AML

Anti-Money Laundering and Countering Financing of Terrorism

From 1 October 2018 accountants are required to comply with the Anti-Money Laundering and Countering Financing of Terrorism Act 2009.  These requirements are often referred to as “AML”.  AML is a global initiative intended to make it harder for criminals to profit from and fund illegal activity.  

This means that before carrying out work for our clients we may need to carry out Customer Due Dilligence (CDD).  CDD requires us to verify the identity of our clients and we will do this by obtaining copies of documents such as passport or drivers licence and proof of address.  Additional information may be also required for companies or trusts. 

Many of our clients are well known to us and we understand that it may be frustrating to be asked to prove your identity, however we are committed to complying with our obligations under the act. 

For more information on AML please contact your local office.