What Needs To Be Reported And How

Question 1

Authorised disclosure

Answer 1

Autherised disclosure

• reporting about his or her own disclosure may have a defence against a charge of actual money laundering
• failing to report suspicion of money laundering is offence for AAT member

Question 2

Required disclosure

Answer 2

• the identity of the suspect
• the information on the suspicion money laundering being based
• the whereabouts of laundered property

SAR filed within 30 days of the activity. Can be extended to 60 days if require extra time