News
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5th EU AML Directive Guidelines
- December 10, 2019
- Posted by: FCS Compliance
- Category: Blog, News
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UPDATE: 9 January 2020 As of today, the details for the amendments to the 5th EU Anti-Money Laundering (AML) Directive have now been confirmed. From 10 January 2020, lettings agents will need to adhere to the latest legislation or risk significant penalties from HMRC. What are the key points to be aware of? Lettings agents
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LonRes Acquires Leading Specialist AML Consultancy
- September 29, 2019
- Posted by: FCS Compliance
- Category: News
As part of its ongoing commitment to supporting property professionals, LonRes, the subscription-based business-to-business trading platform, has acquired FCS Compliance, formerly known as Financial Crime Services. The LonRes acquisition comes at a time when HMRC is targeting estate agents as part of a wider money laundering crackdown. In recent guidelines it made clear that they
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FCS exhibiting at the Law 2019 Conference in Cardiff
- August 14, 2019
- Posted by: FCS Compliance
- Category: News
On September the 10th & 11th FCS will have a stand at the SOLICITORS Group 2019 Conference being staged at the Mercure Holland Hotel in Cardiff. The company will have Stand number 3 at the Conference.
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FCS Compliance launches new AML Compliance Health check for Propertymark members
- August 14, 2019
- Posted by: FCS Compliance
- Category: News
To see the full announcement and details of the service being provided click here: https://e.arbonhouse.co.uk/t/Z6K-6FCRS-AEL7XWOFE8/cr.aspx
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FCS Compliance now offering full CDD service
- March 8, 2019
- Posted by: FCS Compliance
- Category: News
As of the 1st April 2019 the company will now be offering a unique complete CDD services to estate agents consisting of the following: 1. Online verification of the client 2. Land Registry searches 3. PEP checks 4. Open source research 5. Risk analysis of the client 6. Source of funds checks 7. Written Policies
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EU 5th AML Directive to be transposed into UK Legislation by January 2020
- February 12, 2019
- Posted by: FCS Compliance
- Category: News
The 5th EU AML Directive was passed in June 2018 giving member states until the 10th January 2010 to transpose the legislation into domestic law. The key points addressed in the Directive relate to: Cryptocurrencies Beneficial Ownership Enhanced Due Diligence in respect of high-risk third countries Thresholds for Prepaid Cards and E-Money transactions will be
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Managing Director of FCS Ltd to speak at Propertymark NAEA Annual 2019 conference
- November 2, 2018
- Posted by: FCS Compliance
- Category: News
The Managing Director of FCS Ltd, Jerry WALTERS, has been invited to speak at Propertymark NAEA Annual 2019 conference in the City of London on the 14th February. Jerry will cover new developments in the world of AML such as the 5th EU AML Directive, the impact of the Criminal Finances Act 2017 and developments
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5th EU AML Directive has now been approved and focuses on virtual currencies and Beneficial Ownership
- July 24, 2018
- Posted by: FCS Compliance
- Category: News
On the 19th April 2018, the European Parliament adopted the 5th Anti Money Laundering Directive. The Directive has been formally endorsed by the European Council and the text has been published in the Official Journal of the European Union on the 19th June 2018. Member States will be required to bring into force the laws,
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5th EU AML territories will have to make public the real owners of all their registered companies by the end of 2020
- July 24, 2018
- Posted by: FCS Compliance
- Category: News
The British Virgin Islands, one of the territories, complained that by imposing a public register the UK would “undermine the constitutional relationship” and hurt the islands’ economies. The UK’s measure, which is part of the Sanctions and Anti-Money Laundering Bill, does not apply to the crown dependencies of Jersey, Guernsey and the Isle of Man.
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The Sanctions and AML Act receives Royal Assent
- July 24, 2018
- Posted by: FCS Compliance
- Category: News
What does this mean for UK sanctions? These amendments may initially seem uncontentious but if implemented, the first will result in a significant widening of the UK’s power to make unilateral sanctions. The current legal framework is largely derived from EU sources, with the domestic regime being very limited in its scope. When the Sanctions
