{"id":30584,"date":"2025-11-04T12:05:15","date_gmt":"2025-11-04T11:05:15","guid":{"rendered":"https:\/\/figsflow.com\/uk\/?p=30584"},"modified":"2025-12-16T11:56:07","modified_gmt":"2025-12-16T10:56:07","slug":"aml-meaning-a-simple-explanation-for-accountants","status":"publish","type":"post","link":"https:\/\/figsflow.com\/uk\/aml-meaning-a-simple-explanation-for-accountants\/","title":{"rendered":"AML Meaning: A Simple Explanation for Accountants\u00a0"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"30584\" class=\"elementor elementor-30584\" data-elementor-settings=\"{&quot;element_pack_global_tooltip_width&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;element_pack_global_tooltip_width_tablet&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;element_pack_global_tooltip_width_mobile&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;element_pack_global_tooltip_padding&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;top&quot;:&quot;&quot;,&quot;right&quot;:&quot;&quot;,&quot;bottom&quot;:&quot;&quot;,&quot;left&quot;:&quot;&quot;,&quot;isLinked&quot;:true},&quot;element_pack_global_tooltip_padding_tablet&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;top&quot;:&quot;&quot;,&quot;right&quot;:&quot;&quot;,&quot;bottom&quot;:&quot;&quot;,&quot;left&quot;:&quot;&quot;,&quot;isLinked&quot;:true},&quot;element_pack_global_tooltip_padding_mobile&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;top&quot;:&quot;&quot;,&quot;right&quot;:&quot;&quot;,&quot;bottom&quot;:&quot;&quot;,&quot;left&quot;:&quot;&quot;,&quot;isLinked&quot;:true},&quot;element_pack_global_tooltip_border_radius&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;top&quot;:&quot;&quot;,&quot;right&quot;:&quot;&quot;,&quot;bottom&quot;:&quot;&quot;,&quot;left&quot;:&quot;&quot;,&quot;isLinked&quot;:true},&quot;element_pack_global_tooltip_border_radius_tablet&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;top&quot;:&quot;&quot;,&quot;right&quot;:&quot;&quot;,&quot;bottom&quot;:&quot;&quot;,&quot;left&quot;:&quot;&quot;,&quot;isLinked&quot;:true},&quot;element_pack_global_tooltip_border_radius_mobile&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;top&quot;:&quot;&quot;,&quot;right&quot;:&quot;&quot;,&quot;bottom&quot;:&quot;&quot;,&quot;left&quot;:&quot;&quot;,&quot;isLinked&quot;:true}}\" data-elementor-post-type=\"post\">\n\t\t\t\t<div class=\"elementor-element elementor-element-b6d3c56 e-flex e-con-boxed e-con e-parent\" data-id=\"b6d3c56\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-8d13e9e elementor-widget elementor-widget-text-editor\" data-id=\"8d13e9e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span data-contrast=\"auto\">You&#8217;re three months into working with a property client. Turnover looks good, margins are healthy, they pay on time. Then you notice something odd in the bank statements. Multiple round-sum transfers to offshore accounts. Cash deposits that don&#8217;t match the rent roll. A lifestyle that doesn&#8217;t fit the declared income.<\/span><span data-ccp-props=\"{&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">You know something&#8217;s wrong. But here&#8217;s the question: do you know what you&#8217;re legally required to do about it? Not what feels right or what seems sensible. What the law actually requires.<\/span><span data-ccp-props=\"{&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">That&#8217;s where most accountants get unstuck. Not understanding what AML is, but knowing exactly what to do when they spot it. This guide covers what AML means in practice, what the regulations actually require, and how to build compliance that works without drowning in paperwork.<\/span><span data-ccp-props=\"{&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f73a577 elementor-widget elementor-widget-text-editor\" data-id=\"f73a577\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h2 aria-level=\"2\"><span data-contrast=\"none\">Key Points Summarised for Busy Readers<\/span><span data-ccp-props=\"{&quot;134245418&quot;:true,&quot;134245529&quot;:true,&quot;335559738&quot;:160,&quot;335559739&quot;:80}\">\u00a0<\/span><\/h2><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"4\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"auto\">AML stands for Anti-Money Laundering, the legal framework preventing criminals from legitimising illegal funds through professional services<\/span><span data-ccp-props=\"{&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"4\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"2\" data-aria-level=\"1\"><span data-contrast=\"auto\">Money Laundering Regulations 2017 requires all UK accountants providing regulated services to comply, regardless of practice size<\/span><span data-ccp-props=\"{&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"4\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"3\" data-aria-level=\"1\"><span data-contrast=\"auto\">Five core obligations: customer due diligence, risk assessment, ongoing monitoring, suspicious activity reporting, and record keeping<\/span><span data-ccp-props=\"{&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"4\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"4\" data-aria-level=\"1\"><span data-contrast=\"auto\">Non-compliance carries unlimited fines, up to 14 years imprisonment for facilitation, and practice closure<\/span><span data-ccp-props=\"{&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"4\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"5\" data-aria-level=\"1\"><span data-contrast=\"auto\">Criminals specifically target accountants because you provide credibility and access to the financial system<\/span><span data-ccp-props=\"{&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"4\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"6\" data-aria-level=\"1\"><span data-contrast=\"auto\">Proper AML compliance integrates with normal service delivery rather than existing as separate bureaucracy<\/span><span data-ccp-props=\"{&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-32c96ec elementor-align-justify elementor-widget elementor-widget-button\" data-id=\"32c96ec\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/figsflow.com\/uk\/aml-software-for-accountants\/\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Don't Risk Non-Compliance. See How FigsFlow Can Help<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-811948e elementor-widget elementor-widget-heading\" data-id=\"811948e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">What Does AML Actually Mean? <\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-148b751 elementor-widget elementor-widget-text-editor\" data-id=\"148b751\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span data-contrast=\"auto\">AML stands for Anti-Money Laundering. It&#8217;s the regulatory framework designed to prevent criminals from disguising the origins of illegally obtained money.