Implement a process in the reporting system to ensure that What constitutes knowledge for the purposes of the criminal offence of enquiries into clients do not result in off’ Money Laundering and Terrorist Financing ‘tipping Ensure all staff realise they must raise a SAR whenever they How to encourage responsible reporting of suspicious transactions and suspect criminal activity in a transaction, reminding them of the activities, and how to discourage frivolous reporting continuing legal obligations with regard to the client concerned and The strengths and weaknesses of suspicion-recognition systems addressing any awareness issues that arise How to evaluate internal reports of suspicious transactions and activities, Deal promptly with internal reports of suspicious activity received determining if the report has merit and should be externalised from staff, determining if the report needs further investigation The documentation required by your organisation and by external law Discus the report with relevant internal colleagues and enforcement agencies of your evaluations of internal reports managers to elicit further information required to make a decision Why the reports and your evaluation of them must be stored securely Decide whether or not to externalise the report How to manage communications with clients who are suspected of Keep accurate, confidential and secure records of the evaluation Money Laundering / Terrorist Financing, and their advisers process include all relevant information relating to the report How to handle the risk of committing the off’ offence ‘tipping Provide information on the number of reports into suspicious Your organisation’s requirements relating to the application of codes, transactions and activities made by and from which parts of laws regulatory requirements and guidance, including data protection and the organisation they originate health and safety, as they impact on your activities Provide feedback to relevant staff on the decisions regarding the report into suspected suspicious transactions and activities, as appropriate Identify, investigate and resolve non-compliant activity within your organisation Overview This unit is about identifying activity within your organisation that is potentially non-compliant with the requirements of law enforcement authorities. You must also encourage staff to bring suspicions of potentially non-compliant activity to the attention of compliance staff. You must assess the seriousness of an identified breach and determine the compliance risk posed. You must identify and implement remedial action and make internal or external reports as appropriate. You must initiate or recommend disciplinary action where necessary and identify and implement ways of avoiding recurrence of breaches. Performance Knowledge and Understanding Identify activity within your organisation that is potentially What constitutes compliant behaviour with the requirements of law enforcement authorities, How to identify potentially non-compliant behaviour and the extent and context of the problem
Implement a process in the reporting system to ensure that enquiries into clients do not result in ‘tipping off’ Ensure all staff realise they must raise a SAR whenever they suspect criminal activity in a transaction, reminding them of the continuing legal obligations with regard to the client concerned and addressing any awareness issues that arise Deal promptly with internal reports of suspicious activity received from staff, determining if the report needs further investigation Discus the report with relevant internal colleagues and managers to elicit further information required to make a decision Decide whether or not to externalise the report Keep accurate, confidential and secure records of the evaluation process include all relevant information relating to the report Provide information on the number of reports into suspicious transactions and activities made by and from which parts of the organisation they originate Provide feedback to relevant staff on the decisions regarding the report into suspected suspicious transactions and activities, as appropriate What constitutes knowledge for the purposes of the criminal offence of Money Laundering and Terrorist Financing How to encourage responsible reporting of suspicious transactions and activities, and how to discourage frivolous reporting The strengths and weaknesses of suspicion-recognition systems How to evaluate internal reports of suspicious transactions and activities, determining if the report has merit and should be externalised The documentation required by your organisation and by external law enforcement agencies of your evaluations of internal reports Why the reports and your evaluation of them must be stored securely How to manage communications with clients who are suspected of Money Laundering / Terrorist Financing, and their advisers How to handle the risk of committing the ‘tipping off’ offence Your organisation’s requirements relating to the application of codes, laws regulatory requirements and guidance, including data protection and health and safety, as they impact on your activities Identify, investigate and resolve non-compliant activity within your organisation Overview This unit is about identifying activity within your organisation that is potentially non-compliant with the requirements of law enforcement authorities. You must also encourage staff to bring suspicions of potentially non-compliant activity to the attention of compliance staff. You must assess the seriousness of an identified breach and determine the compliance risk posed. You must identify and implement remedial action and make internal or external reports as appropriate. You must initiate or recommend disciplinary action where necessary and identify and implement ways of avoiding recurrence of breaches. Performance Knowledge and Understanding Identify activity within your organisation that is potentially with the requirements of law enforcement authorities, and the extent and context of the problem What constitutes compliant behaviour How to identify potentially non-compliant behaviour