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Home / Simons-Taxes /Administration and compliance /Part A7 Money laundering and tax avoidance schemes /Division A7.1 Money laundering /The Proceeds of Crime Act 2002 / A7.105 Money laundering offences—failure to disclose—nominated officers in the regulated sector
Commentary

A7.105 Money laundering offences—failure to disclose—nominated officers in the regulated sector


Administration and compliance

An MLRO nominated to receive disclosures under the provisions described in A7.104 commits an offence if:

  1. Ìý

    (a)ÌýÌýÌýÌý he knows or suspects (or has reasonable grounds for knowing or suspecting) that another person is engaged in money laundering

  2. Ìý

    (b)ÌýÌýÌýÌý the information or other matter on which his knowledge or suspicion is based came to him in consequence of a disclosure made under the provisions described in A7.104

  3. Ìý

    (c)ÌýÌýÌýÌý either:

    1. Ìý

      –ÌýÌýÌýÌý he knows the identity of the other person mentioned in (a), or the whereabouts of any of the laundered property, in consequence of a disclosure made under section 330 (see A7.104)

    2. Ìý

      –

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