Commentary

85 Money laundering reporting officer

BUILDING SOCIETIES vol 6(1)

85 Money laundering reporting officer

85 Money laundering reporting officer

A building society must have a money laundering reporting officer1. The money laundering reporting officer is responsible for receiving internal reports2, taking reasonable steps to access any relevant know your business information, making external reports to the National Criminal Intelligence Service3, obtaining and using national and international findings4, taking reasonable steps to establish and maintain adequate arrangements for awareness and training5 and making annual reports to the society’s senior management6.

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