Anti-Money Laundering

Bader Quince specialises in supporting businesses who are required to be regulated by the UK’s anti-money laundering (AML) regulations. This will typically include:

• credit and financial institutions
• auditors and insolvency practitioners
• accountants and tax advisors
• legal professionals supplying notarial services to others, or those participating in financial or real property transactions
• company service providers
• estate and letting agents
• high value dealers and art market participants
• casinos
• businesses offering fin-tech and crypto services to others

There are exceptions to some of the business types listed above and if you are concerned about whether your business is required to be regulated for anti-money laundering purposes, please contact us.

We also assist all business types understand the impact on their business of financial crime and help risk assess and put in place a robust regime for identifying and reporting concerns.

Our services

We offer a range of AML and financial crime services, which include:

• Drafting and reviewing your business-specific risk assessment and any associated client / supplier / staff inception processes
• Supporting your compliance leads or Money Laundering Reporting Officer consider suspicious activity
• Reviewing or conducting a risk assessment and helping you to put in place a robust regime for identifying and reporting concerns
• Assisting you in putting in place training and regular updates to personnel to keep you up-to-date with changes in legislation, sanctions and reporting requirements

How we work

Who we work with

What you can expect

Money Laundering Reporting Officer Support

All senior managers of a business required to be regulated for anti-money laundering are responsible for fostering and promoting controls and procedures designed to ward against the risk of money laundering, terrorist financing and tax evasion.

Where required, those businesses will appoint a Money Laundering Reporting Officer (MLRO) and (often separately) a Money Laundering Compliance Officer (MLCO). Bader Quince has experience in holding both roles and, as such, we are ideally placed to support your existing MRLO and MLCO functions in identifying and reporting suspicious activity.

MLRO support services

As part of our MLRO support services, we can offer:

TRAINING:

All staff of a business required to be regulated for AML purposes must ensure that its staff is provided with ongoing training to identify a transaction or activity that may be related to money laundering or terrorist financing, and on how to proceed once such a transaction or activity is identified. Failure to put this training in place and keep it relevant can lead to enforcement action, financial penalties, adverse media, and client attrition. We can help you devise training specific to your business practice for deployment to your staff to help ensure all individuals are aware of expectations and best practice.

ADVICE:

We can provide advice on what steps need to be taken to assess and report individual instances where there is a suspicion of money-laundering. This can also include advice on policies, controls and procedures, as well as “tipping off”, and how to record instances of concern and make reports to the relevant authorities.

DESIGN

We firmly believe that “off the shelf” policies rarely do less harm than good for a business, and we strongly believe that for policies and procedures to be effective they need to be pertinent and specific to the business. We pride ourselves in our practice of getting to know how your business works so that we can help design AML policies and procedures that provide effective protection and compliance, without impeding growth and innovation..

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What our clients say

Davina was instrumental in compiling working practices and procedures and she supplied templates that reflected how we worked. Her input made a real commercial difference to our company.

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- Commercial private landlord, Hampshire

Davina was excellent in her work for my firm. She completed the work quickly and incredibly accurately and really paid attention to the accuracy of our documentation across the firm, not just the documents she was specifically reviewing. Enthusiastically recommended!

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- David Roper, Solicitor

I have known Davina for many years and have been the grateful recipient of her advice on a number of issues crucial to by consultancy practice. She is not only extremely well informed and superbly competent, but also very user friendly.

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