Ethics - Anti-Money Laundering

Question 1

A person is engaged with anti-money laundering if they:

Answer 1

• conceal, disguise, convert, transfer or remove criminal property from the UK (including proceeds of tax evasion)
• acquires, uses or has possession of criminal property (including proceeds of tax evasion)
• enters into, or becomes concerned about, arrangement they know or suspect facilitates the acquisition, retention, use or control of criminal property (includes proceeds of tax evasion)

Question 2

To prevent, recognise and report money-laundering, members must comply with:

Answer 2

• Proceeds of Crime Act 2 (POCA) as amended by Serious Organised Crime and Police Act 2005 (SOCPA)
• Money Laundering Regulations 2017

Question 3

What does the ICAEW support?

Answer 3

The UK Economic Crime Strategic Board’s economic crime plan