Anti money laundering policy

Policy Statement

5.1 The Council is committed to countering bribery and corruption in all forms including money laundering and will not tolerate it in any of its activities.

5.2 All staff and those working or performing any service on or on behalf of the council be aware of their responsibilities and familiar with legal requirements. Officers considered likely to be exposed to suspicious situations, will be made aware of these by their senior officer and provided with appropriate training.

5.3 It is the duty of employees and members to report all suspicious transactions to the MLRO whether they have received training or not, using the reporting procedure.

5.4 A limit is set on payments to the Council in the form of cash, and no payment to the Council will be accepted in cash if it exceeds £5,000.

5.5 Where the Council is carrying out “relevant business” (accountancy, audit and certain legal services) and, as part of this:

  • forms an ongoing business relationship with a client; or
  • undertakes a one-off transaction involving payment by or to the client of €15,000 (approximately £13,000) or more; or
  • undertakes a series of linked one-off transactions involving total payment by or to the client(s) of €15,000 or more; or
  • it is known or suspected that a one-off transaction (or a series of them) involves money laundering; then the Client Identification Procedure must be followed before any business is undertaken for that client. This requirement does not apply if a business relationship with the client existed before 1 March 2004.