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Insurance licenseesG must take reasonable steps to ensure that all reports made under Section FC-4.1 are considered by the MLRO (or his duly authorised delegate). Having considered the report and any other relevant information, if the MLRO (or his duly authorised delegate) still suspects that a person has been engaged in money laundering or terrorism financing, or the activity concerned is otherwise still regarded as suspicious, he must report the fact promptly to the relevant authoritiesG . Where no report is made, the MLRO must document the reasons why.

Amended: January 2007
(2 Versions)
Up to Jun 30 2007Jul 1 2007 onwards
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