Issue - meetings
Anti-Money Laundering Policy
Meeting: 29/07/2021 - Audit Committee (Item 5)
5 Anti-Money Laundering Policy PDF 238 KB
Additional documents:
- Appendix. 1 for Anti-Money Laundering Policy, item 5 PDF 450 KB
- Webcast for Anti-Money Laundering Policy
Minutes:
Mr Paul Rock, Head of Internal Audit, Anti-Fraud and Risk stated the report recommended the Audit Committee to note and approve the Council’s Anti-Money Laundering Policy and Guidance (“the AML Policy”) that all Council employees are expected to comply with. He said the policy had been reviewed and updated and would be presented to the Committee annually, going forward. He said it was a long report however the money laundering legislation was a high priority for the Council and aimed to develop a robust and vigilant anti-money laundering culture within the organisation.
In response to questions and comments from members the following was noted:
- One of the key areas where the AML policy applied was in relation to ‘Right to Buys”. Mr Rock said as this involved large sums of money, both the Housing and Anti-Fraud team were experienced to identify this. Mr Rock said he was not aware of the wider application of the policy in other areas of the Council. He said the aim was to develop a AML training programme which would target specific areas rather than the training being part of the mandatory training for everyone.
The Audit Committee RESOLVED to:
- Note and approve the Council’s AML policy
- Note the equalities impact assessment / specific equalities considerations as set out in paragraph 4.