Regulation 21 of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 requires that a firm which is regulated, implements internal controls where appropriate to the size and nature of the firm. These controls are: 1. Appoint a person to be…
At the start of 2018 most us will have sat down and set personal new year resolutions. There are two questions I would ask: How many of those resolutions are you maintaining? Out of those resolutions, were any of them business focused? Whether you are the decision…
‘DPO’, or Data Protection Officer is the person in a business who has been appointed to deal with all data privacy related matters. Under the current Data Protection Act there are no mandatory requirements to appoint a DPO, although some businesses that process a high volume of data may…
I was recently at an event speaking about anti- money laundering legislation. As my attentive audience sat eagerly taking notes, one delegate raised her hand to ask about client verification, and the how’s of doing it correctly. Silence struck the room quite quickly as the realisation hit all the…
As we are all aware, the GDPR implementation deadline of 25th May 2018 is fast approaching….. in fact it’s just over 15 weeks away. But were you also aware that the requirements for data controllers to register with the ICO, and the fees for registration are changing on 1st…
The wicked, the criminals, are continuously innovating, and creating new ways to make money out of crime. They are also money laundering, on an epic scale. The scale of money laundering in the UK is thought to be £90bn a year. 2017 was a year of change in…
The mere mention of the “C” word tends to fill people with dread and many firms, Partners or owners continue to bury their heads in the sand. Many firms have changed the structure of their business support showing that there is a significant shift from the misconception of “fee…
So it’s been back to the coal face for a month now since the Christmas festivities. How are you getting on with your resolutions? Like a lot of people you may have made resolutions to mark the New Year. Research (credit a quick google search) suggests only 8%…
Writing a blog about becoming compliant with The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 is tricky. So much of what you will need to do will depend on the individual risk factors your firm faces. However, here are some things you…
So, if you haven’t heard about GDPR by now you must have been in hibernation for quite some time! It’s coming……soon….. but where are you on your journey? A small percentage of you will have been aware of the General Data Protection Regulation (GDPR) since it was adopted…
