Issue - meetings
Anti-Money Laundering Policy
Meeting: 07/03/2018 - Cabinet (Item 75)
75 Anti-Money Laundering Policy PDF 56 KB
To update the Council’s Anti-Money Laundering Policy to reflect recent changed in legislation.
Additional documents:
- Appendix 1 to Anti-Money Laundering Policy, item 75
PDF 174 KB
- Appendix 2 to Anti-Money Laundering Policy, item 75
PDF 65 KB
- Appendix 3 to Anti-Money Laundering POlicy, item 75
PDF 101 KB
Decision:
RESOLVED:
(a) That the revised Anti-Money Laundering Policy, as attached as Appendices to Report Item 4 to the Cabinet, be approved; and
(b) That the current delegation under the Proceeds of Crime Act 2002, Terrorism Act 2000 and Money Laundering Regulations 2007 (as amended) be updated so that the S151 Officer is the officer nominated to receive disclosures about money laundering/terrorist financing activity within the Council and also to reflect the introduction of the Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017.
Minutes:
The Cabinet considered revisions to the Anti-Money Laundering policy, partly to reflect recent changes to the legislation; and also to increase the limit of cash payment above which the Council would, under its Due Diligence procedure, request proof of identity, from £2,000 to £4,000.
RESOLVED:
(a) That the revised Anti-Money Laundering Policy, as attached as Appendices to Report Item 4 to the Cabinet, be approved; and
(b) That the current delegation under the Proceeds of Crime Act 2002, Terrorism Act 2000 and Money Laundering Regulations 2007 (as amended) be updated so that the S151 Officer is the officer nominated to receive disclosures about money laundering/terrorist financing activity within the Council and also to reflect the introduction of the Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017.