\u00a0<\/span><span data-ccp-props=\"{&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Money laundering operates in three stages:\u00a0<\/span><span data-ccp-props=\"{&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"3\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"auto\">placement (getting illegal cash into the financial system)\u00a0<\/span><span data-ccp-props=\"{&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"3\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"2\" data-aria-level=\"1\"><span data-contrast=\"auto\">layering (moving it around to obscure the source)<\/span><span data-ccp-props=\"{&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"3\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"3\" data-aria-level=\"1\"><span data-contrast=\"auto\">Integration (making it appear legitimate for open use)<\/span><span data-ccp-props=\"{&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/li><\/ul><p><span data-contrast=\"auto\">Your role as an accountant makes you a primary target. Criminals need professionals with credibility to legitimise their funds. You handle money, prepare accounts, form companies, and provide the veneer of respectability that criminals can&#8217;t manufacture themselves. A property portfolio looks legitimate when a chartered accountant prepares the accounts. The same portfolio raises immediate suspicion when the owner files their own returns with obvious inconsistencies.<\/span><span data-ccp-props=\"{&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">The regulations exist because money laundering funds serious organised crime. Drug trafficking, human trafficking, terrorism, large-scale fraud. When accountants unknowingly (or worse, knowingly) help clean this money, they enable the underlying crimes to continue and expand. The \u00a3100 million you help legitimise funds the next operation. That&#8217;s why penalties are severe and why &#8220;I didn&#8217;t know&#8221; isn&#8217;t a defence if proper procedures would have revealed the issue.<\/span><span data-ccp-props=\"{&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-acc3fd9 elementor-widget elementor-widget-text-editor\" data-id=\"acc3fd9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><b><span data-contrast=\"auto\">\ud83d\udcda Need the complete regulatory framework?<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">AML sits within a broader compliance landscape. For comprehensive coverage of all AML and identity verification requirements, read our <\/span><a href=\"https:\/\/figsflow.com\/uk\/2025-guide-to-aml-identity-verification-rules-for-accountants\/\" target=\"_blank\" rel=\"noopener\"><span data-contrast=\"none\">2025 Guide to AML &amp; Identity Verification Rules for Accountants<\/span><\/a><span data-contrast=\"auto\">.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-76099ed elementor-widget elementor-widget-heading\" data-id=\"76099ed\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">AML Regulations: What the Law Actually Requires <\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-79c1581 elementor-widget elementor-widget-text-editor\" data-id=\"79c1581\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><a href=\"https:\/\/www.legislation.gov.uk\/uksi\/2017\/692\/contents\" target=\"_blank\" rel=\"noopener\"><span data-contrast=\"none\">Money Laundering Regulations 2017<\/span><\/a><span data-contrast=\"auto\"> governs AML compliance for UK accountants. It&#8217;s not guidance or best practice recommendations. It&#8217;s law with criminal penalties for breach.<\/span><span data-ccp-props=\"{&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">The regulations apply when you provide specific services. These include:<\/span><span data-ccp-props=\"{&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"auto\">Audit and assurance services<\/span><span data-ccp-props=\"{&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"2\" data-aria-level=\"1\"><span data-contrast=\"auto\">Tax advisory, accountants preparation and bookkeeping<\/span><span data-ccp-props=\"{&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"3\" data-aria-level=\"1\"><span data-contrast=\"auto\">Forming companies or setting up trusts<\/span><span data-ccp-props=\"{&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"4\" data-aria-level=\"1\"><span data-contrast=\"auto\">Buying or selling businesses or property on behalf of clients<\/span><span data-ccp-props=\"{&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"5\" data-aria-level=\"1\"><span data-contrast=\"auto\">Managing client money or assets\u00a0<\/span><span data-ccp-props=\"{&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/li><\/ul><p><span data-contrast=\"auto\">HMRC supervises most accountants for AML compliance, though professional bodies (ICAEW, ACCA, CIOT, ATT) supervise their members. They conduct inspections, investigate complaints, and impose penalties. You must register with your supervisor and pay annual fees. Operating without registration is itself an offense.<\/span><span data-ccp-props=\"{&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p><p><b><span data-contrast=\"auto\">Your five core obligations under MLR 2017:<\/span><\/b><span data-ccp-props=\"{&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"1\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Customer Due Diligence (CDD):<\/span><\/b> <a href=\"https:\/\/figsflow.com\/uk\/acsp-how-can-accountants-prove-verify-clients-identity\/\"><span data-contrast=\"none\">Verify client identity<\/span><\/a><span data-contrast=\"auto\"> and understand their business before providing services. This means obtaining and verifying documents proving identity and address, understanding the nature and purpose of the business relationship, and identifying beneficial owners where relevant.