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money laundering policies and procedures- internal reporting lines

Former userFormer user4y ago

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KimKimTutor4y ago#1
The MLRO is within the audit firm. Reporting is within the firm and the standard form is the firm's prescribed documentation.
KimKimTutor4y ago#2
See page 32 - reporting to the designated MLRO is a regulatory requirement. If the law says that suspicion has to be reported to the MLRO - reporting to someone else is not an alternative. It could well be the audit engagement partner who reports suspicion to the MLRO.
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