Updates: Economic Crime Supervision Handbook
2024
Health and safety/other support needed
Archive page as no longer needed
Checking customer due diligence
Addition of ECSH33325 - ECSH33329
Case management: Withholding or postponing Economic Crime Supervision (ECS) operational activity
Added link to template
Addition of ECSH33355
Addition of content
Regulation 18 - Risk assessment by relevant persons
Addition of FAQ on Regulation 18(4) concession and link to ECSH81100.
Initial contact: What to do if there is no response to initial contact
Links added to 32813, 32841 and 32620. Reference to ECSH33911 removed and replaced by ECSH33025
Added sentence to make clear that pages 71500,72000 and 73000 are not yet available
Data Protection Act 2018/General Data Protection Regulation: data retention and disposal
Replaced section 90 DPIA 2018 with section 39 DPIA 2018 as reference to section 90 was incorrect.
Checking record keeping, reliance and GDPR
Structure change this is now a contents page. Guidance moved to ECSH35210
Businesses already supervised for money laundering purposes: contents - operational guidance
41535 added to the contents page
Types of intervention: Contents
Change of ECSH32600 to contents page. Content in page moved to ECSH32601.
Corrected date used in the apportionment example.
Fit and proper and approvals: large trader registration
Reformatted page and redacted content
Part 2 - Money Laundering and Terrorist Financing: contents
remove pages from the structure 63380, 63385 and 63395
remove pages from the structure 63380, 63385 and 63395
Regulation 18A - Risk assessment by relevant persons in relation to proliferation financing:
removed pages that had been linked incorrectly 633086, 63387, 63388 and 63389
ADDED PAGES 63386, 63387, 63388 AND 63389
46000 added to the contents page
added 47500 to the contents page
added 47530 to the contents page
added 48000 to the contents page
44375 added to the contents page
Refusing an application for registration: Contents : Refusing registration: Operational guidance
added 47531 to the contents page
added 47532 to the contents page
added 47533 to the contents page
added 47536 to the contents page
removed page 44375
removed 44425
added 44380
The Register: Contents: Operational guidance: The registration process
added 44381 to the contents
The Registration process: Online application form
removed spacing
Fit and proper and approvals: Contents: Operational guidance: Fit and proper test failure
added 45835 to the contents page
added 45840 to the contents page
added 45845 to the contents page
added 45850 to the contents page
Fit and proper and approvals: Contents: Operational guidance: Government gateway account
added 45852 to the contents page
added 45854 to the contents page
45853 added to the contents page
Government Gateway Account: Common log-in issues
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Government gateway account: common application submission issues
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added 45810 to the contents page
added 45820 to the contents
added 45811 to the contents page
added 45812 to the contents page
added 45812 to the contents page
added 45815 to the contents page
Amended title
Fit and proper and approvals: Contents: Operational guidance: Fit and proper test failure
added 45821 to the contents page
added 45822 to the contents page
added 45822
added 45825 to the contents page
added 45830 to the contents
ADDED 45799 TO THE CONTENTS PAGE
ADDED 45800 TO THE CONTENTS PAGE
added 45805 to the contents page
Periods of intensification/days of action
Change in title - from "Other user interests" to "Periods of intensification/days of action”.
added 45795 to the contents page
added 45796 to the contents page
added 45797 to the contents page
added 45798 to the contents page
Regional Centre and Central Print Service text redacted
content added
Checking risk assessment and management
Changing redaction text
Establishing policies, controls and procedures
Headings changed to number 2. Title and ECSH heading removed.
Added 45000 to the structure
45790 added to the contents page
Post visit action: dealing with a lack of cooperation
Content updated
Fit and proper and approvals: Contents: Operational guidance
added 45780
45785 added to the contents page
Who needs to be declared as a responsible person? Contents
added 45791 to the contents page
added 45792 to the contents page
Initial contact: Who to contact
Redacted text "within SIP to ETMP".
Added entire page content about data protection
Added entire page content regarding reliance arrangements
Linked pages with the contents page
Checking risk assessment and management
changing content
Amended dates to 1 January 2009 for ASPs and 30 September 2008 for TCSPs
Added 34025 and 34030 to the contents page
Regulation 38 - Electronic money
Page archived
reformatted page
Ownership and Management Restrictions: content
page link reg 26 added
Regulation 35 - Enhanced customer due diligence: politically exposed persons
title change
Trust or company service providers
Subsections ECSH52025 - 52075 added
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added a sub contents page
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How to determine if a business has taken Reasonable steps
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Decision making tool (KDL/SAFCORM)
Added content to the page
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redacted content
Understanding the corporate structure
redacted text
Contemporaneous notes of meeting
Added content to the contents page, notebooks
Added contents to the contents page - digital notebooks
Case management systems and case trackers
added a page to the main contents page
Data protection and retention periods
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added page to contents page
added pages to the contents page
added and formatted all the content on the page
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updated URL to process guides
Checking record keeping, reliance and GDPR
Add page to contents page
added page to the contents page
added a page to the contents page
added content to the page
notes
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Results from initial contact/review of documents
bullet points added to the content
Project Initiation Document (PID)
Linked the page to other pages in the handbook
added URL to link
Standard Information Package (SIP)
Linked pages in the content
Linked pages within the content
added URLs to the links in the content
linked to other pages in the content
redacted part of the content and linked to other pages in the handbook.
