Suspicious Activity Reports & The MLRO Reporting Regime Explained

Introduction

Under the Proceeds of Crime Act, the MLRO has to tread a fine line between meeting their statutory obligation to disclose matters to the National Crime Agency in certain circumstances and risking a breach of client privilege by doing so inappropriately in others.

As the NCA's reporting guidelines have become steadily stricter the risks of reports being rejected or ignored have also increased, though this can be mitigated to some extent by using the new SARs portal.

Presented by expert speaker Trevor Hellawell, this webinar will explain what you need to know.

What You Will Learn

This webinar will cover the following:

• When should you be ‘suspicious’ in the first place?
• Why and when ‘authorised disclosures’ are required: the duty to disclose in some circumstances and the need to do so in others
• The reasons for making a SARs report - do you need a statutory defence?
• The complications of privilege - reasons not to disclose; what is a criminal purpose?
• Obtaining a defence or consent - the reporting process of the new Portal
• The range of NCA responses
• How do you avoid tipping off?
• The implications of Shah v HSBC
• The implications of the revised LSAG Guidance Note & addendum

This webinar was recorded on 25th June 2024

You can gain access to this webinar and 1,700+ others via the MBL Webinar Subscription. Please email webinarsubscription@mblseminars.com for more details.

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