Money laundering is something that all businesses need to be aware of and do their best to protect against. It costs the treasury billions of pounds annually and being aware of what to look for is an important part in stopping it. Here are three proactive things you can do as a business to help protect yourself…
Making sure that you do all you can to ensure that your customers are not money laundering is unfortunately something that is necessary for businesses to do now. There are professional companies who can help you with this, such as w2globaldata who provide a know your customer service. This will help to give you peace of mind when doing business.
Providing training to all of your staff advising them of the things to look out for and how to recognise financial crime is something all companies should be doing. In particular, those staff who work specifically in the financial side of the business should have a good level of awareness when it comes to looking out for potential illegal behaviour around finances and should know then to report any suspicions that they have.
Keep up to date with training and also with the things to look out for. Unfortunately, crime and criminals are always adapting and evolving, so it is up to you to ensure that you stay up to date with this and be aware (as well as regularly making your staff aware) of these changes and the things they ought to be looking for.