MLRO
The money laundering reporting officer: the person who receives internal reports of suspicion and decides whether to report to the financial intelligence unit.
The MLRO is a named, approved role. Staff report suspicion to the MLRO, who considers it and decides whether to file an external report, and who answers to the board for the firm’s financial-crime controls.
Many regimes also require a compliance officer for AML, the MLCO, and deputies to cover absence. In smaller firms one person often holds several of these roles.
Where the rules use it.
- GFSC Handbook on Countering Financial Crime (AML/CFT/CPF)The Bailiwick's AML/CFT/CPF rules and guidance for financial services businesses and prescribed businesses, issued under the Criminal Justice (Proceeds of Crime) regulations.Guernsey · 8 controls
- JFSC AML/CFT/CPF HandbookHandbook for the prevention and detection of money laundering, terrorist financing and proliferation financing under the Money Laundering (Jersey) Order 2008.Jersey · 8 controls
- Cayman Islands Anti-Money Laundering RegulationsThe AMLRs under the Proceeds of Crime Act, read with CIMA's Guidance Notes — departure from the Guidance Notes without justification is treated as non-compliance.Cayman Islands · 8 controls