Money Laundering and handover

Money Laundering and handover

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Very recently signed up a new job and then realised he's a crook.

I have every reason to believe he's money laundering, have spoken to my MLRO and have made all the appropriate reports.

I've now got a clearance letter. I've not actually done anything yet, but I'm uncertain as to how I respond - do I say anything to the incoming?

Replies (4)

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By LuKosro
19th Apr 2015 22:39

Hi

No. 

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By The Innkeeper
20th Apr 2015 08:39

absolutely

not - otherwise you could be stumbling into the area of 'tipping off'

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David Winch
By David Winch
20th Apr 2015 09:46

It depends

I would keep your response strictly factual & of course true.

I would advise against stating that you have made a report (because that could get back to the subject of the report) but you could pass on the information which formed the basis of your suspicion (if you want to).

A lot depends on how sure you are that he actually is a crook.

Do not worry unduly about 'tipping off' especially if both you and the new accountant hold appropriate professional qualifications, see s333C(1)(d) & s330(14) PoCA 2002.

David

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By jeremy28
21st Apr 2015 11:33

So whats the point...

... of the clearance letter?

I do remember (from my training) the glee with which a clearance letter was signed, removing our firm from our worst client. All strictly factual & of course true. I am sure that the incoming was eventually as ired with us as we were at the previous outgoing!

Which begs the question, what's the point of the clearance letter? You won't report a crook and you won't report a PITA. So why do we bother?

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