RECOMMENDED: That the Anti-Money Laundering Policy and the associated procedures that are contained/attached within the policy and the appendices be approved.
Reason for Decision
To introduce the anti-money laundering policy and the associated procedures as a new policy, as the council do not currently have any policy or procedures in place for anti-money laundering purposes. This policy looks to provide a clear process for officers/members who wish to report suspicions of money laundering and to the same end helps to raise suspicions of serious crime to the relevant responsible officers and other organisations (the National Crime Agency – NCA). As well as to protect officers/members who may have a suspicion and may require assistance to prevent further offences and/or obtaining guidance to prevent themselves from inadvertently becoming ‘involved’ in money offences.