On 15 September, Accounting Web explained that the Consultative Committee of Accounting Bodies (CCAB) is responsible for producing the AML/CFT guidance for the accountancy sector. This guidance is then approved by HM Treasury and once approved must be taken into account by the courts when considering if an individual or business has breached the Money Laundering Regulations.  A draft version of updated guidance was issued on 4 September, taking into account the 5th AML Directive.  The article explains the changes made.

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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