The Chief Internal Auditor, Mark Niblock, introduced a report which sought the Committee’s approval for the draft Anti-Money Laundering Policy and its accompanying guidance notes. This would ensure that the Anti-Money Laundering Policy was up to date and complied with the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017.

Responding to a Member’s comment Mark Niblock informed the meeting that targeted instruction and training would be undertaken with relevant front line staff once the policy was approved.

Resolved –

That the following Policy and accompanying guidance notes be approved:

(i)  Anti-Money Laundering Policy (Appendix A);

(ii)  Briefing Note for front line Employees (Appendix 1);

(iii)  Verification of Customer Identity form (Appendix 2);

(iv)  Customer Due Diligence Procedure – Evidence document (Appendix 3);

(v)  Offences Table (Appendix 4).