VAs and Anti-Money Laundering Regulations – is there an easy way out?

There continues to be an elongated debate about what bookkeeping and accounting services may expose you to if you process invoices, expenses, supplier payments and other financial transactions.

It is actually very, very clear – all VAs undertaking any bookkeeping or accounting related tasks should familiarise themselves with the regulations and understand what the anti-money laundering regulatory framework requires of processing transactions.

Everyone has to take ownership of their own responsibility (including employees, sub-contractors etc.).

Each VA must decide if they need to be registered depending on what they do and what they are processing.

General statements about VAs will not protect you if you are doing something that you shouldn’t be doing!

This topic coveered by a leading expert authority at the UK VA Conference this year, the Institute of Certified Bookkeepers. There are numerous real qualified experts out there – and a good starting point is here:

Do make yourself familiar with the requirements and register if you need to, and of course – as the regulation rqeuires, do report issues of suspicion when you discover them.

About The Author


WORKSMARTPA – NEW IDEAS, NEW FRONTIERS The year 2021 sees our business celebrate 21 years of - a community supporting office professionals since our very first newsletter way back in May 2000. As we look forward to greet a new world of change beyond the pandemic, we are extremely excited to announce a new brand; a new look; and some new directions for our much loved, long-standing web site and communities to explore. It is time for change. To better reflect now what we do best for you, we have a new brand, web site and activities – a new name and web site that will be full of new ideas for a new business age and new working trends as we all seek to grow, expand and explore new frontiers.

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