Richard Simms's Contact Details

Richard Simms's Company Details

Anti Money Laundering Compliance Company Ltd

, England, United Kingdom • 7 Employees
Financial Services

In order to be compliant with the Money Laundering Regulations, companies must now adhere to the following:- Be monitored for compliance by one of the 22 authorised supervisory bodies- Appoint a Money Laundering Reporting Officer (MLRO) within the firm who will have additional duties such as reporting suspicious activity reports (SARs) to the National Crime Agency- Ensure all client-facing staff undertakes appropriate training - (Recommended hours by AMLCC would be 2 hours)- Carry out Customer Due Diligence (CDD) including risk assessments for every client- Make sure clear reporting systems are in place within the firm- Make sure record keeping is up-to-date and organised for possible inspection- Ensure the firm has a Compliance Manual at hand for all staff membersWhy be compliant?Your supervisor and law enforcement agencies may wish to inspect your firms' Anti Money Laundering records. Penalties for non-compliance could range from sanctions and fines from your supervisor through to criminal action from law enforcement agencies. What is AMLCC? The easy to use online system aids in the compliance against the regulations and also provides training for all staff members to help them stay up-to-date with any changes in the regulation.The AMLCC product offers the following services to enable firms to overcome the problem of money laundering:- A hard copy and online compliance manual (includes policy statement)- Online training modules- Online risk assessment wizards- Online compliant client verification system- Secure online records storage- Online reporting functionAll subscribers also receive our monthly Compliance Matters email, keeping you up to date with relevant articles and news on money laundering related issues.Basic subscription is £197Additional logins can be purchased at £17 Online verifications cost from £3 each, discounts offered for bulk ordersSecond year renewal is £147