Issue - meetings

Purpose of Report

To seek approval for the revised Money Laundering Policy.

Decision

That the revised Money Laundering Policy be approved.

Alternative Options Considered and Rejected

None.

Reason for Decision

The Council’s Money Laundering Policy was put in place to meet the requirements of the Money Laundering Regulations.

The Policy had been updated to reflect slight changes in Regulations, with the Money Laundering Reporting Officer and deputies remaining the same. The limit on cash transactions would remain at £2,000 with Assistant Directors and Managers able to authorise cash transactions up to £2,000.

Additional guidance had been included to help support officers in managing transactions and understand the reporting process.

This report had been considered by the Audit Committee at its meeting on 11 December 2018 which was supportive of the recommendations contained within the report.