<\/span><span data-ccp-props=\"{&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"2\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Risk Assessment:<\/span><\/b><span data-contrast=\"auto\"> Conduct firm-wide and client-level risk assessments to determine money laundering exposure. Document your methodology, classify each client by risk level, and apply proportionate measures based on that classification.<\/span><span data-ccp-props=\"{&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"3\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Ongoing Monitoring:<\/span><\/b><span data-contrast=\"auto\"> Scrutinise client transactions throughout the relationship to detect unusual or suspicious activity. Frequency depends on risk level but must occur for all clients with reviews documented systematically.<\/span><span data-ccp-props=\"{&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"4\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Suspicious Activity Reporting (SAR):<\/span><\/b><span data-contrast=\"auto\"> File reports with the National Crime Agency when you know or suspect money laundering or terrorist financing. The threshold is &#8220;knowledge or suspicion,&#8221; not certainty. Failing to report when you should have is a criminal offense.<\/span><span data-ccp-props=\"{&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"5\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Record Keeping:<\/span><\/b><span data-contrast=\"auto\"> Maintain documentation of due diligence, risk assessments, monitoring, and decisions for at least five years. HMRC&#8217;s position is simple: if it&#8217;s not documented, it didn&#8217;t happen.<\/span><span data-ccp-props=\"{&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-df5cff6 elementor-widget elementor-widget-text-editor\" data-id=\"df5cff6\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><b><span data-contrast=\"auto\">\ud83d\udccb Want the comprehensive list of AML rules?<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">These five core obligations form the foundation. For the complete breakdown of all AML rules accountants must follow in 2025, see our <\/span><a href=\"https:\/\/figsflow.com\/uk\/list-of-2025-aml-rules-for-accountants-in-the-uk\/\" target=\"_blank\" rel=\"noopener\"><span data-contrast=\"none\">List of 2025 AML Rules for Accountants in the UK.<\/span><\/a><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d55a4bd elementor-widget elementor-widget-heading\" data-id=\"d55a4bd\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">What AML Compliance Actually Looks Like in Practice <\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8e74d8a elementor-widget elementor-widget-text-editor\" data-id=\"8e74d8a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span data-contrast=\"auto\">Consider Sarah, a sole practitioner taking on James, a new client running a property development business. James approaches Sarah needing accounts prepared for three limited companies holding 15 properties between them. Standard work, decent fees.<\/span><span data-ccp-props=\"{&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p><p><b><span data-contrast=\"auto\">Before Taking James On<\/span><\/b><span data-ccp-props=\"{&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Sarah can&#8217;t just send an <\/span><a href=\"https:\/\/figsflow.com\/uk\/engagement-letter-vs-letter-of-intent-whats-the-difference-why-it-matters-for-accountants\/\" target=\"_blank\" rel=\"noopener\"><span data-contrast=\"none\">engagement letter<\/span><\/a><span data-contrast=\"auto\"> and start work. She requests James&#8217;s passport and utility bill, verifies them in person, and checks he&#8217;s listed on Companies House as director. She screens him against PEP and sanctions databases.<\/span><span data-ccp-props=\"{&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Then she asks questions. Where did the property deposit money come from? How does he fund developments? What&#8217;s his business model? She documents everything because these answers become her monitoring baseline.<\/span><span data-ccp-props=\"{&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">She assesses the risk. Property development, multiple companies, cash involved. She verifies the properties exist and checks planning applications. Everything checks out. She classifies him standard-risk and documents why.<\/span><span data-ccp-props=\"{&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p><p><b><span data-contrast=\"auto\">During the Relationship<\/span><\/b><span data-ccp-props=\"{&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Six months in, Sarah spots something during year-end prep. One property shows \u00a32,500 monthly rent when market rate is \u00a31,800. Another shows zero income despite being listed as let.<\/span><span data-ccp-props=\"{&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">She documents her concerns and asks James to explain. He provides tenancy agreements showing the premium rent is a corporate let and the zero-income property had an eviction. Sarah verifies the tenancy agreements match bank deposits. Satisfied, she documents the explanation.<\/span><span data-ccp-props=\"{&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Twelve months later, she notices large round-sum transfers to a British Virgin Islands account. \u00a350,000, then \u00a375,000, then \u00a3100,000. James says he&#8217;s invested in an overseas development opportunity.<\/span><span data-ccp-props=\"{&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">The explanation is vague, the sums are large, and BVI is high-risk for money laundering. Sarah files a Suspicious Activity Report with the National Crime Agency. She doesn&#8217;t tell James. She continues normal service while NCA reviews her report.<\/span><span data-ccp-props=\"{&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5249def elementor-widget elementor-widget-text-editor\" data-id=\"5249def\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><b><span data-contrast=\"auto\">\ud83d\udcb0 Looks like a lot of hassle and cost for Sarah!<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">But it doesn&#8217;t have to be. Discover practical, budget-friendly approaches that work for small practices: <\/span><a href=\"https:\/\/figsflow.com\/uk\/how-small-firms-can-affordably-stay-compliant-with-2025-aml-rules\/\" target=\"_blank\" rel=\"noopener\"><span data-contrast=\"none\">How Small Firms Can Affordably Stay Compliant with 2025 AML Rules.