AML - Want to hear your thoughts on this!

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Rajan96
Rajan96 Registered Posts: 9 New contributor 🐸
in General Qualifications 2022 discussion
Hi all,

I am an MAAT and Licensed Bookkeeper and just have a query. As a Bookkeeper or Accountant, we will have new clients who approach us to do their Bookkeeping. If when we have a discussion with them, they disclose or mention that they do not show all their income or give any hints about their money laundering activities, of course, one thing is for me it is very clear that I would not want to engage in any activity with them let alone provide them with Accountancy or Bookkeeping services.

I just wondered what would be your reaction to this as an Accountant/Bookkeeper and what actions if any you would take if you come across similar situations. Some of you might have even started work for them and then realise, so what did you do in that scenario?

Your thoughts on this would be much appreciated.

Looking forward to hear some great responses :)

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  • sk2022
    sk2022 Registered Posts: 24 New contributor 🐸
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    Hi,

    I have never experienced this, but in my opinion if on the inital discussion they give you hints that they do not disclose everything, I would not engage with them as you would not want any issues later on down the line.

    If you have already been working for them and then you suddenly realise holes are appearing, missing information etc. I would first ask them about it in a non suspicious way as it could just be a genuine mistake. If they are still being hesistant you would let them know it is your professional duty to ensure accounts are accurate and that this would affect your professional integrity. If they then provide you with the information you are sorted, if not you would let them know that you are no longer looking to provide your services to them, ensure any work done before passing it back to them is done to a satisfactory standard. If Bribery / Anti money Laundering is involved then you would whistleblow to the relevant bodies to investigate, because if another business down the line does it before you and the regulatory body find out the accounts are signed off by you then you would be questioned about it, this would put your license on the line. You will still get questioned if you whistleblow but at least your license wont be on the line.

    Hope this helps

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