Section 7: Role of money laundering control officer

(1) The role of a money laundering control officer is- (a) to act as the liaison person between the accountable person and the Authority in matters relating to coordination and compliance to anti-money laundering and combating terrorism financing; (b) to develop and implement systems, mechanisms and procedures to ensure that the staff of the accountable person immediately report any suspicious money laundering or financing of terrorism activity; (c) to notify the Authority, on behalf of the accountable person, of any suspicious money laundering or financing of terrorism activity. (2) For the purposes of this regulation, an accountable person shall ensure that all staff report any suspicious activity relating to money laundering and terrorist financing to the money laundering control officer. (3) An accountable person shall provide the money laundering control officer access to any information which may be of assistance to the officer to discharge his or her roles under these Regulations.