Completion of Client Due Diligence (CDD) during urgent work
Chartered Accountants Ireland, in conjunction with CCAB, has published Covid-19 Supplementary AML Guidance – Click on the following link to access - Completion of Client Due Diligence (CDD) during urgent work (Regulation 30 of Money Laundering Regulations 2017).
Accountancy Affinity Group (AAG) – Advisory Note
COVID-19 –and preventing Money Laundering/Terrorist Financing in Accountancy Practices
Chartered Accountants Ireland, as a member of the Accountants Affinity Group (AAG) has issued guidance on AML responsibilities during the Covid-19 crisis. This Guidance looks at controls, policy and procedural issues, as well as new risks as a result of Covid-19. The AAG is comprised of the AML supervisors within the accountancy sector in the UK. However this Guidance was drafted in conjunction with the legal sector.
READ MOREICAEW Guidance
The current emergency situations in Ireland and the UK undoubtedly give rise to heightened risks and challenges to Institute firms and their compliance with their anti-money laundering (AML) obligations in both jurisdictions. Our colleagues in ICAEW have prepared useful information and guidance on the implications of the COVID-19 situation and AML issues. While this material is written in a UK context, the guidance it sets out is also relevant to Ireland. The ICAEW information can be accessed here.
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