The prevention of money laundering and combating the financing of terrorism
7 - External reporting
To avoid committing a failure to report offence, the nominated officer must make a disclosure to the NCA where he decides that a report gives rise to grounds for knowledge or suspicion. The national reception point for the disclosure of knowledge and suspicions, and for seeking a defence (consent) to proceed with the transaction or activity, is the UK Financial Intelligence Unit (UKFIU) within the NCA.
The nominated officer must report to the NCA any transaction or activity that, after their evaluation, they know or suspect, or have reasonable grounds to know or suspect, may be linked to money laundering or terrorist financing. Such reports must be made as soon as is practicable after the information comes to the nominated officer.
In addition, depending on the circumstances, a casino operator being served with a court order in relation to a customer may have cause for suspicion, or reasonable grounds for suspicion, in relation to that customer. In such an event, the nominated officer should review the information that is held about that customer in order to determine whether or not such grounds for suspicion exist and, if necessary, make a report to the NCA. Where the nominated officer decides not to make a report to the NCA, the reasons for not doing so should be clearly recorded and retained.
The Secretary of State may by order prescribe the form and manner in which a disclosure under section 330 (opens in a new tab), section 331 (opens in a new tab), section 332 (opens in a new tab), or section 338 (opens in a new tab), may be made.
A consultation paper on the form and manner of reporting was issued by the Home Office in the summer of 2007, however, the Home Office decided not to proceed with the introduction of a prescribed form and manner for reporting.
Evaluation and determination by the nominated officer Next section
Submission of suspicious activity reports
Last updated: 30 May 2023
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Updated in line with version 3 of the guidance. References to 'proliferation financing' added.