Anti money laundering policy
Identification and Reporting of Money Laundering
8.1 The Council has designated the Section 151 Officer as the Money Laundering Reporting Officer. In their absence the Deputy Section 151 Officer may deputise as MLRO.
8.2 They can be contacted using email@example.com or at Welwyn Hatfield Borough Council, The Campus, Welwyn Garden City, Herts, AL8 6AE.
8.3 Where you know or suspect that money laundering activity is taking/has taken place, or become concerned that your involvement in a matter may amount to a prohibited act under the Act, you must disclose this as soon as practicable to the MLRO.
8.4 The disclosure should be within “hours” of the information coming to your attention, not weeks or months later. Your disclosure should be made to the MLRO using the disclosure report (Appendix A), the report must include as much detail as possible including;
- Full details of the people involved;
- Full details of the nature of their/your involvement;
- The types of money laundering activity involved;
- The date(s) of such activities;
- Whether the transactions have happened, are ongoing or are imminent;
- Where they took place;
- How they were undertaken;
- The (likely) amount of money/assets involved; and
- Why, exactly, you are suspicious.
8.5 This should be provided along with any other available information to enable the MLRO to make a sound judgment as to whether there are reasonable grounds for knowledge or suspicion of money laundering, and to enable them to prepare their report to the National Crime Agency (NCA), where appropriate. You should also enclose copies of any relevant supporting documentation.
8.6 If you are concerned that your involvement in the transaction would amount to a prohibited act under sections 327 – 329 of the Act, then your report must include all relevant details, as you will need consent from the NCA, via the MLRO, to take any further part in the transaction - this is the case even if the client gives instructions for the matter to proceed before such consent is given. You should therefore make it clear in the report if such consent is required and clarify whether there are any deadlines for giving such consent e.g. a completion date or legal deadline.
8.7 Once you have reported the matter to the MLRO you must follow any directions the MLRO may give you. You must not make any further enquiries into the matter yourself, any necessary investigation will be undertaken by the NCA. Simply report your suspicions to the MLRO who will refer the matter on to the NCA if appropriate. All members of staff will be required to co-operate with the MLRO and the authorities during any subsequent money laundering investigation.
8.8 Similarly, at no time and under no circumstances should you voice any suspicions to the person(s) whom you suspect of money laundering, even if the NCA has given consent to a particular transaction proceeding, without the specific consent of the MLRO; otherwise you may commit a criminal offence of “tipping off”.
8.9 Do not, therefore, make any reference on a client file to a report having been made to the MLRO – should the client exercise their right to see the file, then such a note will obviously tip them off to the report having been made and may render you liable to prosecution. The MLRO will keep the appropriate records in a confidential manner.
8.10 The employee must follow any subsequent directions of the MLRO or deputy and must not themselves make any further enquiries into the matter.
8.11 The employee must not disclose or otherwise indicate their suspicions to the person suspected of money laundering.