Financial Crime Risk Return 2021
8th July 2021The Financial Crime Risk Return (the “FCRR”) for the reporting period 1 July 2020 to 30 June 2021 will be available for completion on the Online Submissions Portal on 13 July 2021. The submission deadline is 31 October 2021.
Following the Commission's previous announcements and after consultation with industry, updates made to the 2021 FCRR include:
- Additional reporting on suspicious activity and tax related disclosures;
- Further information on AML/CFT governance and compliance arrangements;
- Controls for identifying PEP connections, adverse media and sanctioned parties;
- Additional information on periodic risk reviews; and
- Revised geographical data in relation to customers.
A list of new questions has been included within the guidance document. All firms required to complete the FCRR should consult the guidance document prior to completing the 2021 FCRR to ensure the correct data is provided.
Information will be circulated to prescribed businesses next week regarding the additional information to be reported in the 2022 FCRR.
Should you have any queries regarding how to complete the FCRR, please consult the guidance document in the first instance, prior to emailing [email protected]