The MLCO & MLRO Roles Explained - SuperSARS & More
This webinar is aimed at all MLCOs, MLROs, deputies and departmental champions in the legal, accountancy, insolvency and other professional sectors including financial and credit institutions.
It will cover the role, duties and ethos of the MLCO as overall supervisor of AML systems and procedures, and of the MLRO as a recipient of reports and enquiries of suspicious activity in the regulated and unregulated sectors.
Do you know when your staff are right to be suspicious? Should you trust their hunches? When should you put them on enquiry?
These and other questions will be covered as well as how to deal with investigations, offences to avoid and the fear of tipping off.
The new proposals for the SuperSARs system will also be explored.
What You Will Learn
This webinar will cover the following:
- The key duties of the MLCO - as distinct from the ML Reporting Officer
- Staff appraisals
- Independent audit of systems and procedures
- The key duties of the MLRO - as distinct from the ML Compliance Officer
- The crucial role of the MLRO as recipient of reports
- The MLCO / MLRO as adviser and FPOC
- The need for adequate firm wide policies
- The need for wholesale training and updating
- The impact on the firm, clients and insurers
- Appreciate the key offences and how to react to them
- Why AML procedures and practices are still crucial
- What to look for in a client or a matter
- When to report - when not to - when should you be suspicious?
- How can you best to protect yourself (and your firm)?
- Are you doing enough due diligence?
- Are you concentrating on the right things?
- The new proposals for the SuperSARs system
This webinar was recorded on 14th May 2019
Quick Quiz - Test Your Knowledge: Money Laundering