THE MONEY LAUNDERING REGULATIONS AFFECTS ALL REGULATED SECTOR FIRMS

The law expects individuals in the regulated sector to be able to identify suspicious activity to the level of a ‘reasonable person’ and make the appropriate report to their MLRO and places a personal liability on the individul if they fail to do so.  The 2007 regulations impose further civil and criminal offences on a firm for failure to:

• Know Your Client and Client Due Diligence procedures
• Adopt a risk based approach
• Apply enhanced customer due diligence for those cases that pose a higher risk
• Have internal systems for reporting, regular staff training and record keeping
• Register for compliance monitoring

Poor compliance could potentially impact on your business in different ways:

• Damage of your professional and personal reputation
• Loss of your fee income
• Supervisory issues resulting in penalties

The ML Regulations 2007 are here.  We have an obligation and compulsion under law to follow them and demonstrate to a supervisor that we have done so. To read more, please go to: http://www.btc-nw.co.uk/professional/anti_money_laundering_index.asp 

Full support services for Accountants in Practice

Do you need support to meet clients’ increased expectations? Would you like expert support only as and when you need it? Would you like to have quality support without the high costs?  We have the solutions whatever your needs are.

Business Tax Centre is a professional firm that provides a complete range of business support services to Accountants and Solicitors, as well as the general public. We can help you with all your company formation service needs from forming a limited company to producing company reports. We can offer you true Professional Service, Value for Money and the best Customer Service. We provide fast & efficient company formation services. Your new limited company could be formed in 3-6 hours, your company formation documents delivered within 2-3 working days, or even your company reports e-mailed to you within minutes! We have invested heavily on technology to give you the best service possible.

We are more than just Company Formation Agents.  We offer you complete company services:

Our services don’t stop there either as we are also one of the leading experts in Anti-Money Laundering.  We have presented many seminars all over UK together with Serious Organised Crime Agency (SOCA) and also have worked with 5 UK Accountancy Bodies.  We are members of International Compliance Association (ICA). We have a complete range of services to fulfill your AML compliance obligations:

For more information visit:  www.btc-nw.co.uk  or call 0800 0854127