{"id":132,"date":"2008-03-03T16:01:14","date_gmt":"2008-03-03T16:01:14","guid":{"rendered":"http:\/\/www2.moneylaunderingcompliance.com\/?p=132"},"modified":"2009-02-03T16:01:27","modified_gmt":"2009-02-03T16:01:27","slug":"q-what-is-my-supervisor-looking-for-me-to-do","status":"publish","type":"post","link":"https:\/\/www.moneylaunderingcompliance.com\/index.php\/hmrc-news\/q-what-is-my-supervisor-looking-for-me-to-do","title":{"rendered":"Q. What is my supervisor looking for me to do?"},"content":{"rendered":"

In simple terms there are four main things which all firms must do and be able to demonstrate compliance to a Supervisor, they are:-<\/p>\n

    \n
  1. Your firm must adopt appropriate policies and procedures for compliance for which the MLRO must implement into the systems of the firm.<\/li>\n
  2. Ensure that all staff have adequate training on understanding their roles and responsibilities under the UK\u2019s AML regime, the offences for ML and procedures including client due diligence and reporting.<\/li>\n
  3. Conduct client due diligence (CDD) procedures on all clients no matter how long they have been clients, including those\u00a0pre 1 March 2004 clients at an appropriate time, including risk assessment, identity and verification and ongoing monitoring.\u00a0<\/li>\n
  4. Implement a reporting regime for the reporting of Suspicious Activity Reports (SAR\u2019s) to the Serious Organised Crime Agency (SOCA).\u00a0\u00a0<\/li>\n<\/ol>\n

    You must ensure that all these policies & procedures, evidence of identity and account opening procedures, internal & external reports and any other AML procedural matters are documented correctly and records kept for a minimum of 5 years.<\/p>\n","protected":false},"excerpt":{"rendered":"

    In simple terms there are four main things which all firms must do and be able to demonstrate compliance to a Supervisor,<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6,4,8],"tags":[11,21,12],"class_list":["post-132","post","type-post","status-publish","format-standard","hentry","category-general-information","category-hmrc-news","category-professional-bodies","tag-money-laundering-regulations","tag-risk-based-approach","tag-supervisor-registration"],"_links":{"self":[{"href":"https:\/\/www.moneylaunderingcompliance.com\/index.php\/wp-json\/wp\/v2\/posts\/132","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.moneylaunderingcompliance.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.moneylaunderingcompliance.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.moneylaunderingcompliance.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.moneylaunderingcompliance.com\/index.php\/wp-json\/wp\/v2\/comments?post=132"}],"version-history":[{"count":2,"href":"https:\/\/www.moneylaunderingcompliance.com\/index.php\/wp-json\/wp\/v2\/posts\/132\/revisions"}],"predecessor-version":[{"id":134,"href":"https:\/\/www.moneylaunderingcompliance.com\/index.php\/wp-json\/wp\/v2\/posts\/132\/revisions\/134"}],"wp:attachment":[{"href":"https:\/\/www.moneylaunderingcompliance.com\/index.php\/wp-json\/wp\/v2\/media?parent=132"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.moneylaunderingcompliance.com\/index.php\/wp-json\/wp\/v2\/categories?post=132"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.moneylaunderingcompliance.com\/index.php\/wp-json\/wp\/v2\/tags?post=132"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}