London Based Anti-Money Laundering Compliance Advisory Services
Today Money Launderers Will Seek Out Holes To Exploit In Your Business
We’ll be there when they arrive.
Spot any weaknesses in your compliance processes before financial criminals, or regulators
Argus Pro. There before you need us.
What Is Money Laundering?
According to the Financial Crimes Enforcement Network, money laundering involves the act of “disguising financial assets so they can be used without detection of the illegal activity that produced them. Through money laundering, the criminal transforms the monetary proceeds derived from criminal activity into funds with an apparently legal source”.
What The Financial Conduct Authority Expects Of UK Businesses
When it comes to AML compliance, firms in the City of London, and the rest of the UK, are expected to:
Suspicious activities must be reported immediately and with the full cooperation with regulatory authorities.
It’s your responsibility to stay fully informed of regulatory updates and update your Anti-Money Laundering practices to address emerging risks and maintain compliance.
Our anti-money laundering compliance solution enables you to achieve this with no added costs.
What Happens When AML Compliance Goes Wrong?
Regulators have powers to issue unlimited fines and even revoke trading licences.
In the UK, regulators also have the power to pursue criminal charges.
With AML Compliance, Prevention Is Better Than Rehabilitation.
In 2021 NatWest was hit with a £265m fine for failing to comply with money laundering regulations. Whilst it wasn’t complicit in the money laundering, the bank’s failures laid an easy path for those responsible.
Two years later Deutsche Bank was fined $186m by the US Central Bank for unsafe and unsound practices linked to Anti-Money Laundering controls.
Both banks thought they had everything in place to be fully compliant.
They only discovered holes in their procedures once those holes had been exploited.
Our independent anti-money laundering compliance advisory service provides extra robust protection and ongoing verification meaning you can sleep soundly at night.
Check out how our AML compliance service based in London could help here.