Archive for January, 2009
31/01/2009 Human trafficker and Benefit Fraudster to payback £42K
Posted by: BTC in General News & Cases on January 26th, 2009
The first ever case of human trafficking in Cheshire ended on 23 January 2009, with the sentencing of Cai Hong Yang, 44, at Warrington Crown Court.
Yang received 16 months for the police charges against her, and an additional four months for charges of benefit fraud, brought against her by the Department of Work and Pensions. She also received a confiscation order for the sum of £42,095 for proceeds made from her business activities and cash obtained from state benefits.
On 11 December 2008, Yang, of Moorcot Court, Manchester, appeared before Judge David Hale at Chester Crown Court and pleaded guilty to four counts of managing a brothel, one count of controlling prostitution for gain and one count of trafficking a human being within the UK for sexual exploitation.
Cai Hong Yang, a Chinese national, was arrested as part of Cheshire’s response to Operation Pentameter, a national operation which aims to rescue and protect victims of trafficking for sexual exploitation. As well as aiming to identify and disrupt those involved in criminal activity, the operation is intended to increase the knowledge and understanding of human trafficking in the UK and raise awareness of the issue.Yang, who has operated under several aliases, including Nelly Yang and Tara Lee, used premises in Egerton Street, Albert Street and Sellar Street in Chester and Delamere Court in Crewe to conduct her activities.
Commenting on the case, DS Mark Fletcher said: “This is the first trafficking conviction ever in Cheshire and clearly shows our determination to deal with those who exploit others. The fact that Yang received a custodial sentence reflects the very serious nature of these offences and the tireless work that officers from Cheshire Police have undertaken over the past two years.”
Visit the BTC website for compliance help and support for firms in the regulated sector.
Ongoing Monitoring – What are the practical implementations for existing clients?
Posted by: BTC in General Information & FAQ's on January 3rd, 2009
Do the requirements to carry out ongoing monitoring of customer due diligence measures and client’s business relationships mean that you must obtain a passport and utility bill from your existing clients or that you must investigate all the business affairs of your clients?
For many existing clients which date from 1 March 2004 you will have obtained verification of their identity under the 2003 regulations. For those clients you will need to consider whether the information you hold is sufficient, based on your risk assessment of the client , to demonstrate your have taken appropriate steps to verify the identity of your client and whether anything has changed in the period to render that information out of date. For clients whose situation, address, name and business has not changed since you last considered their identity we would suggest you need do no more than commit your risk assessment and review to the file.
For clients where the situation has changed or who predate 2004 you may well have obtained official verification of matters such as name and address through correspondence with government offices, bank statements and similar official channels. It is suggested that you undertake these checks during the planning for the next engagement for the client.
The key issues are:
- Have you undertaken a risk assessment of the client ?
- Do you have information which supports your verification of the client’s identity and which is consistent with your risk assessment?
- Can you demonstrate what you have done if asked to evidence your customer due diligence measures?
Visit the BTC website for compliance help and support for firms in the regulated sector.
01/01/09 Important Notice for Accountancy Service Providers who have failed to apply for Money Laundering Regulations Registration.
Posted by: BTC in HMRC News and Guidance, Professional Bodies on January 1st, 2009
If you are in business as an Accountancy Service Provider and are required to register with HMRC or an approved professional body under the Money Laundering Regulations 2007 you are trading illegally if you missed the deadline of 1 January 2009 and may be liable to a penalty or criminal prosecution.
To avoid penalties or prosecution, however, make an unprompted disclosure and send HMRC your completed application form MLR100 and appropriate fee (£95.00) without further delay. Forms and fees should be sent to:
Money Laundering Regulations Registration Team.
7th Floor, Alexander House, 21 Victoria Avenue Southend–on-Sea, SS99 1AG
If you are prompted over non registration by your supervisor either by letter or by phone, the minimum penalty will be £500.
The penalty for breaches of the registration process is up to a maximum of £5,000 if the breach was a failure to take reasonable steps. However this can be increased if the breach was deliberate. This will also include future amendments to your registration details.
Visit the BTC website for compliance help and support for firms in the regulated sector.
