ML/FT Enquiries

The section of reporting for the organisation's register of enquiries. Money laundering and financing of terrorism enquiries are stored and managed in this section.

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Anatomy

The register of enquiries can be added to when a request is received from an authority. Each enquiry is a form that keeps the following fields:

• Internal Reference: An internal reference to identify the enquiry by.

• Entities: The entities involved in the enquiry.

• Enquiring Agency: The "competent authority" that prompted the enquiry.

• Enquiring Person: The name of the enquiring officer from the enquiring agency.

• Nature of Enquiry:

  • Money Laundering

  • Terrorism Financing

  • Target Financial Sanction

  • Other

  • Unknown

• Powers Exercised: Free-text description of powers being exercised by the enquiring agency.

• Details: Free-text for any additional information.

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Relevant Legislation/Guidance

The Code 2019 - 29 Register of money laundering and financing of terrorism enquiries

(1) A relevant person must establish and maintain a register of all ML/FT enquiries received by it from competent authorities.

(2) The register must be kept separate from other records and include –

(a) the date of the enquiry;

(b) the nature of the enquiry;

(c) the name and agency of the enquiring officer;

(d) the powers being exercised; and

(e) details of the account or transactions involved.

Also refer to The Handbook 2023 section 5.6