Lipkin’s involvement with the multi-billion dollar fraud investigation led him to plead guilty on six criminal counts, including adding fake employees to the payroll, lying to get a loan and doctoring documents.
With the most serious of his charges carrying a maximum 30-year prison sentence, it brings the seriousness of money laundering and the profession of payroll into the spotlight. The CIPP says compliance for the payroll industry is paramount and that members should feel reassured by the CIPP’s support.
CIPP CEO Lindsay Melvin commented: “What we are reading in the news is evidence that money laundering is a real threat for our profession; payroll cannot lose the integrity and respect that it has gained and at the CIPP we support any guidelines to help prevent the industry being brought into disrepute”.
Many in payroll may not be aware that in some circumstances payroll provision needs to be regulated for money laundering purposes, so the CIPP is hosting a money laundering webinar on 8 June. Go to www.cipp.org.uk for details of times and pricing.
