Protected and Authorised Disclosure

Question 1

What is meant by a protected disclosure?

Answer 1

Where any person, not just an accountant, submits a report providing a required disclosure of a suspicion of money laundering.

Question 2

What does this mean?

Answer 2

This means the person is protected against allegations of breach of confidentiality regardless of how the information was restricted originally.

Question 3

What is meant by an Authorised Disclosure?

Answer 3

Any person, not just an accountant, who realises they have engaged, or are about to engage in money laundering reporting to the appropriate authority.

Question 4

When should the Authorised Disclosure be carried out?

Answer 4

Before the act is carried out.