ACCA AAA INT Syllabus A. Regulatory Environment - How Accountants May Be Protected - Notes 5 / 11
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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Scope of Money Laundering
Syllabus A. Regulatory Environment
A2. Money Laundering
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Ethical Framework or Rules
Syllabus A. Regulatory Environment
A2. Money Laundering