Insights on AML Compliance

As ID verification with Companies House comes into effect, firms are expected, in most cases, to use both biometric and cryptographic checks to verify clients with Companies House.

Before Firmcheck, Edwards’ AML compliance processes were fragmented because available tools were not built for the complexity of the work. By adopting Firmcheck well before an audit was on the horizon, the firm had already made substantial progress towards a centralised, streamlined system.

If you have ever spoken to a solicitor about their work, you will know they rarely shy away from billing for their time. For them, tasks like identity checks are just part of the job and part of the invoice...

Firmcheck announces the public beta launch of its Open API, a powerful new way for firms to integrate AML compliance into their existing systems. Built in response to customer feedback, the API enables real-time client syncing, automated workflows, and direct integration with CRMs and practice management tools. Discover how this API release allows firms to gain greater control, flexibility, and efficiency in their compliance processes.

Confused about the Companies House UK 2025 changes? Walk through the steps with us to quickly and confidently verify clients.

Record-keeping, as referred to in this document, refers to the documentation the firm is required to retain for AML compliance purposes.

AML compliance tools can be a significant investment for accounting firms, not just in money but also in the time and effort needed to adapt to change and remain up-to-date. If the costs are recognised, it may be possible to recover some of them in the firm’s proposal and onboarding processes but, in any event, being fully aware of the costs will help to control them.

Modern AML compliance requires a systematic approach that leverages technology while maintaining robust processes and human oversight. This guide explores how accounting firms can create an integrated system that manages AML tasks effectively while strengthening client relationships and ensuring regulatory compliance.

Selecting the right AML solutions for your firm is crucial for both compliance and efficiency. Modern AML solutions range from electronic ID checks to comprehensive compliance platforms, each offering distinct advantages and limitations that must be carefully considered. Among the resources available to firms are templates and checklists created by the supervisory authorities, which tend to be free of charge.

The duties and powers of a supervisory authority set out within MLR 2017 give us a good indication of what a supervisory authority would want to see during an AML compliance visit.

Anti-Money Laundering (AML) compliance represents a significant investment for accounting firms, encompassing both direct financial costs and indirect operational expenses. Understanding these costs and implementing effective optimisation strategies is crucial for maintaining robust compliance while managing resources efficiently.

Effective Anti-Money Laundering (AML) compliance is crucial for UK accounting firms to safeguard against financial crime and adhere to regulatory obligations. Central to this compliance framework are the clearly defined roles and responsibilities of individuals and teams tasked with implementing AML measures. This article explores the key AML roles, their responsibilities, and how they contribute to a robust compliance culture.