- November 28, 2022
- Posted by: FCS Compliance
- Category: News
Congratulations to all those who triumphed at this year’s Negotiator Awards held at The Grosvenor Hotel in London last Friday evening.
The FCS team is delighted to again be recognised by the judges and be ‘Highly Commended’ in the busy ‘Supplier of the Year: Products & Services (Business)’ category. We proudly remain unique in the marketplace – unchallenged in our scale, collective wealth of experience and expertise, and with a comprehensive range of cost-effective services that are tailored to meet every AML requirement.
Over the course of the last year, government has continued to focus on tackling money laundering in the UK and those working in these high-risk, regulated industries, such as the property market, have witnessed a sizeable increase in activity by HMRC.
In fact, in the first half of 2022, 4 times as many agents have reported being contacted by HRMC inspectors to the FCS team than the whole of 2021.
An official review recently conducted by HM Treasury found that deficiencies in money laundering and terrorist financing (ML/TF) risk assessment and understanding remain across the sector, with inadequate processes and documentation commonplace. The need for support from a trusted source is evident and consequently demand for our services has increased significantly.
With Anti-Money Laundering (AML), and the processes and practices regulated businesses need to have in place, only set to become more vital, FCS Compliance remains passionate about helping even more businesses face their legal duties in the year ahead.
If you require any assistance with your AML obligations, please contact our friendly team who are on hand to help.