Money Laundering: Review of the Reporting ... - Dematerialised ID
Money Laundering: Review of the Reporting ... - Dematerialised ID
Money Laundering: Review of the Reporting ... - Dematerialised ID
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kpmg<br />
<strong>Review</strong> <strong>of</strong> <strong>the</strong> regime for handling Suspicious Activity Reports<br />
Report <strong>of</strong> recommendations<br />
KPMG LLP<br />
9.4.5 Access protocols should be agreed between ECB and <strong>the</strong> LEAs to ensure that LEA direct<br />
access to Elmer meets <strong>the</strong> requirements <strong>of</strong> <strong>the</strong> DPA.<br />
Completion Date: September 2003<br />
Agency: ECB and LEAs<br />
9.4.6 Individual FIs within FIUs should manage <strong>the</strong>ir SAR queue and document <strong>the</strong>ir actions<br />
on Elmer. LEAs should review <strong>the</strong> SARs allocated to <strong>the</strong>ir queue in order to record<br />
decisions on Elmer about which SARs should be actioned, and which should be retained<br />
in Elmer as intelligence only. Where LEA decisions differ to LU recommendations <strong>the</strong><br />
reasons for <strong>the</strong>se decisions should be documented.<br />
Completion Date: December 2003<br />
Agency: LEAs<br />
9.4.7 LEAs should manage and record <strong>the</strong> status <strong>of</strong> all SARs in <strong>the</strong>ir queue, each SAR being<br />
identified as ei<strong>the</strong>r open (where fur<strong>the</strong>r work will be carried out on an SAR by <strong>the</strong> LEA),<br />
intelligence only, or complete (following <strong>the</strong> conclusion <strong>of</strong> an investigation).<br />
Completion Date: December 2003<br />
Agency: LEAs<br />
9.4.8 LEAs should be responsible for identifying any SARs incorrectly allocated to <strong>the</strong>m and<br />
notifying <strong>the</strong> LU via Elmer <strong>of</strong> <strong>the</strong> requirement to reallocate to a more appropriate LEA.<br />
Completion Date: December 2003<br />
Agency: LEAs<br />
9.4.9 Where an LEA indicates that an SAR is open it should be responsible for directly<br />
updating Elmer with feedback on <strong>the</strong> status <strong>of</strong> that SAR at regular quarterly intervals, and<br />
also on completion.<br />
Completion Date: December 2003<br />
Agency: LEAs<br />
9.4.10 LEAs should be able to conduct specific searches <strong>of</strong> Elmer, subject to access protocols,<br />
which will allow access to all information on intelligence only SARs, but not <strong>the</strong> full<br />
details <strong>of</strong> SARs marked as open by ano<strong>the</strong>r LEA, subject to agreements between LEAs.<br />
Completion Date: December 2003<br />
Agency: LEAs<br />
jo/fh/519 87