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.   

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  

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

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

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

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,

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.

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

The latest edition of the real estate publication Propertywire states “The property industry in the UK is not up to speed in terms of being compliant with anti-money laundering regulations, new research claims. A significant number of businesses in the property sector would struggle to pass an anti-money laundering (AML) spot-check with 22% without a

The company has now published a brand new ‘Anti-Money Laundering and Counter Terrorist Financing’ Handbook for legal firms that incorporates the new Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017 and the Criminal Finances Act 2017. The handbook is bespoke to individual firms and contains practical guidance in all aspects of AML including