<\/span><\/a><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-bb0b473 elementor-widget elementor-widget-heading\" data-id=\"bb0b473\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Common AML Misconceptions <\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c3949bd bdt-hide-entries-on-mobile-yes elementor-widget elementor-widget-bdt-table\" data-id=\"c3949bd\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"bdt-table.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"bdt-table bdt-table-default-responsive \" id=\"bdt-table-c3949bd\">\n\n\n\t\t\t<!DOCTYPE html>\n<html>\n<head>\n  <style>\n    table {\n      border-collapse: collapse;\n      width: 100%;\n    }\n    th, td {\n      border: 1px solid black;\n      padding: 8px;\n      vertical-align: middle;\n    }\n    th {\n      background-color: #f2f2f2;\n      font-weight: bold;\n    }\n  <\/style>\n<\/head>\n<body>\n  <table>\n    <thead>\n      <tr>\n        <th>Misconception<\/th>\n        <th>Reality<\/th>\n      <\/tr>\n    <\/thead>\n    <tbody>\n      <tr>\n        <td>AML only applies to large practices<\/td>\n        <td>Size is irrelevant. Sole practitioners have identical obligations to 50-partner firms.<\/td>\n      <\/tr>\n      <tr>\n        <td>I'd recognise money laundering when I see it<\/td>\n        <td>Criminals are professional, charming, and pay on time. They look like your best clients because that's deliberate.<\/td>\n      <\/tr>\n      <tr>\n        <td>AML is just ID checks at onboarding<\/td>\n        <td>CDD is one of five obligations. Ongoing monitoring catches more money laundering than initial checks.<\/td>\n      <\/tr>\n      <tr>\n        <td>Low-risk clients don't need monitoring<\/td>\n        <td>Risk-based means proportionate, not optional. All clients require monitoring, just at different frequencies.<\/td>\n      <\/tr>\n      <tr>\n        <td>Filing a SAR means stopping work<\/td>\n        <td>You continue normal service unless NCA specifically refuses consent. Stopping suddenly tips off the client.<\/td>\n      <\/tr>\n      <tr>\n        <td>Professional body membership covers compliance<\/td>\n        <td>Your supervisor inspects whether you comply. They don't do your compliance for you.<\/td>\n      <\/tr>\n    <\/tbody>\n  <\/table>\n<\/body>\n<\/html>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e2e2600 elementor-widget elementor-widget-text-editor\" data-id=\"e2e2600\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span class=\"TextRun SCXW63144688 BCX8\" lang=\"EN-GB\" xml:lang=\"EN-GB\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW63144688 BCX8\">The dangerous misconception <\/span><span class=\"NormalTextRun SCXW63144688 BCX8\">isn&#8217;t<\/span><span class=\"NormalTextRun SCXW63144688 BCX8\"> misunderstanding what AML means. <\/span><span class=\"NormalTextRun SCXW63144688 BCX8\">It&#8217;s<\/span><span class=\"NormalTextRun SCXW63144688 BCX8\"> assuming <\/span><span class=\"NormalTextRun SCXW63144688 BCX8\">you&#8217;d<\/span><span class=\"NormalTextRun SCXW63144688 BCX8\"> spot suspicious activity through intuition rather than systematic procedures. You <\/span><span class=\"NormalTextRun SCXW63144688 BCX8\">won&#8217;t<\/span><span class=\"NormalTextRun SCXW63144688 BCX8\">. Criminals specifically target professionals who rely on gut feeling rather than documented checks.<\/span><\/span><span class=\"EOP SCXW63144688 BCX8\" data-ccp-props=\"{&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d628ddf elementor-widget elementor-widget-heading\" data-id=\"d628ddf\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">What Happens If You Don't Comply <\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-32badda elementor-widget elementor-widget-text-editor\" data-id=\"32badda\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span class=\"TextRun SCXW187381680 BCX8\" lang=\"EN-GB\" xml:lang=\"EN-GB\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW187381680 BCX8\">The penalties for AML failures <\/span><span class=\"NormalTextRun SCXW187381680 BCX8\">aren&#8217;t<\/span><span class=\"NormalTextRun SCXW187381680 BCX8\"> theoretical risks mentioned in guidance documents. <\/span><span class=\"NormalTextRun SCXW187381680 BCX8\">They&#8217;re<\/span><span class=\"NormalTextRun SCXW187381680 BCX8\"> real consequences HMRC imposes regularly after inspections uncover systematic failings.<\/span><\/span><span class=\"EOP SCXW187381680 BCX8\" data-ccp-props=\"{&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c0efb53 bdt-hide-entries-on-mobile-yes elementor-widget elementor-widget-bdt-table\" data-id=\"c0efb53\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"bdt-table.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"bdt-table bdt-table-default-responsive \" id=\"bdt-table-c0efb53\">\n\n\n\t\t\t<!DOCTYPE html>\n<html>\n<head>\n  <style>\n    table {\n      border-collapse: collapse;\n      width: 100%;\n    }\n    th, td {\n      border: 1px solid black;\n      padding: 8px;\n      vertical-align: middle;\n    }\n    th {\n      background-color: #f2f2f2;\n      font-weight: bold;\n    }\n  <\/style>\n<\/head>\n<body>\n  <table>\n    <thead>\n      <tr>\n        <th>Consequence<\/th>\n        <th>What It Means<\/th>\n      <\/tr>\n    <\/thead>\n    <tbody>\n      <tr>\n        <td>Civil Penalties<\/td>\n        <td>Unlimited fines for inadequate due diligence, failed monitoring, poor record keeping, or operating without registration. Published penalties range from thousands to hundreds of thousands of pounds.<\/td>\n      <\/tr>\n      <tr>\n        <td>Criminal Prosecution<\/td>\n        <td>Up to 5 years for failing to report suspicious activity. Up to 2 years for tipping off a client. Up to 14 years for facilitating money laundering through negligent procedures. Personal liability applies regardless of company structure.<\/td>\n      <\/tr>\n      <tr>\n        <td>Reputational Damage<\/td>\n        <td>HMRC publishes your name, breach details, and penalty amounts publicly. Professional bodies can suspend or remove membership. Without membership, you can't practice. Clients leave. Insurers refuse coverage.