How Accountants May Be Protected

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All partners are potentially liable on a joint and several basis for breaches of the firm's obligations

General Defences

Defences to money laundering offences include:

  • Reporting to the MLRO

  • Intending to report BUT there was a reasonable excuse for not doing so (fear of violence)

  • We thought the client's actions were in good faith (and it's a reasonable assumption)

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