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Combatting money laundering

27 November 2018 / Alex Byrne
Issue: 4674 / Categories: Comment & Analysis

Alex Byrne sets out the ways practitioners can protect themselves from the charge of money laundering and looks at published guidance.

KEY POINTS

  • Why is money laundering so important to accountants?
  • The application of the rules and examples of money laundering activities.
  • Avoiding committing a money laundering offence
  • The ‘Flag it up’ campaign and signs of money laundering.
  • Risk assessment potential tax fraud and deciding whether to report.

A dirty business

As the government relaunches its ‘Flag it up’ campaign against money laundering activity Alex Byrne considers the important role played by accountants and tax advisers in combating the practice.

The Consultative Committee of Accountancy Bodies (CCAB) is the umbrella group of various chartered accountancy bodies: the ICAEW ACCA CIPFA ICAS and Chartered Accountants Ireland. In March 2018 it published a new document Anti-Money Laundering Guidance for the Accountancy Sector (

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