“All Too Familiar” depicts a scenario where a few missed due diligence checks become something altogether more serious, demonstrating the creep of poor practice towards genuine financial misconduct. The piece aims to challenge mindsets and provoke discussion on the need for greater professional scepticism when faced with potential money laundering risks. It’s a reminder that professional standards must always be applied when dealing with the very serious matter of your clients’ business.
The ICAEW has the following to say about this important resource:
“The impact of money laundering is devastating; it allows the proceeds of crime to be washed through legitimate bank accounts or businesses and funds other serious crimes such as modern slavery, drug trafficking, fraud, corruption, and terrorism. Our aim in producing this film is to help make firms more aware of how they might inadvertently assist economic crime by providing services to businesses which are laundering money or engaged in other illegal activity. In the film, we see that even longstanding clients might change how they generate their income, and this change could so easily be overlooked or dismissed due to the trust in the relationship which suppresses any sceptical thoughts.”
This award-wining training film is being used by firms, universities and companies to help with their training, Customer Due-Diligence (CDD) and risk assessment and is an invaluable tool when showing your teams how easy it is to slip into malpractice, with vigilance always necessary. Access to these films is free to all Praxity Alliance member firms through our secure portal. We highly recommend that you take advantage of these powerful training tools, which will help your people stay sharp and focused when dealing with the perils of money laundering.
For more details on how member firms can make use of the film, please contact firstname.lastname@example.org