ICAEW guide offers help with laundering rules

Link: Firms set to take drastic laundering action

These came into force on 1 March.

To help businesses, the institute’s Fraud Advisory Panel has published its ‘Cybercrime and the Proceeds of Crime Act’ which highlights potential problems connected with the new rules, particurlarly to do with the internet.

The guide explains what areas the regulations cover and which cyber offences have to be reported to the National Criminal Intelligence Service (NCIS).

These include money laundering, cyber-extortion, the sale of stolen or counterfeited goods, credit card fraud and some types of hacking.

Steve Phillippsohn of the fraud panel said the scheme was attempting to ‘raise awareness’.

To download a copy of the guide, visit the website

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