30.11.10 Accountant fined £1,080 for a failure to verify a client

November 30, 2010  |   General News & Cases,Professional Bodies   |     |   0 Comment

The ICAEW has made the following regulatory decision in a case for a failure to verify a client in accordance with the Money Laundering Regulations.

Consent Orders made on 1 June 2010

With the agreement of Andrew Nigel Hamilton of 38 Dean Park Mews, Edinburgh EH4
1ED, the Investigation Committee made an order that the member be severely
reprimanded, fined £2,000 and pay costs of £1,080 with respect to a complaint that:

In February 2007, Mr A N Hamilton FCA acted for X on behalf of his firm, Y, when he
had failed to verify her identity or keep records of the evidence obtained, contrary to
section 18 of the anti-money laundering ‘Second Interim Guidance for Accountants’

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