Money Laundering Statue and Rules

Money laundering laws, come under a combined use of the Proceeds of Crime Act 2002, the Serious Organised Crime and Police Act 2005 and the Money Laundering Regulations 2003.

They state where an accountant or Practice has knowledge, suspicion or reasonable grounds for suspicion that a client or employer is involved with obtaining money illegally, there is a legal requirment to report this to the National Criminal Intelligence Service (NCIS). If the member is working in a company with a money laundering reporting officer then, they should be informed of the matter.

I dont know of any websites as yet. I can have a look and see if i can find anything and come back if i have.

No probs, vic. I actually cribbed that from my Professional Ethics book. I'm afraid i'm not that clever.:001_smile:

Regarding accountants responsibilites. All i could find of note on our good friend G Oogle esq. was an article from CIMA, that from 2006 accountants do not need to notify NCIS on any suspicions.

IF you want any info on the acts, these are what i have come up with.

http://www.192business.com/compliance/money-laundering
About Money Laundering and link to Money Laundering Act

The following are from the Office of publice sector information and give general notes on the acts.

http://www.opsi.gov.uk/acts/acts2002/en/ukpgaen_20020029_en_1.htm
Notes on proceeds of crime act

http://www.opsi.gov.uk/acts/acts2005/en/ukpgaen_20050015_en_1.htm
Serious organized crime and police act

I haven't read them, too much, so i don't know if they will give you the information that you need.