The essential practical guide for the MLRO
Liverpool Law Society

Wed 17/01/2018 from 10h00 to 13h15

Timezone : London

Liverpool Law Society
Helix, Edmund St 2nd Floor
L3 9LQ Liverpool
United Kingdom
On the 26th June 2017, under the Fourth Money Laundering Directive (4MLD), the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 came in to force. Changes were also made to the Proceeds of Crime Act (POCA).
Under the MLR2017 and legislation it is a requirement by law to have a nominated money laundering reporting officer (MLRO) in the regulated sector. MLRO’s and their deputies will need to ensure that all policies, procedures and internal controls have been updated to incorporate the changes and training has been provided for the staff.
The course will cover:
The appointment of the MLRO
Job description - what does the role cover
The Money Laundering Regulations 2017:
Risk assessment requirements
Changes made to due diligence
Capturing of client information
Identifying the source of funds and wealth
The extended definition of a PEP
Beneficial owners
Record keeping
MLR2017 and Data Protection
Training – who, what, when and how
Reporting to the NCA – what to report and how to complete a SAR
Penalties for getting it wrong
Template documents – what records should you be keeping
The future – 5MLD