<\/td>\n      <\/tr>\n    <\/tbody>\n  <\/table>\n<\/body>\n<\/html>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4e8a0c0 elementor-widget elementor-widget-text-editor\" data-id=\"4e8a0c0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span class=\"TextRun SCXW60330896 BCX8\" lang=\"EN-GB\" xml:lang=\"EN-GB\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW60330896 BCX8\">HMRC conducts thousands of AML inspections annually and finds failures in significant percentages of practices reviewed. Being small, busy, or well-intentioned <\/span><span class=\"NormalTextRun SCXW60330896 BCX8\">doesn&#8217;t<\/span><span class=\"NormalTextRun SCXW60330896 BCX8\"> protect you. Documented systematic procedures do.<\/span><\/span><span class=\"EOP SCXW60330896 BCX8\" data-ccp-props=\"{&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4688ef4 elementor-widget elementor-widget-text-editor\" data-id=\"4688ef4\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><b><span data-contrast=\"auto\">\ud83d\udce2 Staying compliant means staying informed<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">One of the major reasons for non-compliance is not being aware of latest regulatory changes. Keep up to date: <\/span><a href=\"https:\/\/figsflow.com\/uk\/latest-changes-in-uk-aml-rules-every-accountant-should-be-aware-of\/\" target=\"_blank\" rel=\"noopener\"><span data-contrast=\"none\">Latest Changes in UK AML Rules Every Accountant Should Be Aware Of.<\/span><\/a><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d1c86e8 elementor-widget elementor-widget-heading\" data-id=\"d1c86e8\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">How to Get AML Compliance Right <\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7eeac86 elementor-widget elementor-widget-text-editor\" data-id=\"7eeac86\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span data-contrast=\"auto\">Getting AML compliance right sounds complicated. Honestly, it is. But we accountants always have our ways. For AML, we use the RIMMED process.<\/span><span data-ccp-props=\"{&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p><p><b><span data-contrast=\"auto\">R &#8211; Register and Set Up<\/span><\/b><span data-ccp-props=\"{&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Register with your AML supervisor if you haven&#8217;t already. Appoint an MLRO (yourself if you&#8217;re a sole practitioner). Write a basic policy covering your five obligations. Create templates for risk assessments and due diligence checks. Foundation sorted.<\/span><span data-ccp-props=\"{&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p><p><b><span data-contrast=\"auto\">I &#8211; Integrate into Workflow<\/span><\/b><span data-ccp-props=\"{&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Stop treating AML as separate compliance work. Check identity before engagement letters. Assess risk during onboarding. Monitor during accounts preparation. Schedule annual reviews for all clients, quarterly for high-risk. When it&#8217;s part of normal workflow, it actually happens.<\/span><span data-ccp-props=\"{&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p><p><b><span data-contrast=\"auto\">M &#8211; Monitor for Red Flags<\/span><\/b><span data-ccp-props=\"{&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Train everyone who touches client work to recognise warning signs: unexplained cash, circular transactions, lifestyle mismatches, unusual structures, reluctance to provide information. Create a culture where staff escalate concerns without fear of looking foolish.<\/span><span data-ccp-props=\"{&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p><p><b><span data-contrast=\"auto\">M &#8211; Make Documentation Systematic<\/span><\/b><span data-ccp-props=\"{&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Use templates consistently for every client. HMRC wants evidence of systematic compliance applied to everyone, not individual heroics applied selectively. Store everything accessibly for five years minimum.<\/span><span data-ccp-props=\"{&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p><p><b><span data-contrast=\"auto\">E &#8211; Employ Technology Appropriately<\/span><\/b><span data-ccp-props=\"{&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Electronic verification speeds up identity checks. PEP databases flag high-risk individuals automatically. Practice management software schedules reviews. Technology makes compliance efficient, but suspicious activity judgment stays human.<\/span><span data-ccp-props=\"{&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p><p><b><span data-contrast=\"auto\">D &#8211; Do Annual Reviews<\/span><\/b><span data-ccp-props=\"{&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Review procedures every December. Regulations change, money laundering typologies evolve, inspection findings reveal common failures. Update templates and train your team. What worked last year might not satisfy inspectors this year.<\/span><span data-ccp-props=\"{&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b2599fe elementor-widget elementor-widget-text-editor\" data-id=\"b2599fe\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><b><span data-contrast=\"auto\">\ud83d\ude80 Get AML Compliance Right the First Time, On Budget<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">FigsFlow automates risk assessment, schedules monitoring reviews, conducts systematic PEP and sanctions screening, and creates complete audit trails automatically.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><p><a href=\"https:\/\/figsflow.com\/uk\/book-demo\/\" target=\"_blank\" rel=\"noopener\"><span data-contrast=\"none\">Book a demo to see for youself.\u00a0<\/span><\/a><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b25cc64 elementor-widget elementor-widget-text-editor\" data-id=\"b25cc64\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h2 aria-level=\"2\"><span data-contrast=\"none\">Additional Resources<\/span><span data-ccp-props=\"{&quot;134245418&quot;:true,&quot;134245529&quot;:true,&quot;335559738&quot;:160,&quot;335559739&quot;:80}\">\u00a0<\/span><\/h2><ol><li aria-setsize=\"-1\" data-leveltext=\"%1.\" data-font=\"Times New Roman\" data-listid=\"5\" data-list-defn-props=\"{&quot;335552541&quot;:0,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[65533,0],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;%1.