added content to the page
added URL into a link
Added page 26000 to the contents
Title amended from Visits with other stakeholders to Periods of intensification/Days of action and content added
Title amended from Visits with other stakeholders to Periods of intensification/Days of action and content added
removed spacing and added links to the page
added bullets and links
linked pages in the content
Linked to other pages in the handbook
Visits to a business with a large number branches
added links and linked to other pages in the handbook
Visits with other stakeholders
Title amended to Visits with other stakeholders
Title amended - form Other user interests to Visits with other stakeholders
Periods of intensification/Days of action
Title amended from Visits with other stakeholders to Periods of intensification/Days of action
Content added
Changed the word cross to gross
118A and 19A added to fundamental requirements
added • Regulation 30A – failure to report any discrepancies to the registrar of companies between information held on the beneficial ownership of a customer, as a result of customer due diligence, and information on the register.
Added content to the first paragraph
Checking internal controls and compliance monitoring
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Regulation 93 - Appeals against decisions of the FCA
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Regulation 94 - Offer of review
page reformatted
Regulation 95 - Review by the Commissioners
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Regulation 96 - Extension of time
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Regulation 97 - Review out of time
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Regulation 98 - Nature of review etc
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Regulation 103 - Obligations on public authorities
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Regulation 104 - Suspicious activity disclosure
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Regulation 104A - The United Kingdom's financial intelligence unit
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Regulation 105 - Disclosure by the Commissioners
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Schedule 1 - Professional Bodies
amended link
updated link
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Schedule 4 - Supervisory Information
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Schedule 5 - Connected Persons
amended link
Schedule 6 - Meaning of "relevant requirement"
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Schedule 6A - The United Kingdom's Financial Intelligence unit
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Schedule 7 - Consequential Amendments
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Amended content links
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redacted page
Regulation 38 - Electronic money
Page archived
Regulation 60 - Cancellation and suspension of registration in a register under regulation 54 and 55
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Regulation 61 - Interpretation
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Regulation 64 - Obligations of payment service providers
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Regulation 66 - Power to require information
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Regulation 69 - Entry, inspection of premises without a warrant etc
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Regulation 75 - Meaning of "relevant requirement"
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Regulation 76 - Power to impose civil penalties: fines and statements
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Regulation 77 - Power to impose civil penalties: suspension and removal of authorisation
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Regulation 78 - Power to impose civil penalties: prohibition on management
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Regulation 83 - The Commissioners: disciplinary measures (procedure)
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Regulation 84 - Publication: the FCA
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Regulation 4 - Meaning of business relationship
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Added content to the page.
Regulation 30 - Timing of verification
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Regulation 10 - Credit institutions and financial institutions
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Regulation 40 - Record-keeping
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Regulation 46A - Annual reports by self-regulatory organisations
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Regulation 48 - Duties of the FCA: guidance on politically exposed persons
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Regulation 49 - Duties of self-regulatory organisations
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Regulation 50 - Duty to co-operate
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Regulation 52- Disclosure by supervisory authorities and other relevant authorities
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Regulation 53 - Interpretation
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Regulation 57 - Applications for registration in a register maintained under regulations 54 and 55
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Regulation 58 - Fit and proper test
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Regulation 26 - Prohibitions and approvals
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page reformatted
Schedule 3 - Relevant Offences
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Regulation 18 - Risk assessment by relevant persons
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Regulation 59 - Determination of applications for registration under regulations 54 and 55
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Regulation 62 - Transfer of funds supervisory
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Regulation 63 - Duties of transfer of funds supervisory authorities
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Regulation 27 - Customer due diligence
changed heading
Regulation 31 - Requirement to cease transactions
Changed heading
Customer due diligence: general: contents
amended title
Duties of supervisory authority: contents
Subsections added
ECSH32000 - How we check compliance
Subsection added
Regulation 28 - Customer due diligence measures
changed link
Roles and responsibilities - Role of a caseworker
content added to page
Duties of supervisory authority: contents
add contents page
Introduction – supervisors under the MLRs
add page to contents page
ECSH 64005 added to list
Added Reg 56A
Schedule 3 - Relevant Offences
redaction
removed links
Regulation 11 - Auditors and others
Links added further reading Regs 18, 19, 28.
