Money Laundering Reporting Officers (MLRO)

A Money Laundering Reporting Officer (MLRO) is a designated individual within a financial institution or business who is responsible for preventing and reporting instances of money laundering and other related financial crimes. The MLRO ensures compliance with legal regulations, monitors transactions for suspicious activity, and communicates with authorities when necessary. Their role involves training staff on anti-money laundering practices, maintaining records, and helping the organization develop effective policies to detect and prevent financial crime, ultimately protecting the integrity of the financial system.