{"id":27990,"date":"2025-09-05T11:19:45","date_gmt":"2025-09-05T10:19:45","guid":{"rendered":"https:\/\/figsflow.com\/uk\/?p=27990"},"modified":"2025-12-16T11:56:32","modified_gmt":"2025-12-16T10:56:32","slug":"aml-red-flags-accountants","status":"publish","type":"post","link":"https:\/\/figsflow.com\/uk\/aml-red-flags-accountants\/","title":{"rendered":"Top 5 Red Flags Accountants Should Watch for in AML Screening\u00a0\u00a0"},"content":{"rendered":"\t\t
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HMRC’s AML fines<\/strong> have surged by a staggering <\/span>177%<\/span><\/b> over the past four years. This sharp increase shows that <\/span>UK regulators are cracking down harder than ever on money laundering. Making it vital for accountants to spot early AML red flags<\/strong> and address potential risks before they escalate.<\/span><\/p>

That said, it\u2019s not possible for accountants to dig into every single detail regarding the client they are seeking to work with. So, there\u2019s always a risk of something slipping through and if it does, the consequences can be severe.\u00a0<\/span>\u00a0<\/span><\/p>

Does this mean accountants are at a dead end or is there a way to spot warning signs early and manage risk effectively?\u00a0<\/span>\u00a0<\/span><\/p>

Utilising their years of experience in onboarding clients and running AML checks, FigsFlow\u2019s team has prepared this list of <\/span>five aml red flags <\/span><\/b>that accountants should keep an eye out for.<\/span> .\u00a0<\/span>\u00a0<\/span><\/p>

We\u2019ve also included a <\/span>bonus tip<\/span><\/b> at the end of this article to help you get automatic alerts when one of these red flag appears.<\/span>\u00a0<\/span><\/p>

Sounds good? Let\u2019s dive in.<\/span>\u00a0<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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What is AML Screening & Why Do AML Red Flags Matter?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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AML screening is the process accountants use to verify client identities<\/a> and assess money laundering risks before establishing a business relationship. It’s a legal requirement under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017.<\/p>

During AML screening, identifying AML red flags early is crucial. These red flags are warning signs that indicate a client may pose a higher risk of money laundering or financial crime. Spotting these indicators helps you decide whether to proceed with onboarding, conduct enhanced due diligence<\/a>, or decline the engagement.<\/p>

AML screening typically involves:<\/p>