Be aware of financial activity alarm bells, warns CCAB Anti Money Laundering Taskforce

Accountant’s “professional scepticism” is the first line of defence in tackling money laundering and terrorist financing, says guidance issued today by the Anti-Money Laundering Taskforce of CCAB, the collective forum of accountancy bodies ICAEW, ACCA, ICAS, CIPFA and Chartered Accountants Ireland.

The advice lists a number of red flags which accountants and finance professional need to be aware of, from wire transfers following cash deposits to negative media coverage about the client or company.