Regulation 12 - Independent legal professionals and trust or company service providers
Further Reading links added Regs 18,19,28.
Regulation 13 - Estate agents and letting agents
Further reading links added Reg 27, 28, 35
Regulation 18 - Risk assessment by relevant persons
Further reading links added to Reg 19 and 28.
Regulation 76 - Power to impose civil penalties: fines and statements
Further reading internal guidance references added.
Regulation 21 - Internal controls
checked links
Regulation 19 - Policies, controls and procedures
checked links
Regulation 18 - Risk assessment by relevant persons
Further reading links added
Regulation 76 - Power to impose civil penalties: fines and statements
Note re Sch 3ZA added
Regulation 12 - Independent legal professionals and trust or company service providers
Further reading links added.
Customer due diligence: general: contents
Regulation 30 added to contents
Regulation 10 - Credit institutions and financial institutions
Further Reading links to Reg 30 and 37 added
Schedule 3ZA - High-Risk Third Countries
FATF list of High-risk Countries and other monitored jurisdictions "HERE" added
Regulation 11 - Auditors and others
FAQs added
Updated links in further reading
Regulation 37 - Application of simplified customer due diligence
REMOVED KNOWLEDGE LIBRARY LINK AS WON'T PUBLISH
Regulation 31 – Requirement to cease transactions etc
added link
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Regulation 27 - Customer due diligence
added links to further reading
Regulation 26 - Prohibitions and approvals
amended links
Regulation 50 - Duty to cooperate
redacted internal guidance
Regulation 69 - Entry, inspection of premises without a warrant etc
information redacted
Regulation 60 - Cancellation and suspension of registration in a register under regulation 54 and 55
redacted guidance as it mentions colleagues details.
Regulation 57 - Applications for registration in a register maintained under regulations 54 and 55
replaced links
Customer due diligence: general: contents
Regulation 28 added to contents
Regulation 40 - Record-keeping
updated links
Part 3 - Customer Due Diligence: contents
Content links added
Regulation 28 - Customer due diligence measures
page links added Further Reading
Regulation 30 - Timing of verification
links added further reading
Ownership and Management Restrictions: content
page link reg 26 added
Regulation 63 - Duties of transfer of funds supervisory authorities
content added to page
Regulation 52- Disclosure by supervisory authorities and other relevant authorities
content added to page
Part 1 - Introduction: contents
Regulations 6 & & page added
pages linked to index
Page links added
Regulation 83 - The Commissioners: disciplinary measures (procedure)
links removed as they don't work
Regulation 69 - Entry, inspection of premises without a warrant etc
removed SharePoint links
Regulation 50 - Duty to cooperate
Content added
Regulation 78 - Power to impose civil penalties: prohibition on management
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Schedule 3 - Relevant Offences
added links
Regulation 51 - Regulatory information
new content added
Regulation 62 - Transfer of funds supervisory
content added to page
Schedule 3 - Relevant Offences
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Regulation 77 - Power to impose civil penalties: suspension and removal of authorisation
Content Added
Regulation 81 - The FCA: disciplinary measures (procedure)
Content Added
Regulation 82 - The FCA: procedure (general)
Content Added
Regulation 83 - The Commissioners: disciplinary measures (procedure)
Content Added
Regulation 76 - Power to impose civil penalties: fines and statements
Content Added
Regulation 75 - Meaning of "relevant requirement"
Content Added
Regulation 64 - Obligations of payment service providers
Content added
Regulation 69 - Entry, inspection of premises without a warrant etc
Content added
line redacted
Regulation 61 - Interpretation
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Enhanced customer due diligence: contents
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Customer due diligence: general: contents
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Simplified customer due diligence: contents
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Regulation 46A - Annual reports by self-regulatory organisations
Content Added
Regulation 48 - Duties of the FCA: guidance on politically exposed persons
Content Added
Regulation 49 - Duties of self-regulatory organisations
Content Added
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Civil penalties and notices: contents
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Criminal offences, penalties and proceedings etc: contents
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content added
Decisions of the FCA: contents
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Regulation 40 - Record-keeping
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Customer due diligence: general: contents
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Enhanced customer due diligence: contents
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content added to contents page
Regulation 35 - Enhanced customer due diligence: politically exposed persons
title change
Customer due diligence: general: contents
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Part 7 - Transfer of Funds (Information on the Payer) Regulations: contents
content added
Transfer of funds (Information on the payer) Regulations: contents
content added
Part 8 - Information, Investigations and Directions: contents
content added
Information, Investigation and Directions: contents
content added
content added
Part 6 - Money Laundering and Terrorist Financing: Supervision and Registration: contents
content added
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Duties of supervisory authorities: contents
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content added