&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"1\" data-aria-level=\"1\"><a href=\"https:\/\/www.legislation.gov.uk\/uksi\/2017\/692\/contents\" target=\"_blank\" rel=\"noopener\"><b><span data-contrast=\"none\">Money Laundering Regulations 2017<\/span><\/b><\/a><span data-contrast=\"auto\"> \u2013 Primary legislation governing AML compliance for UK accountants<\/span><\/li><li aria-setsize=\"-1\" data-leveltext=\"%1.\" data-font=\"Times New Roman\" data-listid=\"5\" data-list-defn-props=\"{&quot;335552541&quot;:0,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[65533,0],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;%1.&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"1\" data-aria-level=\"1\"><a href=\"https:\/\/www.gov.uk\/guidance\/money-laundering-regulations-your-responsibilities\" target=\"_blank\" rel=\"noopener\"><b><span data-contrast=\"none\">HMRC AML Supervision Guidance<\/span><\/b><\/a><span data-contrast=\"auto\"> \u2013 Official guidance on responsibilities and supervisory expectations<\/span><\/li><li aria-setsize=\"-1\" data-leveltext=\"%1.\" data-font=\"Times New Roman\" data-listid=\"5\" data-list-defn-props=\"{&quot;335552541&quot;:0,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[65533,0],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;%1.&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"1\" data-aria-level=\"1\"><a href=\"https:\/\/www.nationalcrimeagency.gov.uk\/what-we-do\/crime-threats\/money-laundering-and-illicit-finance\/suspicious-activity-reports\" target=\"_blank\" rel=\"noopener\"><b><span data-contrast=\"none\">National Crime Agency: Suspicious Activity Reports<\/span><\/b><\/a><span data-contrast=\"auto\"> \u2013 How to submit SARs and what triggers the requirement<\/span><\/li><li aria-setsize=\"-1\" data-leveltext=\"%1.\" data-font=\"Times New Roman\" data-listid=\"5\" data-list-defn-props=\"{&quot;335552541&quot;:0,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[65533,0],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;%1.&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"1\" data-aria-level=\"1\"><a href=\"https:\/\/figsflow.com\/uk\/complete-guide-to-aml-software-for-accountants-bookkeepers-tax-advisers\/\" target=\"_blank\" rel=\"noopener\"><b><span data-contrast=\"none\">Complete Guide to AML Software for Accountants<\/span><\/b><\/a><span data-contrast=\"auto\"><span data-contrast=\"auto\"> \u2013 Comparison of compliance tools and when you need them<\/span><\/span><\/li><li aria-setsize=\"-1\" data-leveltext=\"%1.\" data-font=\"Times New Roman\" data-listid=\"5\" data-list-defn-props=\"{&quot;335552541&quot;:0,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[65533,0],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;%1.&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"1\" data-aria-level=\"1\"><a href=\"https:\/\/figsflow.com\/uk\/complete-guide-to-aml-software-for-accountants-bookkeepers-tax-advisers\/\" target=\"_blank\" rel=\"noopener\"><b><span data-contrast=\"none\">2025 Guide to AML &amp; Identity Verification Rules<\/span><\/b><\/a><span data-contrast=\"auto\"> \u2013 Comprehensive overview of all AML requirements<\/span><span data-ccp-props=\"{&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/li><li aria-setsize=\"-1\" data-leveltext=\"%1.\" data-font=\"Times New Roman\" data-listid=\"5\" data-list-defn-props=\"{&quot;335552541&quot;:0,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[65533,0],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;%1.&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"1\" data-aria-level=\"1\">\u00a0<a href=\"https:\/\/figsflow.com\/uk\/top-6-aml-software-for-accountants-in-2025\/\"><strong>Top 6 AML Software for Accountants in 2025<\/strong><\/a> &#8211; Learn about the <strong data-start=\"2522\" data-end=\"2549\">top-rated AML solutions<\/strong> that can help you manage compliance and client verification with ease<\/li><\/ol>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-91f4340 elementor-widget elementor-widget-heading\" data-id=\"91f4340\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Conclusion <\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-dbd4ae0 elementor-widget elementor-widget-text-editor\" data-id=\"dbd4ae0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span data-contrast=\"auto\">AML isn&#8217;t paperwork for regulators. It&#8217;s protection against criminals who specifically target accountants to clean dirty money.<\/span><span data-ccp-props=\"{&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">You already do some of this work. You just don&#8217;t document it systematically. That&#8217;s the gap HMRC finds during inspections.<\/span><span data-ccp-props=\"{&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Follow the RIMMED process. Build it into your workflow. Train your team. Document everything. Get this right and AML becomes routine practice management. Get it wrong and you face unlimited fines, criminal prosecution, and practice closure.<\/span><span data-ccp-props=\"{&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-40d63ee elementor-widget elementor-widget-text-editor\" data-id=\"40d63ee\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><b><span data-contrast=\"auto\">Simplify AML Compliance with FigsFlow<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Built by accountants, for accountants. FigsFlow automates risk checks, monitoring, and documentation, so you stay compliant with less effort. \ud83d\udc49 <\/span><a href=\"https:\/\/app.figsflow.com\/signup?utm_source=website\" target=\"_blank\" rel=\"noopener\"><span data-contrast=\"none\">Try FigsFlow free<\/span><\/a><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-28501f1 elementor-widget elementor-widget-heading\" data-id=\"28501f1\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Frequently Asked Questions <\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b07d204 elementor-widget elementor-widget-bdt-accordion\" data-id=\"b07d204\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"bdt-accordion.