Thematic programme examinations in 2021
In November, we published our programme of thematic examinations for early 2021. We are now publishing our thematic programme for the remainder of the year 2021.
Our Supervision Examination Unit (SEU) will undertake two further thematic examinations in Q2 and Q3 2021.
Customer risk assessments
The first of these will focus on customer risk assessments. This is a result of a number of findings which continue to be identified through our examination programme. It also links to the recommendations from the National Risk Assessment (NRA), particularly the Trust and Company Services Provider chapter.
The examination’s primary focus will be on testing how well businesses obtain information for assessing the risks of money laundering and the financing of terrorism, as well as establishing how well that information is evaluated once gathered.
Monitoring of customer relationships and transactions
In Q3, the SEU will focus on the ongoing monitoring of customer relationships and transactions.
This examination will test the systems and controls in place that enable businesses to scrutinise transactions and ensure they are consistent with their knowledge of the customer. It will also look at how businesses keep documents, data or information up to date and relevant by undertaking reviews.
These examinations will consist of two elements. A questionnaire will be issued to a number of organisations, with more in depth examinations taking place at selected businesses.
Our Pooled Supervision Unit will also undertake a thematic examination of the Legal Sector in Q2 and Q3 of 2021.
The scope of the examination will include client risk assessments, use of client accounts, suspicious activity reports, employee training and knowledge and the effectiveness of compliance systems and controls; all of which are areas highlighted in the NRA.
We will be hosting a webinar on our approach to examinations on Wednesday 24 March at 14:00. Monitor our website and social media for further updates.
Meet the team of industry experts behind ComsureFind out more
Keep up to date with the very latest news from ComsureFind out more
View our latest imagery from our news and workFind out more
Think we can help you and your business? Chat to us todayGet In Touch
As well as owning and publishing Comsure's copyrighted works, Comsure wishes to use the copyright-protected works of others. To do so, Comsure is applying for exemptions in the UK copyright law. There are certain very specific situations where Comsure is permitted to do so without seeking permission from the owner. These exemptions are in the copyright sections of the Copyright, Designs and Patents Act 1988 (as amended)[www.gov.UK/government/publications/copyright-acts-and-related-laws]. Many situations allow for Comsure to apply for exemptions. These include 1] Non-commercial research and private study, 2] Criticism, review and reporting of current events, 3] the copying of works in any medium as long as the use is to illustrate a point. 4] no posting is for commercial purposes [payment]. (for a full list of exemptions, please read here www.gov.uk/guidance/exceptions-to-copyright]. Concerning the exceptions, Comsure will acknowledge the work of the source author by providing a link to the source material. Comsure claims no ownership of non-Comsure content. The non-Comsure articles posted on the Comsure website are deemed important, relevant, and newsworthy to a Comsure audience (e.g. regulated financial services and professional firms [DNFSBs]). Comsure does not wish to take any credit for the publication, and the publication can be read in full in its original form if you click the articles link that always accompanies the news item. Also, Comsure does not seek any payment for highlighting these important articles. If you want any article removed, Comsure will automatically do so on a reasonable request if you email email@example.com.