Disclosure obligation: contents
content added
Part 6 - Money Laundering and Terrorist Financing: Supervision and Registration: contents
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Customer due diligence: general: contents
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Reliance and Record-keeping: contents
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Part 4 - Reliance and Record Keeping contents
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Beneficial Ownership Information: contents
content added
Part 5 - Beneficial ownership Information: contents
content added
amend links
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Regulation 10 - Credit institutions and financial institutions
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Customer due diligence: general: contents
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Content added to contents page
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Economic Crime Supervision Handbook
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Amended the first paragraph
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Economic Crime Supervision Handbook
add content page
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links added
Financial Services and Markets Act 2000
links added
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Economic Crime Supervision Handbook
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contents page added
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link added
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Economic Crime Supervision Handbook
add contents
MLR relevant requirements: contents
add contents
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Part 1 - Introduction: contents
content added
content added
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Regulation 5 - Meaning of a beneficial owner: bodies corporate or partnership
amend title
Economic Crime Supervision Handbook
Add new content ECSH63150
Part 1 - Introduction: contents
to add content
Content added
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Regulation 2 - Prescribed Regulations
Content amended
Content amended
Sanctions for non-compliance: financial penalties: financial penalties framework: scale charge table
Table amended 4,000 to 4,999 changed from £80,000 to £70,000.
5,000 to 5,999 changed from £90,000 to £80,000.
Sanctions for non-compliance: financial penalties: financial penalties framework: introduction
Inserted: This financial penalty framework is effective from 1 April 2020 at the start of first paragraph.
added, transactions or end users in stage 1 paragraph.
2023
Sanctions for non-compliance: sanctions framework: determining an appropriate sanction
Linked ECSH 82525 to 4th bullet first paragraph.
Third column added to table - Date registration required from
Accountancy Service Providers (ASPs) added.
Sanctions for non-compliance: sanctions framework: sanctions framework
Insert 3rd paragraph 'The DM must not issue a penalty if the business had taken all reasonable steps and exercised all due diligence to comply with the relevant requirement. See ECSH 82525'
Sanctions for non-compliance: sanctions framework: determining an appropriate sanction
4th bullet amended to include and failed to exercise all due diligence.
Added sentence If the DM does not have this information, it is unlikely that they will be able to progress with a sanction
Sanctions for non-compliance: warning letters
Insert 3rd paragraph 'It must also specify the relevant period of the contravention(s) covered by the warning letter'. Inserted Link to ECSH 82850.
Sanctions for non-compliance: financial penalties: imposing a financial penalty
Added link to ECSH 82525 end of 3rd paragraph
Sanctions for non-compliance: financial penalties: financial penalties framework: introduction
Added 2nd paragraph
Sanctions for non-compliance: financial penalties: financial penalties framework: scale charge table
Removed 'for relevant clients subject to the breach' from title and short title
Amended table heading to include Transactions/End Users
Sanctions for non-compliance: introduction - sanctions
Money Laundering Regulations 2017 (MLR 2017) replaced with The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017
Sanctions for non-compliance: introduction - sanctions
and a suspension or cancellation of registration might also be appropriate in these circumstances. - suspension or cancellation linked to 83575
Sanctions for non-compliance: warning letters
Where breaches have been identified an advice letter should not be issued. - advice letter linked to 81500
Sanctions for non-compliance: prohibition on management: introduction
knowingly concerned linked to 82840
All contents under the heading Exceptional Basis removed.
Content under Accuracy and compliance checks has been added.
Sanctions for non-compliance: sanctions framework: sanctions framework
83000 changed to 83000 Prohibition on management
82000 changed to 82000 Warning letter
82500 changed to 82500 Financial penalties
83500 changed to 83500 Suspension and cancellation
84000 changed to 84000 Censuring statements
84500 changed to 84500 Injunctions
Sanctions for non-compliance: financial penalties: definitions
Regulation 83 changed to a link to Regulation 83
Schedule 6 changed to a link to Schedule 6
Sanctions for non-compliance: financial penalties: financial penalties framework: introduction
Regulation 83 changed to a link
82575 changed to a link
Sanctions for non-compliance: suspension and cancellation: introduction
Reg 54 changed to a link to Reg 54
Reg 55 changed to a link to Reg 55
Sanctions for non-compliance: financial penalties: calculating the amount of a financial penalty
Guidance amended from Trust and Company Service Providers to Trust or Company Service Providers.
Bracket added end of sentence for Type 1 and Type 2 breaches.
Guidance amended so that 'Trust and Company Service Providers (TCSP)' is now 'Trust or Company Service Providers (TCSP)'