The Institute of Chartered Accountants in England and Wales (ICAEW) has published an AML Thematic Review on the Role of the Money Laundering Reporting Officer (MLRO).
The review compiles the ICAEW’s findings on training, suspicious activity reporting, compliance monitoring, the challenges MLROs face, and the emerging risks within their client base
The report provides insights into:
- The role of the MLRO;
- Authority and seniority;
- Time, capacity and resources;
- Regulatory compliance and reporting; and
- Resources for MLROs.
MLROs and nominated officers can read the report for insights and guidance in fulfilling their responsibilities