Money Laundering Compliance Manual

An overview of the anti-money laundering regime including: 

• Definition of money laundering 
• Money laundering offences 
• An overview of obligations 
• Sanctions 

Firmwide obligations including: 

• Management responsibilities 
• Procedures 
• Training 
• Record keeping 
• Firm-wide risk assessment 

Client due diligence (CDD) including: 

• Understanding your client 
• Risk assessment 
• Verification 

Reporting including: 

• Suspicious activity reporting (SAR) requirements 
• Tipping off 
• Defence against money laundering (DAML) 

Ready-to-use templates and forms 
A suite of ready-to-use anti-money laundering templates and forms to help you implement the required procedures and comply with the regulations: 

• Firm-wide risk assessment form 
• AML policies and procedures (including prevention of Bribery and Tax evasion) 
• Annual confirmation of anti-money laundering awareness 
• AML training and communication register 
• Newsletters for new and existing staff 
• Know your client checklist (individual) 
• Know your client checklist (entity) 
• AML risk assessment (individual) 
• AML risk assessment (entity) 
• Verification form (individuals) 
• Verification form (companies) 
• Verification form (charities and places of worship) 
• Verification form (clubs and societies) 
• Verification form (pension schemes) 
• Verification form (trusts) 
• Verification form (professional firms) 
• Verification form (partnerships and sole traders) 
• Verification form (FCA authorised firms) 
• Verification form (government departments, local authorities) 
• Verification form (probate or administration) 
• Verification form (LLPs) 
• Annual review for changes form 
• Assignment commencement checklist 
• Assignment finalisation checklist 
• Internal suspicious activity report (SAR) 
• Internal acknowledgement of suspicious activity report (SAR) receipt 
• Internal suspicious activity report (SAR) register.

October 2024 
The principal technical changes in this update include:  

• Updates to reflect the revised Accountancy AML Supervisors Group (AASG) Risk Outlook. 
• Changes to the list of high-risk third countries. 
• Additional guidance on meaningful completion of the CDD forms. 
• Restructuring, to aid navigation around the manual. 

January 2024 
This update principally incorporates: 

• Changes to reflect the latest version of the CCAB Anti-Money Laundering Guidance for the Accountancy Sector (AMLGAS) issued in June 2023; 
• Updates to reflect changes to the discrepancy reporting regime and the economic crime levy now being in force; 
• Changes in the sanctions regime; and 
• Other minor updates to AML guidance and regulation. 

September 2022 
The principal technical changes in this update relate to:  

• The issue of the updated Anti-Money Laundering and counterterrorist financing Guidance for the Accounting Sector (AMLGAS) issued by the CCAB (Consultative Committee of Accountancy Bodies) in May 2022. 
• Changes to the Money Laundering Regulations in respect of:
  • A requirement to check and report discrepancies on the PSC register for existing clients. 
  • Implementation of the requirement to similarly check the trust register maintained by HMRC. 
  • A new requirement to check the register of overseas entities that applies to overseas entities with an interest in UK property. 
  • Updates to the list of high risk third countries. 
  • The inclusion of proliferation financing as part of the AML regime including a new requirement for firms to consider the risk that clients may be involved in proliferation financing. 
• New guidance on the risks arising from a breach of sanctions and, in particular, the risks arising from the provision of accounting services to those connected with Russia. 
• Issue of an updated Risk Outlook by the Accountancy AML Supervisors Group (AASG) in April 2022. 

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Mercia online manuals are updated regularly by our technical staff and you will be notified of any significant regulatory changes by email. 

Your subscription will automatically auto-renew on anniversary date, you will be notified by email before your subscription expires and offered the option to opt out of auto-renewal. 

System Requirements

• Internet access.
• Operating System: Windows 10.
• Applications: Full version of Microsoft Office 2010, 2013 and 2016, Adobe Reader.

Note: Windows Office RT, Office Mobile and Office 365 Online are not currently supported.

• Office 365 with a locally installed copy of the Office suite is supported.