If investigated by the SRA, would your firm be compliant with the Money Laundering Regulations 2017?
As part of the Money Laundering Regulations 2017, the SRA have undertaken a review of 59 firms to ascertain how up-to-speed they are with the new machinery introduced in those Regulations. They have also published their first Risk Assessment, in reaction to the results of the Home Office and Treasury Risk Assessments, completed in December 2017. Under pressure from OPBAS and NCA they are further investigating another 400 firms.
This webinar will look at what the key roles of both the MLRO AND the MLCO should be. Note too, that despite the alternatives offered by the Regulations, the SRA expect to see both roles in most firms.
This webinar will look at the following topics:
• Wider issues – trusteeship, terrorism, cybercrime and business fraud
• MLCO role and duties explained
o MLTFR 2017 – new roles and overlap with ‘officer responsible’
o ‘Independent’ audit of processes
o Review of staff
• MLRO role explained
o Go-to person
o When fee-earners need to report an ISAR
o Reports to NCA
o Form of SAR; filing
o Timing – and waiting
o Supervising tipping off
• When should I be suspicious?
• Are we doing enough?
Do you want to continue your session?