• Doing business with the FSA
  • Small Firms
    • Credit unions
      • Financial Crime & Money Laundering
        • Anti Money Laundering (AML) - Good and poor practices
        • Financial Crime - Good and poor practices

Following from our newsletter (edition six), we have expanded on the examples of good and poor practice seen during the project visits.

These examples can be compared with your own practices. Whilst they do not cover every situation, they are intended to assist credit unions in reviewing current procedures. Some of the elements of good practice referred to below also relate directly to Anti Money Laundering rules and guidelines.

Anti Money Laundering (AML)

• Policies and procedures
• Training
• Money Laundering Reporting Officer (MLRO)

Financial Crime

• Controls and monitoring
• Data control
• Policies and procedures