AML compliance service - AMLCC

The Anti-Money Laundering Compliance Company (AMLCC) provides an online programme to assist professionals in the accountancy and bookkeeping sectors with their compliance with the Money Laundering Regulations.

Your IFA supervision fee now includes the AMLCC suite of AML compliance tools which is free for you and up to three staff members. Find out more about the compliance package.

Please note that that AMLCC software is in the process of being updated for the changes resulting from the Money Laundering Regulations 2019 which came into force on 10 January 2020. These updates are expected to be released at the beginning of February 2020. Existing AMLCC users will be notified by AMLCC prior to the updates being released.  

Member benefits

  1. Electronic compliance manual.
  2. Online video training modules for the MLRO and staff.
  3. Updates as when law/guidances changes rather than annually.  
  4. Downloadable training certificates for MLRO and staff.
  5. Online risk assessments to determine the risk level of clients.
  6. Online client verification checks provided by Equifax on a pay-as-you-go basis.
  7. Secure online records storage for risk assessments, verifications and training. 
  8. Reporting function to allow staff to submit internal reports to the MLRO.
  9. Firm registration.
  10. Online access to client verifications via Equifax available at £3.00 plus VAT per verification with discounts available for volume purchases.
  11. Additional staff members are available at an extra cost.

Online training modules and manual

The online video and test for the MLRO and staff members are updated annually. Downloadable certificates for each person are available upon successful completion of the test. If unsuccessful the test can be resat after a period of seven days. The test questions are updated on an annual basis ensuring staff are re-trained on a yearly basis.

Online client verifications

AMLCC has partnered with Equifax to allow online access to client verifications available at £3.00 plus VAT per verification. Purchases of larger amounts are subject to discount depending on the volume purchased.

To ensure that members are compliant with Data Protection legislation, you will need to sign up to the terms and conditions offered by Equifax and provide details of their Data Protection licence and also ensure that the client engagement letter complies with the Equifax guidelines and states that they have authority to undertake online verifications on clients.