Essential Knowledge – About Money Laundering
The amount of money laundered through the UK each year is estimated to be £57 billion; according to the Treasury approximately £10 billion of illicit funds passes through the regulated sector (including law firms) each year.
Given the scale of the problem and the consequences for law firms which fall fowl of this criminal activity, it is crucial that all legal staff understand what money laundering is, what to look for and the reporting system to follow should they identify suspicious activity.
During this webinar compliance specialist Tracey Calvert will consider the following topics:
· Purpose of Money Laundering Regulations
· UK Money Laundering Legislation
· POCA – Principal Offences
· Defences to Money Laundering Offences
· Terrorism Act 2000
· Money Laundering Regulations 2007
· What is the NCA?
· Reporting Procedures
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