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Jonathan Fisher QC on effect of Money Laundering Regulations 2017 for SMEs in The Brief

The Money Laundering Regulations 2017 introduce significant changes to the approach to Customer Due Diligence undertaken by regulated firms. On 5 July 2017 Jonathan Fisher QC was asked by The Brief, an online supplement published by The Times, to provide expert analysis of the effect of the Regulations on firms, from SMEs to global companies. A key requirement of the new Regulations is the need for firms to arrange an independent audit of their anti-money laundering risk management procedures. Emphasising the principle of proportionality, Jonathan observed that, “If you are a small firm, I don’t think the authorities are going to expect you to incur a significant expense by getting an outsider to check over your money laundering procedures as long as the internal person doing it is independent of the compliance function.”

A detailed analysis of the Regulations is published in The Brief (Premium), 5 July 2017. To subscribe to The Brief and access the analysis, click here.

Founded by Jonathan Fisher QC, one of the UK's leading barristers in white collar crime cases, Bright Line Law is a barrister law firm which specialises in money laundering. Bright Line Law is happy to discuss any aspect of the Money Laundering Regulations 2017 with you.

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The views expressed in this article represent those of the author and not Bright Line Law.

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