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Anti Money Laundering (AML)


This article relates to MalgraBooks Advanced and Premium account holders only

You will find details of our AML processes within your MalgraBooks welcome pack, and instructions on how to provide your details to our team for processing. We are unable to begin any work on your accounts until this has been provided.

You can also find your AML Record within your Client Portal.


All accountants and bookkeepers must comply with the Proceeds of Crime Act 2002, the Terrorism Act 2000 and most recently, the Money Laundering Regulations 2017 (the “Anti Money Laundering Legislation”), which are intended to stop the activities of terrorists and other criminals by preventing them using accountancy services. If we do not comply with this legislation, we risk imprisonment, as well as the client.

In order to comply with these rules, we have to confirm your identity. At any time we may also need to obtain evidence confirming the identities of third parties, the source of any money or funding of property or other assets, and other matters.

We assume that our clients are honest and law abiding. However, if at any time we have grounds to suspect that crime is being committed, we are obliged to make a report to the National Crime Agency (NCA). We are prohibited by the legislation from telling you that we have done this. In such circumstances, we cannot do any work for your company without consent from NCA.

‘Criminal property’ is money, property, other assets, rights or any benefit derived from criminal activity. Activity is considered ‘criminal’ if it is a crime under UK law, no matter how trivial. Tax evasion is a criminal offence but an honest mistake is not.

It does not matter who carried out the criminal activity. Even if you are honest in your dealings, if your property represents a benefit from someone else’s crime, we must still make a report.

Disclaimer: We will not be liable for any loss suffered by you or any third party as a result of our compliance with the Anti Money Laundering Legislation or any UK law.

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