Money laundering – is your business protected?
Money laundering is a serious threat to many businesses as well as to wider society. The UK is committed to tackling money laundering. As such, any failure to comply with the UK's anti-money laundering regime can have serious consequences. There are a wide range of money laundering offences that can be committed by both businesses and individuals. The maximum penalty for an individual who breaches one of the substantive money laundering offences is 14 years' imprisonment and/or an unlimited fine. The consequences for businesses of breaching the regime can also be severe and include unlimited fines, damage to reputation and loss of business. It is therefore essential that businesses instil a culture of compliance amongst their staff in order to reduce the risk of breaches of the UK's anti-money laundering regime within the workplace.
About the Anti-Money Laundering course
Developed in collaboration with law firm Pannone, Leopink's Anti-Money Laundering e-learning course provides focussed and practical training on the key elements of the UK's AML regime to assist businesses, in particular those in the regulated sector or with customer or supplier facing roles, in handling money effectively without breaching the law. Those undertaking the course will achieve an understanding of the following:
- What money laundering is
- The purpose of the UK's AML regime
- The types of conduct that amount to a criminal offence under the regime
- The obligations on businesses and what is expected of an employee
- The consequences of breaching the regime
- Areas of potential risk