Money Laundering Regulations

Jmann
Jmann Registered Posts: 68 Regular contributor ⭐
in General accounting discussion
Hello every one,

I just wondered if you could help me out on the following

As per MLR 2007, do you have to have Money Laundering Procedural Manual?

If yes, which one you are using and any recommendations?

Regards

J Mann

Comments

  • mark130273
    mark130273 Registered Posts: 4,234 Beyond epic contributor 🧙‍♂️
    hiya. i know im not answering the question put. but i have another question to anyone who might be able to help !

    1: i am currently being self employed and doing work for an accounting firm.
    The firm has got a money laudering licence. Does this cover my for doing any bookkeeping work for them or do I have to have a MLL for myself.

    any help would be most appreciated ?
  • Psyche
    Psyche Registered Posts: 187 Dedicated contributor 🦉
    Fee has gone up!

    This doesn't answer your questions really but on the topic of money laundering regulations, I have just learned that the fee has gone up from £95 to £120... ouch! Something to be aware of.

    ~Psyche
  • Jmann
    Jmann Registered Posts: 68 Regular contributor ⭐
    My professional body is a supervisory so I do not need to worry about HMRC fees.

    Just to update on MLR procedure manual, I bought Practice Manual from Swat Uk and it has money laundering prodedure manual.
  • LouiseR
    LouiseR Registered Posts: 59 Regular contributor ⭐
    I'm looking to purchase a AML policy and I have had a few varied quotes. I would be interested to see how you found Swat UK's manual as it seems a very reasonable price.

    Thanks

    Louise
  • Nilesh Mandvia
    Nilesh Mandvia Registered Posts: 91 Regular contributor ⭐
    Swat UK

    Hi Louise

    I bought General Practice Procedures Manual for ACCA from Swat UK. It is good and contains, various administrative forms, engagement letters, explanation what to include in engagement letters, disengagement letter, Money Laundering Procedure, check list, ID check list etc.

    Recently they put the price up from £110 + vat to £160+ vat!. If you new in practice, I think this cd would help.

    There is a MLR guidence publised by CCAB.
    http://www.ccab.org.uk/PDFs/070612%20CCAB%20Guidance%20Clean.pdf

    HTH

    Nilesh
  • Jmann
    Jmann Registered Posts: 68 Regular contributor ⭐
    Swat UK Money Laundering Procedure Manual

    Hi Louise

    I found Swat uk manual ok. As commented it is good it contains information about money laundering, what is require and how to fulfill the obligations.

    If you were to buy just MLR Manual, I would invest little bit more and get practice manual. I know it is expensive but would help you in set up.

    John

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