The obligation to report suspicion
The obligation to report suspicion
If your work is in the regulated sector, not only must you report actual knowledge or suspicion of money laundering, but if there are reasonable grounds for knowing or suspecting that another person is engaged in money laundering you must report those circumstances as well.
This applies irrespective of whether the person engaged in the activity is the firm’s client (i.e. any suspicions about any third party or even unconnected entities must be reported).
