Money laundering comes as a huge cost to the UK.
Estimates are that serious organised crime enabled by money laundering costs the UK £37bn every year and £90bn is illegally laundered through Companies House registered shell firms.
The National Crime Agency warns: “Accounting and legal professionals, and estate agents, can be criminally exploited – this is sometimes complicit, sometimes negligent, and sometimes unwitting – yet this small minority of people can pose a very significant threat.
Businesses can also play their part in preventing money laundering and reducing the risk not only to their own organisation but to the wider UK economy as well as other potentially effected 3rd parties.
The exposure of important sectors of the economy to financial crime – and the appalling activities it helps to finance – make it imperative that we do everything we can to combat money-laundering. Manual document checks simply don’t cut it in this day and age. The possibilities for fraud and even simple human error are just too great.
That’s why we have an Anti-Money Laundering module within the Risk Dashboard’s advisory and consultancy software.
Our aim is to identify and help business owners to understand the type of questions that it needs to be asking itself when it comes to on-boarding new clients or suppliers, as well a number of other thought provoking questions that could have an effect to its reputation and potential fines.
At the Risk Dashboard we now refer our modules as ‘AfFP’s’ or your Areas for Future Profit.
We see the users of our software starting to reduce their operating costs as a result of completing an audit, by working through the task management function, as well as generating increased revenues by applying best-practice.
If you would like to learn more about the Risk Dashboard’s advisory and consultancy platform, I’ve placed a short introductory video here to help, or why not get in touch with your accountant or local Chamber of Commerce to request a licence?
You can visit our website, or contact Neil Campbell, Commercial Director on neil.campbell@riskdashboard.co.uk or info@riskdashboard.co.uk. We look forward to hearing from you.
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