SRA's AML Crackdown - Assess Your Risk Now

SRA puts firms on notice for money laundering compliance checks

The SRA announced on 20 March 2019 that it is launching a crackdown against firms who fall foul of money laundering procedures.

The regulator will initially write to a sample of 400 firms asking them to demonstrate compliance with the Money Laundering Regulations 2017. The SRA will be checking that firms have a money laundering risk assessment and implementation plan in place.

The risk assessment below will help you gain a clear understanding of whether you have the policies and procedures needed to ensure AML compliance.

How to produce an AML training report

In the event of an SRA audit, you will be required to produce records and evidence of AML training at your firm. Generating these records is simple with the VinciWorks LMS.

AML training suite

VinciWorks' AML training suite allows firms to train their entire staff, regardless of their current knowledge and understanding.

The suite includes our latest course, AML: Know Your Risk. The course takes the risk-based approach mandated by the Fourth Directive and drops users into real-life scenarios to test their knowledge, understanding and ability to uncover red flags.

All VinciWorks' anti-money laundering courses have been updated in accordance with the Money Laundering Regulations 2017.