Funds from China - Minimising Risk When Discharging Your AML Reporting Obligations

Introduction

In its latest sector risk assessment the Solicitors Regulation Authority identified countries with stringent capital or exchange controls such as China as posing a money laundering risk.

Illegal money transfer businesses prosper against a background of financial controls and the movement of money through such a business poses a money laundering risk for persons in the UK.

Co-presented by Anita Clifford and Jo Morris, this webinar focuses on how the risk can arise where funds from China are concerned and steps through the customer due diligence that should be undertaken in order to discharge AML obligations.

What You Will Learn

This webinar will cover the following:

• The different ways a money laundering concern can arise when a transaction involves money from China
• The approach to customer due diligence, including best practice for source of funds checks
• The reporting obligation and how it can be triggered when a funds concern arises
• Latest guidance issued by the NCA, Law Society of England & Wales and Law Society of Scotland
• Recent cases

This webinar was recorded on 1st June 2023

You can gain access to this webinar and 1,700+ others via the MBL Webinar Subscription. Please email [email protected] for more details.