The UK Government is working with the accountancy, legal and property sectors through FLAG IT UP, to promote best practice in AML compliance and reporting suspicious activity.

Lawyers throughout the UK are being urged to FLAG IT UP in an attempt to curb multibillion-pound money laundering criminals.  The FLAG IT UP campaign has key messages:

  1. Criminals may try to exploit your services. It’s your personal responsibility to conduct thorough due diligence to protect yourself. Don’t be guilty of facilitating money laundering.
  2. Money laundering has severe penalties. You could damage your or your firm’s reputation, lose your licence or face prosecution.
  3. The impact of money laundering on society is devastating. Don’t help to line the pockets of criminals who commit modern slavery, human trafficking or fraud.
  4. Even when the proper process is followed, things can slip through if you don’t look closely enough.

flag it up

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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