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Are you prepared for the Money Laundering Regulations 2017?

The auctioneering and art market world is changing. Snoofa can help.

How we can help

From 10th January 2020, Art Market Participants and Auction Houses who offer Works of Art for sale over the threshold of 10,000 Euros (or its equivalent currency), must comply with the Money Laundering Regulations 2017. As part of their legal obligation under the legislation they must register with HMRC for AML supervision by 10th June 2021. Snoofa is delighted to be working with FCS Compliance to provide our clients with a complete solution and peace of mind.

Snoofa has developed a suite of fully compliant AML registration options for our tenants. Together with expertise provided by FCS Compliance, you can access a complete affordable solution.

Get in touch

Compliance Concept. Word on Folder Register of Card Index. Selective Focus.

About FCS Compliance

FCS Compliance is an established specialist in the provision of Anti-Money Laundering compliance, consultancy and training. FCS's highly-skilled and respected team are experts in financial investigation - each with a law-enforcement background across a number of police forces. FCS's collective wealth of experience mean they understand the complexities of AML legislation and crucially the measures needed to deliver absolute certainly and protection both for you and your business.

FCS Compliance’s expert team can produce a comprehensive Policies & Procedures manual and a firm-wide AML Risk Assessment so that your business is in order and you are ready for any unexpected submission request from HMRC. They also offer CPD-certified training for all levels of staff, both remotely and onsite, to ensure your training log is kept up-to-date.

FCS is an Approved Service Provider for LAPADA.

Snoofa clients have access to special rates across FCS's complete consultancy and training services.

AML Training

The specialist team at FCS Compliance are running a Foundation Level Anti-Money Laundering (AML) course specifically for the art market. Suitable for all levels, this popular course will help you fulfill your legal obligations.

AML training is a legal requirement

As a result of the ML Regulations (Amendment) 2019, that came into effect on the 10th January 2020, AML training is now legally required for art market participants (AMPs) who transact in works valued at more than EUR 10,000 (or currency equivalent) with individually or in a series of linked transactions. Your training log must be kept up-to-date and will be asked for by HMRC in advance of any compliance inspection.

This is an ideal opportunity for you and your staff to receive the essential training needed to protect your business and satisfy HMRC.

Next scheduled training courses are:

CPD-Certified AML Training For The Art Sector

It is a legal requirement for all relevant employees to receive anti-money laundering training and to stay up-to-date with the current regulations. This is a CPD-Certified AML Foundation Training Course brought to you remotely, via Zoom, in digestible sessions.

Date: 4th and 5th October (9:30am – 11:30pm) - find out more and book here.

AML Training Refresher Course – Top-up Session for the Art Sector

A CPD-Certified AML training top-up session brought to you remotely via Zoom. This refresher course will ensure that employees stay up-to-date with the current rules. Those attending must have previous experience of attending an AML Foundation Level Course in order to meet legal requirements.

Date: 6th October (11am – 12:30pm) - find out more and book here.

FCS courses are popular so if you or your employees have not yet had AML training, please register swiftly as spaces are limited.

If you have any questions, please contact the FCS team directly on 0330 043 2682.