Money Laundering

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SYSC326 assists clients to identify and assess AML and financial sanctions risk in internal business process and in the operating environment. Support for clients with out-source risk management and oversight. Independence, objectivity and experience when responding to AML and financial sanctions issues.

Regulated firms must comply with The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017.

Regulated firms should implement and maintain effective, risk-based systems and controls to mitigate money laundering risk.

We advise clients on anti-money laundering ('AML') risk and control framework requirements and MLR2017 compliance.

Non-compliance with the MLR2017 or financial sanctions and embargoes, can lead to regulatory enforcement and/or criminal prosecution.

Requirements include coverage of risk in Customer Due Diligence, transactions, reporting to the authorities and record keeping arrangements.

We assist clients to comply with regulatory expectations for AML and sanctions (e.g. per FCA Handbook - SYSC 6.3 Financial crime).

Firms can find themselves subject of a s166 review initiated by the FCA, or having to conduct remedial activity following a regulatory review.

Penalties, diversion of senior management time and business impact can be severe, involving on-going monitoring in egregious cases.

Our team includes previous Money Laundering Reporting Officers ('MLROs') and Heads' of Financial Crime.

Our Services
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Useful links
Regulatory Review Services
Money Laundering Regulations

Challenger Banks

FCA - Financial Crime Guide

OFSI - Sanctions Guidance 

JMLSG Guidance

FAQ on Anti-Money Laundering