Draft guidance on digital identity
Executive summary
AAT strongly supports the need for the use of digital identity and electronic verification in the client onboarding process and its ability to help support combat money laundering and terrorist financing. AAT recognises the growing importance of the use of digital identity and electronic verification in the client onboarding process.
We acknowledge that with the transposition of the 5th Money laundering directive (5MLD) set to come into force in January 2020, greater emphasis will be placed on regulated entities to use electronic verification during the client due diligence process.
Related consultation responses
Proposed changes to the Cyber Security Breaches Survey (CSBS)
AAT would like the existing CSBS to be retained in its current format, providing annual updates continue to be made to the questions, to meet user needs.
Cyber security incentives and regulation review 2020
Our members want us to provide cyber security help, especially on identifying threats. The Cyber Security Skills Strategy is welcome but should go further.
Improving the effectiveness of the Money Laundering Regulations
AAT supports the government’s drive to combat money laundering and terrorist financing and to ensure that UK businesses are appropriately supported.
Spring Budget 2024 representation
This representation ahead of the March 2024 Spring Budget sets out AAT’s policy position on tax, professional standards, support for SMEs and late payments.
