Criminal Asset Recovery Order, 2012 · s 21

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s 21Internal reporting procedures

A financial institution or designated non-financial business and profession shall establish and maintain internal reporting procedures to-

{a}

identify persons to whom an employee is to report any information which comes to the employee's attention in the course of employment and which gives rise to knowledge or suspicion by the employee that another person is engaged in money laundering;

{b)

enable any person identified in accordance with paragraph {a} to have reasonable access to information that may be relevant to determining whether sufficient basis exists to report the matter pursuant to section 15(1); and

{c)

require the identified person to report the matter pursuant to section 15(1) where he determines that sufficient basis exists.

Further internal reporting procedures.