Businesses, especially those susceptible to exploitation by financial criminals, are at the forefront of the fight against money laundering and terrorist financing. Their AML/CFT obligations include monitoring transactions for signs of suspicious activity and filing suspicious transaction reports with the Financial Intelligence Analysis Unit.
These reports supply the data the FIAU needs to provide money laundering and terrorist financing intelligence to law enforcement agencies.
Possibly, an MLRO’s biggest dilemma is initially to determine what is suspicious and whether the case should be reported to the FIAU.
Apart from discussing the responsibilities of the MLRO vis-à-vis identification and reporting of STRs, this presentation will mainly focus on presenting case studies in order to tackle the three concepts of Knowledge, Suspicion and Reasonable Grounds to Suspect, as well as looking at the aftermath of filing a report.Download Event Brochure