Anti Money Laundering for the UK Accounting Sector
What you'll learn
- The AML rules and regulations in the UK environment - specifically how it impacts those who work in the accountancy sector
- The signs of money laundering
- How to report your suspicion of money laundering
- The role of the Nominated Officer within anti-money laundering and what relevant staff need to know
Requirements
- There are no requirements, other than to just want to understand how AML regulations relate to the finance industry in the UK
Description
This course is split into two parts and is aimed at individuals working with the accountancy sector who need to have an awareness of what is required of them to work and operate when it comes to the rules and regulations surrounding anti-money laundering. The first part is for all relevant staff who need to know what their obligations are when it comes to AML and how to spot the signs of money laundering and what to do in those circumstances. The second part is aimed at the Nominated Officer (NO) - who is the dedicated person responsible for implementing and overseeing anti-laundering within the business. If individuals are sole traders - then they are (by default) the NO. Some businesses will outsource this role and there is a market for individuals to offer AML compliance as a service.
The NO has a legal duty to train their relevant staff in what to look out for when it comes to anti money laundering and to record the training dates. This course is ideal for both. It can be taken repeatedly, referred to at leisure and its a simple, cost effective way to become aware of your duties and legal obligations. The UK and EU governments are taking AML very seriously and there are penalties and sanctions for non-compliance.
Your course tutor is AAT qualified and has a first class honours degree in Accounting with Marketing and an MSc in Investment Management. Lisa is the NO in her own company which is regulated by the HMRC and she has had direct experience of implementing procedures, and also audit checks on these procedures by different institutions who at different points of her career were the AML supervisory body for the business she was running.
This course includes checklists and templates and where/how to implement AML procedures for compliance.
This course is specifically for the UK market, particularly using examples which are relevant to those within the accountancy sector. However, casinos, money transfer agents, financial services, estate agents, solicitors - are all industries / professions that need to be aware of AML regulations and to comply (and show compliance if spot-checked), so this course can be of use to those people too.
Who this course is for:
- Bookkeepers, Accountants, Payroll bureaus and others who have to know and adhere to AML rules
Course content
- Preview02:28
- Preview00:59
- Preview04:22
- Preview06:45
- 07:49Breaking Bad
- 2 questionsQuick Quiz
- 05:52Why do I have to do this?
- 1 questionQuick quiz
- 02:13What do HMRC do?
- 02:18Role of the Nominated Officer
- 13:35Recognising suspicious activity
- 06:24Reporting suspicious activity
- 3 questionsQuick Quiz
- 15:03The requirements when it comes to AML
- 01:52Non compliance
- 3 questionsQuick Quiz
- 05:20Flag it up
- 09:50How can it be done?
- 2 questionsQuick Quiz
- 05:45How big is the problem?
- 01:28Red flags
- 04:37Warning signs
- 01:36Recap of part 1
- 3 questionsQuick Quiz
Instructor
![Lisa Newton](data:image/svg+xml,%3Csvg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 64 64"%3E%3C/svg%3E){kind=avatar}
- 3.9 Instructor Rating
- 2,910 Reviews
- 16,826 Students
- 80 Courses
Lisa Newton BA MSc AAT has a masters degree in Investment Management and a first class honours degree in Accounting with Marketing. She formed her first company in 2004 with £150 in the same month of graduating from City University, London UK. Lisa has never had a full time 9 to 5 job in her life. She's a serial entrepreneur and author who holds directorships in various industries including telecoms, property management, publishing, hair & beauty as well as finance. She has won various awards in Business including: Young Entrepreneur of the Year Award 2007, in 2008 Enterprising Business Award, in 2016 BE Mogul Award and has been nominated and shortlisted in numerous others. In 2011 and in 2012 one of her companies won Best Accounting Franchisor Award. In 2015 and 2017 one of her companies won Best Bookkeeping Business London (Accountancy International Awards).
Lisa's books include: How to write a book in two weeks, Constant Cashflow, Make the most of your money, How to start your own bookkeeping business, Cosmic ordering with Vision Boards, How to Franchise Your Business and Quickbooks Online The Handbook. Some of the books are in audio-format on itunes and audible.
Lisa hosts her own show The Authors Podcast which can be found on the iTunes channel.
Lisa supports the charity The MS Society. A speaker, coach, consultant and an avid networker, Lisa enjoys meeting people and working on projects with like-minded individuals.
In her spare time, Lisa likes traveling, dancing salsa, writing books, learning languages, meditation, yoga and cosmic ordering.