Backed by criminal sanctions and the threat of imprisonment for non-compliance, the regulations are not to be ignored. Enforcement applies whether a breach has been deliberate or through naivety.
Franklins can assist with advice on the requirements of and compliance with money laundering regulations and legislation.
In particular, our service includes all, or part, of the following:
- Discussing your current systems and internal procedures to ensure that a bespoke policy will meet your needs;
- Working with you to risk assess your business and its processes;
- Drafting policies, directives and advisory notes to support staff and the MLRO;
- Training in anti-money laundering;
- Dealing with Due diligence enquiries individually or on a retainer basis working with your MLRO;
- Monitoring on-going compliance;
- Supporting the MLRO in ensuring procedures are in place to report suspicious activity to the National Crime Agency.