspicious activity reporting
11. Discrepancies in the People with Significant Control Register
12. Reporting a discrepancy
13. What is a material discrepancy?
14. When should a material discrepancy be reported?
15. Material discrepancy and a SAR
16. Practical application
17. How to report a material discrepancy
18. Task
1. Introduction
2. What is a suspicion?
3. Tipping Off Risks
4. Prejudicing an Investigation
5. Confidentiality
6. Documentation
7. What happens after a SAR has been made?
8. The Client Relationship
9. Data Protection
10. Requests arising from a change of professional adviser (professional enquiries)
11. Other requests for information
12. Reporting to other bodies
13. Task
1. Record Keeping
2. Training and Awareness
3. Task
1. Introduction
2. Pre-Sales Process
3. Client Acquisition and Onboarding Process
4. Annual Review including existing client review for new legislation
5. Processes and Forms Appendices
6. Pre-Sales Qualification Checklist
7. Client Onboarding Checklist
8. Client Information Form
9. Annual Review Checklist
10. Task
1. Your CPD Log Information

About this course

£50.00
91 lessons
0 hours of video content

Create a Money Laundering Policy For Your Practice

Course curriculum

How our courses work

Money Laundering Policy Introduction

Defining Money Laundering and Terrorist Financing (MLTF)

The responsibilities of MLTPF for a Sole Practitioner

Risk based approach for Sole Practitioners

Customer Due Diligence

Suspicious Activity Reporting

Record Keeping and Training

Processes and Forms

Verifiable CPD

About this course