Is the main point of contact in relation to receiving reports of any information or other matter,
coming to the attention of a person handling relevant financial activity, which gives rise to any type of knowledge or suspicion of money laundering.
Investigate reports in light of relevant information in order to determine if the information or other matter does give rise to such knowledge or suspicion.
The MLRO should have reasonable access to other information which may assist in considering suspicious money laundering reports.
Report and disclose to the Reporting Authority (FIAU) if after considering such report there is knowledge or a suspicion of money laundering.
The MLRO should establish and maintain a register of money laundering referrals made to him by the company and individuals.
Establish a clear customer verification procedures and AML polices while ensure adequate training of key staff.
Ongoing monitoring of business relationships and Internal procedures ascertaining maintenance of anti-money laundering whilst updating records for the required periods.
Ensuring that internal auditing and compliance departments regularly monitor and make recommendations for up to date systems on vigilance.
Maintaining updated procedures and manuals so that in the event of a suspicious activity being discovered, all staff are aware of the reporting chain and procedures to follow.
Keeping abreast with any regulatory obligations updates both locally and from the EU commission.