Invoice finance is hardly a new idea – it’s been round in some form for hundreds of years. As we speak, it’s utilized by hundreds of businesses worldwide – of all sizes and styles – as a dependable method of generating working capital. Firms within the scope of the Money Laundering Regulations are required to retain data of the identification of their prospects or purchasers during the business relationship and for five years after the termination of the enterprise relationship or after an occasional transaction has been completed. Specific transaction information must be retained for five years from the date the transaction was accomplished, or common transaction information until the enterprise relationship ends.
Failure to keep accounting data in accordance with the above requirements might render each officer of the corporate liable to a nice, imprisonment or each (Companies Act 2006, part 387). I loose angels in the mighty title … Read More