Money Laundering: Review of the Reporting ... - Dematerialised ID

kpmg
Review of the regime for handling Suspicious Activity Reports
Report of recommendations
KPMG LLP
9 Summary of recommendations
9.1 Delivery of the aims of the regime and the recommendations of
this report
Recommendation 1: Establishment of a Task Force (Report section 5.2)
9.1.1 A small Task Force of stakeholders should be established which is accountable for the
delivery of the aims of the regime. The Task Force should be chaired by a senior Home
Office official, report to a Government minister, and comprise individuals with sufficient
authority to implement change. The Task Force should publish an annual report of
achievements against measurable outcomes.
Completion Date: September 2003
Agency: Home Office
9.1.2 The Task Force functions should be to promote the successes of the SAR regime,
encourage collaboration between stakeholders, provide support and guidance, monitor
resource needs and contribute to the UK’s AML strategy.
Completion Date: September 2003
Agency: Task Force
Recommendation 2: Government commitment to the aims and objectives of the
SAR regime (Report section 5.3)
9.1.3 The Government should make a clear commitment to the aims and objectives of the SAR
regime and the implementation of the recommendations of the KPMG review.
Completion Date: September 2003
Agency: Home Office
9.2 Focusing and defining the work of ECB
Recommendation 3: Structuring and strengthening the management of ECB (Report
section 6.2)
9.2.1 ECB should be split into three core functions, DMC, LU and IDU and each function
should be managed by a high quality individual, reporting to the Head of ECB, supported
by a strong assistant. In addition, ECB Senior Management will need policy and legal
support. The overall management team should include a diversity of experience,
background and skills.
Completion Date: September 2003
Agency: ECB
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