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"bdt-ep-accordion-container\">\n\t\t\t<div id=\"bdt-ep-accordion-b07d204\" class=\"bdt-ep-accordion bdt-accordion\" data-bdt-accordion=\"{&quot;collapsible&quot;:true,&quot;multiple&quot;:false,&quot;transition&quot;:&quot;ease-in-out&quot;}\" \t\tdata-settings=\"{&quot;id&quot;:&quot;bdt-ep-accordion-b07d204&quot;,&quot;activeHash&quot;:&quot;no&quot;,&quot;activeScrollspy&quot;:null,&quot;hashTopOffset&quot;:false,&quot;hashScrollspyTime&quot;:false,&quot;closeAllItemsOnMobile&quot;:false}\">\n\t\t\t\t\t\t\t\t\t<div class=\"bdt-ep-accordion-item\">\n\t\t\t\t\t\t<div\t\t\t\t\t\t\tclass=\"bdt-ep-accordion-title bdt-accordion-title bdt-flex bdt-flex-middle bdt-flex-between\" id=\"bdt-ep-accordion-what-counts-as-money-laundering-in-the-uk\"\n\t\t\t\t\t\t\tdata-accordion-index=\"0\" data-title=\"what-counts-as-money-laundering-in-the-uk\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"bdt-ep-accordion-icon bdt-flex-align-right\"\n\t\t\t\t\t\t\t\t\taria-hidden=\"true\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"bdt-ep-accordion-icon-closed\">\n\t\t\t\t\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"fa-fw e-font-icon-svg e-fas-plus\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M416 208H272V64c0-17.67-14.33-32-32-32h-32c-17.67 0-32 14.33-32 32v144H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h144v144c0 17.67 14.33 32 32 32h32c17.67 0 32-14.33 32-32V304h144c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z\"><\/path><\/svg>\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"bdt-ep-accordion-icon-opened\">\n\t\t\t\t\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"fa-fw e-font-icon-svg e-fas-minus\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M416 208H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h384c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z\"><\/path><\/svg>\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t<span role=\"heading\" class=\"bdt-ep-title-text bdt-flex-inline bdt-flex-middle\" >\n\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tWhat counts as money laundering in the UK?\t\t\t\t\t\t\t<\/span>\n\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<div class=\"bdt-ep-accordion-content bdt-accordion-content\">\n\t\t\t\t\t\t\t<p><span class=\"TextRun SCXW181026292 BCX8\" lang=\"EN-GB\" xml:lang=\"EN-GB\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW181026292 BCX8\">Money laundering is any process used to conceal the origins of criminal funds, including transferring, converting, or <\/span><span class=\"NormalTextRun SCXW181026292 BCX8\">possessing<\/span><span class=\"NormalTextRun SCXW181026292 BCX8\"> money gained from illegal activity to make it appear legitimate.<\/span><\/span><span class=\"EOP SCXW181026292 BCX8\" data-ccp-props=\"{&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<div class=\"bdt-ep-accordion-item\">\n\t\t\t\t\t\t<div\t\t\t\t\t\t\tclass=\"bdt-ep-accordion-title bdt-accordion-title bdt-flex bdt-flex-middle bdt-flex-between\" id=\"bdt-ep-accordion-who-regulates-aml-in-the-uk\"\n\t\t\t\t\t\t\tdata-accordion-index=\"1\" data-title=\"who-regulates-aml-in-the-uk\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"bdt-ep-accordion-icon bdt-flex-align-right\"\n\t\t\t\t\t\t\t\t\taria-hidden=\"true\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"bdt-ep-accordion-icon-closed\">\n\t\t\t\t\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"fa-fw e-font-icon-svg e-fas-plus\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M416 208H272V64c0-17.67-14.33-32-32-32h-32c-17.67 0-32 14.33-32 32v144H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h144v144c0 17.67 14.33 32 32 32h32c17.67 0 32-14.33 32-32V304h144c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z\"><\/path><\/svg>\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"bdt-ep-accordion-icon-opened\">\n\t\t\t\t\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"fa-fw e-font-icon-svg e-fas-minus\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M416 208H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h384c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z\"><\/path><\/svg>\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t<span role=\"heading\" class=\"bdt-ep-title-text bdt-flex-inline bdt-flex-middle\" >\n\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tWho regulates AML in the UK?\t\t\t\t\t\t\t<\/span>\n\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<div class=\"bdt-ep-accordion-content bdt-accordion-content\">\n\t\t\t\t\t\t\t<p><span class=\"TextRun SCXW47737858 BCX8\" lang=\"EN-GB\" xml:lang=\"EN-GB\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW47737858 BCX8\">The Financial Conduct Authority (FCA) oversees AML compliance for financial institutions, while HMRC regulates accountants, estate agents, and other businesses under the Money Laundering Regulations 2017.<\/span><\/span><span class=\"EOP SCXW47737858 BCX8\" data-ccp-props=\"{&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<div class=\"bdt-ep-accordion-item\">\n\t\t\t\t\t\t<div\t\t\t\t\t\t\tclass=\"bdt-ep-accordion-title bdt-accordion-title bdt-flex bdt-flex-middle bdt-flex-between\" id=\"bdt-ep-accordion-how-long-do-aml-checks-take-in-the-uk\"\n\t\t\t\t\t\t\tdata-accordion-index=\"2\" data-title=\"how-long-do-aml-checks-take-in-the-uk\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"bdt-ep-accordion-icon bdt-flex-align-right\"\n\t\t\t\t\t\t\t\t\taria-hidden=\"true\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"bdt-ep-accordion-icon-closed\">\n\t\t\t\t\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"fa-fw e-font-icon-svg e-fas-plus\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M416 208H272V64c0-17.67-14.33-32-32-32h-32c-17.67 0-32 14.33-32 32v144H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h144v144c0 17.67 14.33 32 32 32h32c17.67 0 32-14.33 32-32V304h144c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z\"><\/path><\/svg>\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"bdt-ep-accordion-icon-opened\">\n\t\t\t\t\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"fa-fw e-font-icon-svg e-fas-minus\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M416 208H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h384c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z\"><\/path><\/svg>\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t<span role=\"heading\" class=\"bdt-ep-title-text bdt-flex-inline bdt-flex-middle\" >\n\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tHow long do AML checks take in the UK?