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  • Arrests made across the Northwest and London in an NCA investigation…

    • January 24, 2024
    • Posted by: FCS Compliance
    • Category: Blog, News, Property Market
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    Five men have been arrested across the Northwest and London in an NCA investigation linked to property investment fraud and money launderingWritten by Caroline Walters AICA, Director of Operations, FCS Compliance Two of the big challenges facing the property industry right now are fraud and money laundering. Money laundering and fraudulent activities are seldom discussed

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  • Economic Crime and Corporate Transparency Act 2023

    • January 24, 2024
    • Posted by: FCS Compliance
    • Category: Blog, News, Property Market
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    Economic Crime...

    Economic Crime and Corporate Transparency Act 2023Written by Caroline Walters AICA, Director of Operations, FCS Compliance The Economic Crime and Corporate Transparency Bill received Royal Assent on 26th October 2023, becoming the Economic Crime and Corporate Transparency Act 2023 (ECCTA). This is yet another law designed to tackle the estimated money laundering cost to the

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  • Meet Hannah Evans – Office Manager, FCS Compliance – Art Division

    • January 10, 2024
    • Posted by: FCS Compliance
    • Category: Art Market, Blog
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    Meet Hannah

    In this interview, FCS PR Director, Alison Blease introduces you to Hannah Evans – Office Manager, FCS Compliance – Art Division. Hannah Evans is the newest recruit to the FCS Compliance Art Division.  She joined in August last year and splits her time between FCS and PAIAM (Professional Advisors to the International Art Market) –

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  • Meet Georgie Tarry – Account Director, FCS Compliance

    • January 10, 2024
    • Posted by: FCS Compliance
    • Category: Art Market, Blog, Property Market
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    Meet Georgie

    In this interview, FCS PR Director, Alison Blease introduces you to Georgie Tarry, Account Director at FCS Compliance. If you’ve ever called FCS or attended one of their outstanding AML training sessions, chances are you’ve either spoken to or met the person behind this newsletter’s profile. Georgie is one of the longest-serving members of the

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  • NEW webinar with BIID: Anti-Money Laundering Compliance for Interior Designers

    • January 5, 2024
    • Posted by: FCS Compliance
    • Category: Art Market, News, Promotion
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    BIID

    We are delighted to announce that Rena Neville, Head of FCS Art Division, will be presenting on a new webinar in partnership with the British Insitute of Interior Designers (BIID).  The webinar will cover the topic of ‘Anti-Money Laundering Compliance for Interior Designers’ and is set to take place on 1 February 12pm – 1pm.

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  • AMPs: Is the Ultimate Beneficial Owner information on Companies House reliable?

    • October 23, 2023
    • Posted by: FCS Compliance
    • Category: Art Market, News
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    Is the Ultimate Beneficial Owner information on Companies House reliable?

    Is the Ultimate Beneficial Owner information on Companies House reliable?Written by Rena Neville, Head of FCS Compliance – Art Division In answer to the question “Can we rely on Companies House to provide reliable information on Ultimate Beneficial Owners (UBOs)?”, I am afraid the answer is no. Indeed, the UK government has in the not-too-distant

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  • Proliferation Financing for Designated Non-Financial Businesses – What This Means for the Property Market

    • October 23, 2023
    • Posted by: FCS Compliance
    • Category: News, Property Market
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    Proliferation finance

    Proliferation Financing for Designated Non-Financial Businesses – What This Means for the Property MarketWritten by Caroline Walters AICA, Director of Operations, FCS Compliance HMRC’s latest update in relation to proliferation financing states that there is a requirement for Designated Non-Financial Businesses and Professions to carry out proliferation financing risk assessments. So what exactly is proliferation

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  • When is an Art Market Participant (AMP) relieved of conducting Customer Due Diligence?

    • October 23, 2023
    • Posted by: FCS Compliance
    • Category: Art Market, News
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    When is an AMP releived of conducting CDD?

    When is an Art Market Participant (AMP) relieved of conducting Customer Due Diligence?Written by Rena Neville, Head of FCS Compliance – Art Division Some AMPs are still under the false impression that they must conduct Customer Due Diligence (CDD) on every party in every qualifying transaction. This, however, is not the case.  There are some

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  • Property Market: Four possible new models for an AML supervision

    • October 23, 2023
    • Posted by: FCS Compliance
    • Category: News, Property Market
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    AML Supervisions

    Four possible new models for an AML supervisionWritten by Malcolm Driscoll MA AICA Int. Adv. Cert (AML), Lead AML Consultant, FCS Compliance – Property Division The Treasury is currently looking at four possible new models for AML supervision and, while this is still at a consultancy stage, we at FCS Compliance are mindful of any

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  • Are You Registered? The National Crime Agency Releases New SAR Portal

    • October 23, 2023
    • Posted by: FCS Compliance
    • Category: Art Market, News, Property Market
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    NCA - SAR Portal

    Are You Registered? The National Crime Agency Releases New SAR Portal Written by Jen Siwicki BA (HONS) AICA Cert (KYC/CDD), Senior AML Consultant, FCS Compliance On 18 September 2023, the National Crime Agency (NCA) officially released a new SAR reporting portal for all reporting organisations. The reporting system is controlled by the UK Financial Intelligence

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