What services does ABM Global Compliance offer to debt collection firms?

ABM Global Compliance provides a range of services including FCA authorisation, AML/CTF policy development, risk management frameworks, governance and internal controls, regulatory reporting, and ongoing compliance support.

How can ABM Global Compliance assist with FCA authorisation?

We assist debt collection firms in obtaining FCA authorisation by preparing the necessary application documentation, establishing governance structures, and ensuring compliance with regulatory requirements.

What is included in AML/CTF & KYC/KYB policy development?

Our services include the development and implementation of anti-money laundering, counter-terrorist financing, and know-your-customer/business policies tailored to the specific needs of debt collection firms.

Why is a risk management framework important for debt collection firms?

A robust risk management framework helps debt collection firms identify, assess, and mitigate potential risks, ensuring compliance with regulatory requirements and protecting the firm's reputation.

What does ongoing compliance support entail?

Ongoing compliance support includes continuous monitoring of compliance status, staff training, and updates on regulatory changes to ensure debt collection firms remain compliant with evolving regulations.

Debt Collection Compliance | FCA Regulatory Guidance

Overview

Debt collection agencies are responsible for recovering outstanding debts while adhering to legal and regulatory requirements governing communication, data protection, and dispute resolution. Fair, ethical, and lawful treatment of consumers is critical to maintaining compliance and protecting reputations. ABM supports debt collection firms in implementing policies, procedures, and controls that ensure compliance with FCA regulations, safeguard vulnerable consumers, and maintain audit readiness.

Key Compliance Challenges

FCA Authorisation for Debt Collection

Debt collection firms must secure the appropriate FCA permissions and ensure ongoing compliance with regulatory requirements, demonstrating proper governance and operational control.

Fair Treatment and Communication Practices

Agencies must communicate transparently with clients, adhere to traceability standards, and follow approved contact procedures to protect consumer rights.

Vulnerable Customer Identification and Protection

Debt collectors must have systems in place to identify vulnerable individuals, provide additional safeguards, and prevent undue pressure or harassment.

Record Retention and Dispute Resolution

Maintaining comprehensive records of communication, complaints, and resolutions is essential for regulatory reporting and internal audit purposes.

AML and Data Protection Compliance

Agencies must implement AML protocols, verify client identities, and ensure that all personal data is handled securely and in compliance with data protection laws.

How ABM Can Help

Licensing Application

ABM guides firms through FCA application filing, document and process reviews for regulatory compliance, and onboarding for ongoing compliance setup.

Ongoing Compliance Support

We help establish communication scripts and policies, implement AML and traceability verification, flag vulnerable customers, and create complaint handling standard operating procedures (SOPs).

Regulatory Reporting

ABM assists with breach reporting, redress outcomes, dispute escalation records, and timely submission of FCA-required reports.

Specialized Training

We deliver tailored training on fair collection practices, vulnerable customer identification, AML and traceability protocols, harassment prevention, and dispute resolution processes.

Audit & Assurance

Our services include file sampling, reviewing debt contact logs, testing treatment of vulnerable consumers, AML screening audits, and assessment of complaint handling and outcome recording.