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  1. Point in time
    2005-10-20

CRED 12.4 External Reporting

CRED 12.4.1G

Firms should take reasonable steps to ensure that, when money laundering is suspected, a report is swiftly made to the MLRO. Having considered the information available, if the MLRO suspects a person has been engaged in money laundering, he should report promptly to the National Criminal Intelligence Service (NCIS).1

CRED 12.4.2G

In the credit union context the committee of management may consider it appropriate to have a standing item covering money laundering on the agenda of their monthly meeting to ensure procedures are regularly reviewed.