New KPMG Web Site Is Launched To Support Fight Against Money Laundering
Last year the KPMG
Isle of Man branch launched a web site as a resource in support
of Money Laundering Reporting Officers (MLROs) which proved so
successful that the company has now extended the service to Jersey
and Guernsey. Compliance professionals
MLROs are appointed by financial institutions with the remit to
prevent, detect and report acts of money laundering. According
to KPMG the MRLO-net web site can act as a general guide to assist
MLROs in their investigations through its reference and information
service. Peter McGarry, a
KPMG Isle of Man partner acting as spokesman for MRLO-net, states
on the site: 'When we launched MLRO-net in the Isle of Man in
June 1999 we were delighted with the enthusiastic response from
businesses across the finance sector. It was our subscribers who
requested that the service be extended to incorporate Jersey and
Guernsey legislation and guidance and the natural progression
is to now open the service up directly to institutions in Jersey
and Guernsey.' He adds: 'I am delighted
that we are now able to formally launch the product in the Channel
Islands, and I feel certain that the MLRO-net services will be
an important element in the armoury of Jersey and Gurensey financial
services businesses in their fight against money laundering.' .
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