Commentary

A7.105 Failure to disclose—nominated officers in the regulated sector

Administration and compliance

A7.105 Failure to disclose—nominated officers in the regulated sector

A7.105 Failure to disclose—nominated officers in the regulated sector

An MLRO nominated to receive disclosures under the provisions described in A7.104 commits an offence if:

  1.  

    (a)     he knows or suspects (or has reasonable grounds for knowing or suspecting) that another person is engaged in money laundering

  2.  

    (b)     the information or other matter on which his knowledge or suspicion is based came to him in consequence of a disclosure made under the provisions described in A7.104

  3.  

    (c)     either:

    1.  

      –     he knows the identity of the other person mentioned in (a), or the whereabouts of any of the laundered property, in consequence

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to TolleyLibrary or register for a free trial