\t\t\t\t\t\t\t<\/span>\n\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<div class=\"bdt-ep-accordion-content bdt-accordion-content\">\n\t\t\t\t\t\t\t<p><span class=\"TextRun SCXW39540102 BCX8\" lang=\"EN-GB\" xml:lang=\"EN-GB\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW39540102 BCX8\">AML checks typically take a few minutes to a few days, depending on the client\u2019s risk level, the complexity of ownership structures, and whether <\/span><span class=\"NormalTextRun SCXW39540102 BCX8\">additional<\/span><span class=\"NormalTextRun SCXW39540102 BCX8\"> verification is required.<\/span><\/span><span class=\"EOP SCXW39540102 BCX8\" data-ccp-props=\"{&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<div class=\"bdt-ep-accordion-item\">\n\t\t\t\t\t\t<div\t\t\t\t\t\t\tclass=\"bdt-ep-accordion-title bdt-accordion-title bdt-flex bdt-flex-middle bdt-flex-between\" id=\"bdt-ep-accordion-how-do-i-report-a-company-for-money-laundering-in-the-uk\"\n\t\t\t\t\t\t\tdata-accordion-index=\"3\" data-title=\"how-do-i-report-a-company-for-money-laundering-in-the-uk\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"bdt-ep-accordion-icon bdt-flex-align-right\"\n\t\t\t\t\t\t\t\t\taria-hidden=\"true\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"bdt-ep-accordion-icon-closed\">\n\t\t\t\t\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"fa-fw e-font-icon-svg e-fas-plus\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M416 208H272V64c0-17.67-14.33-32-32-32h-32c-17.67 0-32 14.33-32 32v144H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h144v144c0 17.67 14.33 32 32 32h32c17.67 0 32-14.33 32-32V304h144c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z\"><\/path><\/svg>\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"bdt-ep-accordion-icon-opened\">\n\t\t\t\t\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"fa-fw e-font-icon-svg e-fas-minus\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M416 208H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h384c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z\"><\/path><\/svg>\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t<span role=\"heading\" class=\"bdt-ep-title-text bdt-flex-inline bdt-flex-middle\" >\n\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tHow do I report a company for money laundering in the UK?\t\t\t\t\t\t\t<\/span>\n\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<div class=\"bdt-ep-accordion-content bdt-accordion-content\">\n\t\t\t\t\t\t\t<p><span class=\"TextRun SCXW33944521 BCX8\" lang=\"EN-GB\" xml:lang=\"EN-GB\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW33944521 BCX8\">Suspicious activity should be reported to the National Crime Agency (NCA) through a Suspicious Activity Report (SAR). Accountants must <\/span><span class=\"NormalTextRun SCXW33944521 BCX8\">submit<\/span><span class=\"NormalTextRun SCXW33944521 BCX8\"> reports promptly under legal obligation.<\/span><\/span><span class=\"EOP SCXW33944521 BCX8\" data-ccp-props=\"{&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<div class=\"bdt-ep-accordion-item\">\n\t\t\t\t\t\t<div\t\t\t\t\t\t\tclass=\"bdt-ep-accordion-title bdt-accordion-title bdt-flex bdt-flex-middle bdt-flex-between\" id=\"bdt-ep-accordion-how-to-tell-if-someone-is-laundering-money\"\n\t\t\t\t\t\t\tdata-accordion-index=\"4\" data-title=\"how-to-tell-if-someone-is-laundering-money\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"bdt-ep-accordion-icon bdt-flex-align-right\"\n\t\t\t\t\t\t\t\t\taria-hidden=\"true\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"bdt-ep-accordion-icon-closed\">\n\t\t\t\t\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"fa-fw e-font-icon-svg e-fas-plus\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M416 208H272V64c0-17.67-14.33-32-32-32h-32c-17.67 0-32 14.33-32 32v144H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h144v144c0 17.67 14.33 32 32 32h32c17.67 0 32-14.33 32-32V304h144c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z\"><\/path><\/svg>\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"bdt-ep-accordion-icon-opened\">\n\t\t\t\t\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"fa-fw e-font-icon-svg e-fas-minus\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M416 208H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h384c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z\"><\/path><\/svg>\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t<span role=\"heading\" class=\"bdt-ep-title-text bdt-flex-inline bdt-flex-middle\" >\n\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tHow to tell if someone is laundering money?\t\t\t\t\t\t\t<\/span>\n\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<div class=\"bdt-ep-accordion-content bdt-accordion-content\">\n\t\t\t\t\t\t\t<p><span data-contrast=\"auto\">Common red flags include large or unusual cash transactions, complex ownership structures, reluctance to share information, or activity inconsistent with a client\u2019s normal business pattern.<\/span><span data-ccp-props=\"{&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Get AML wrong and face prison, unlimited fines, and losing your practice\u2014because criminals deliberately look like your best clients.<\/p>\n","protected":false},"author":31,"featured_media":30600,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_tocer_settings":[],"footnotes":""},"categories":[67,6],"tags":[11],"class_list":["post-30584","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-accountants","category-blog","tag-compliance"],"acf":[],"_links":{"self":[{"href":"https:\/\/figsflow.com\/uk\/wp-json\/wp\/v2\/posts\/30584","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/figsflow.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/figsflow.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/figsflow.com\/uk\/wp-json\/wp\/v2\/users\/31"}],"replies":[{"embeddable":true,"href":"https:\/\/figsflow.com\/uk\/wp-json\/wp\/v2\/comments?post=30584"}],"version-history":[{"count":1,"href":"https:\/\/figsflow.com\/uk\/wp-json\/wp\/v2\/posts\/30584\/revisions"}],"predecessor-version":[{"id":33609,"href":"https:\/\/figsflow.com\/uk\/wp-json\/wp\/v2\/posts\/30584\/revisions\/33609"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/figsflow.com\/uk\/wp-json\/wp\/v2\/media\/30600"}],"wp:attachment":[{"href":"https:\/\/figsflow.com\/uk\/wp-json\/wp\/v2\/media?parent=30584"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/figsflow.com\/uk\/wp-json\/wp\/v2\/categories?post=30584"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/figsflow.com\/uk\/wp-json\/wp\/v2\/tags?post=30584"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}