The Money Laundering Regulations require firms which are undertaking Trust or Company Service work to take appropriate steps to identify and assess the risk that they could be used for money laundering, including terrorist financing.
TCSP activity includes:
acting or arranging for someone to act as a director or secretary of a company, a partner of a partnership or in a similar capacity in relation to other legal persons
providing a registered office, business address, correspondence or administrative address or other related services
acting or arranging for someone to act as a trustee of an express trust or nominee shareholder for someone not listed on a regulated market.
By knowing and understanding the risks, your firm can help ensure that criminals find it difficult to exploit these services.
This informative webinar explores practical approaches that firms can take to efficiently identify key risks to accountancy firms acting as Trust or Company Service Providers, including updates reflecting the UK’s National Risk Assessment and other emerging threats and trends. This webinar will help supervised firms ensure they maintain policies and procedures which meet regulatory requirements and best practice, appropriate and proportionate for their size and activities.
David Potts is director of operations at the AIA and is responsible for maintaining the professional body’s international recognition and regulatory strategies. David works with regulatory bodies across the world to ensure AIA members meet the appropriate standards of competence and professionalism. David is a Professional Member of the International Compliance Association.