What is a Money Laundering Reporting Officer?

Money laundering is a serious crime that has been estimated to cost the UK economy in excess of £24 billion a year. As a result of the continued developments in this arena, the UK has implemented a number of regulations and practices to help combat this significant and socially damaging crime. One of the key roles in increasing the effectiveness of this fight against illegal financial activity is the Money Laundering Reporting Officer (MLRO) who is responsible for ensuring that the organisation they work for is compliant with the wide range of regulations and practices set out by the UK government. Two particular legal obligations are the focus of their work: the Proceeds of Crime Act 2002 and the Money Laundering Regulations 2017.

 

Read the full story by

Tags:

RELATED READS
G-Cube LMS V8: The much-needed differentiator for your employee learning Why a Well-Designed UI/UX is Essential for eLearning Design and Development
We are updating our Privacy Policy, so please make sure you take a minute to review it. As of May 25, 2018 your continued use of our services will be subject to this new Privacy Policy.
Review Privacy Policy OK