The prevention of money laundering and combating the financing of terrorism
5.1 Casino operators must appoint an individual in their firm as a nominated officer (regulation 21(3)) who is responsible for:
- receiving internal disclosures under Part 7 of POCA and Part III of the Terrorism Act
- deciding whether these should be reported to the NCA
- if appropriate, making such external reports
- ensuring that a defence (appropriate consent) is applied for as necessary.
5.2 This does not allow the nominated officer function to be outsourced to an individual independent of the firm. The requirement to appoint a nominated officer does not apply where the casino operator does not employ, or act in association with, any other person (regulation 21(6). The casino operator must, within 14 days of the appointment, inform the Commission of the identity of the individual appointed as the nominated officer and any subsequent appointment to that position (regulation 21(4)).
5.3 The role of the nominated officer is to apply the same rigour in their approach to managing money laundering risk as the operator does in managing its commercial systems. The nominated officer should report to the board internally (or to the chief executive for small organisations), and direct to the NCA in relation to known or suspected money laundering activity (including criminal spend) and/or to request a defence (appropriate consent).
5.4 The nominated officer should be able to monitor the day-to-day operation of the operator’s AML/CTF policies, and respond promptly to any reasonable request for information made by the Commission or law enforcement bodies. The nominated officer is expected to take ultimate managerial responsibility for AML issues, but this does not diminish senior management responsibility for AML.
5.5 The term ‘nominated officer’ is used and defined in the Regulations (regulation 3(1)).
Next chapter: Standing of the nominated officer