ICAEW ARF · Chapter 11 · Question 6 of 10
How should an employee of an accountancy firm report a suspicion of money laundering by a client?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: C) To the firm's money laundering reporting officer, who decides whether to make a report to the National Crime Agency
Explanation
Regulated firms must appoint a nominated officer, usually called the money laundering reporting officer. Staff make internal reports to this officer, who considers them and decides whether to submit a suspicious activity report to the National Crime Agency. Informing the client could amount to tipping off.
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