First fee adjustment in six years sees HMRC increase anti-money laundering supervision charges for 37,000 UK businesses despite consultation concerns.
One missed SAR could cost your firm everything, learn to identify the red flags before they become compliance failures.
The tension between keeping AML records for compliance and destroying them for data protection creates a legal minefield that most firms navigate incorrectly.
The FCA, HMRC, and professional bodies all have statutory powers to supervise and penalise firms for AML failures under MLR 2017.
Every regulated firm must report suspicious transactions to the NCA. Understanding when reasonable grounds exist could save you from prosecution.
Explore the essential CDD requirements under MLR 2017, from risk-based assessments to ongoing monitoring, and learn how upcoming 2025 reforms will streamline compliance.
You think checking the PSC register is enough. HMRC expects three more steps after that.
It’s not for the reason you’d expect. The real driver behind the switch might surprise you.
Discover the smart way to automate letters while staying fully compliant and audit-ready.
HMRC supervision visits expose the fatal flaw in manual AML checks: scattered documentation that takes hours to compile when you have minutes to respond.
Passport filed. Client onboarded. HMRC asks for verification evidence. You can’t show them. But FigsFlow Can.
Most accounting firms make the same five ID verification mistakes without realizing it.