NCIS said its assumption was that the number of money laundering reports it receives would double to around 200,000 this year, but claimed it was ready.
Nigel Coles, NCIS assistant director and head of the financial intelligence division, defended the policy of obliging accountants and others to report all suspicions of money laundering, regardless of the amount.
In an interview with the Financial Times, Coles said: ‘In terrorist cases it is relatively lesser levels of funds that support day-to-day activity.’ The compliance burden on accountants had been minimised, he claimed.
Mark McMullen joins the private client services team from Smith & Williamson
Merger between Clear & Lane Chartered Accountants and Magma Chartered Accountants was finalised on 3 February
BDO has taken its new partner intake to 23 during the first half of its financial year, including the appointment of five partners in five weeks
The firm reports 7.6% global fee income growth for the year ending 31 December 2016