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Anti-money laundering – combating
economic crime and terrorism
Money laundering is a serious concern public sector such as Derek Elliot Head be a further bureaucratic imposition and
for organisations in the public sector of Governance and Counter Fraud this DVD explains how concerns can be
and the rising challenges show no signs Practice (GCFP), Audit Commission. dealt with simply and efficiently.
of abating. It’s essential that all public sector
Approximately £500 billion is What is money laundering? organisations embrace the underlying
laundered worldwide each year. Money laundering is the term used principles of the money laundering
According to the Financial Services for a number of offences involving legislation and regulations, with
Authority (FSA) £25 billion of that goes the integrating of policies in place which
through the UK. ‘dirty money’ (ie the employees can refer
All good organisations have a role in proceeds of crime) to upon suspicion of
combating money laundering and its into the mainstream such activities. And
associated crimes and it is important economy. The DVD organisations should
that staff who may be concerned about explains to employees aim to have appropriate
money laundering can find the support what to do if they training and support
they need. suspect an offence arrangements in place.
reportable under key
Launch of CIPFA’s anti-money legislation such as: An invaluable
laundering training resource r Money Laundering resource
CIPFA’s anti-money laundering DVD Regulations This DVD training
training resource, which was launched 2003/2007 resource equips
at the Audit Conference in April, will r Proceeds of Crime Act members and
help public sector organisations raise 2002 organisations to deal
awareness of the risks of money r Terrorism Act 2000 with situations where
laundering, terrorist financing and r Terrorism Act 2006 associated activities arise, enabling
terrorism. In-house training for staff or them to get up-to-date on the latest
training for those delivering training Warning signs include activities issues, regulatory requirements and
within their organisation is also involving large cash payments where: best practice standards.
available from CIPFA. r there is no reasonable explanation More information about this
This comprehensive DVD is based and/or resource can be found at
around film-clip scenarios and includes r it makes little financial sense. www.cipfa.org.uk/amltraining
presentations from key figures in the Reporting economic crime need not
Risk management toolkit
Public bodies seeking to improve their risk management arrangements
will benefit from a new web-based improvement tool from the CIPFA Better
Governance Forum. The easy to use tool features good practice guidance
as well as access to 14 featured case studies and over 50 risk management
documents. The tool is free to subscribers of the Better Governance Forum.
www.cipfanetworks.net/governance/riskmanagement/
CIPFA | Spreadsheet magazine | JUNE 2009 21
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