If you are unaware of something because it was hidden from you that should be fine.
However, you cannot claim ignorance as such, so for example if they are not charging VAT but claiming 20%, you cannot say that as an employee you are not responsible for MLR compliance.
That was a bit of a basic example, but as long as you keep an eye out and seek advice/confirmation on any doubts, you will be fine. Don't bury your head in the sand and just ignore something if it feels wrong thinking you're protected.
EDIT: spelling
-- Edited by ICBUK on Friday 25th of May 2012 02:53:45 PM
I currently work as a full time bookkeeper for company, but I have been asked to work part time for another company essentially as a bookkeeper, but i will be employed by them, do i still need to deal with the money launderung side?
There is always a requirement for MLR compliance, but if you are employed you do not need to report/review to a supervisory authority.
You can still be held accountable if the company you work for is breaking the law, avoiding tax etc, and even more so if you are an accountancy professional (being paid to do some bookkeeping/accounting/payrol).
So if i am an employee, processing information provided to me by my employer and it turned out that there was something happening that I was unaware of I would be held accountable?
Is there anything that I can do to protect myself? As far as i am aware it is a completely legitimate company, however your comments have made me concerned.
Sorry, what I meant was that if you are employed you do not need to carry out your own client checks (ID, proof of address etc). If your employer is a body regulated by MLR (an accountant , or bookkeeping business etc) then you have reporting procedures to follow if you suspect there is a problem.
If you are working for a business that is not regulated (Plumber, carpenter, newsagent etc) then you are only obliged to report criminal activity that you become aware of, like any other person would/should. Otherwise there is a risk of aiding and abetting etc.
I think that VAT fraud as in James' example would be a SOCA report, or HMRC
