FC-4.2.1
The MLRO is responsible for:
(a) Establishing and maintaining the licensee's AML/CFT policies and procedures;
(b) Ensuring that the licensee complies with the AML Law and any other applicable AML/CFT legislation and this Module;
(c) Ensuring day-to-day compliance with the licensee's own internal AML/CFT policies and procedures;
(d) Acting as the licensee's main point of contact in respect of handling internal suspicious transactions reports from the licensee's staff (refer to Section FC-5.1) and as the main contact for the Financial Intelligence Directorate, the CBB and other concerned bodies regarding AML/CFT;
(e) Making external suspicious transactions reports to the Financial Intelligence Directorate and the Compliance Directorate (refer to Section FC-5.2);
(f) Taking reasonable steps to establish and maintain adequate arrangements for staff awareness and training on AML/CFT matters (whether internal or external), as per Chapter FC-6;
(g) Producing annual reports on the effectiveness of the licensee's AML / CFT controls, for consideration by senior management, as per Paragraph FC-4.3.3;
(h) On-going monitoring of what may, in his opinion, constitute high-risk customer accounts; and
(i) Maintaining all necessary CDD, transactions, STR and staff training records for the required periods (refer to Section FC-7.1).
Amended: October 2019
October 2010
October 2010