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New KPMG Web Site Is Launched To Support Fight Against Money Laundering

Mandy Robinson, Tax-news.com, London

29 November 2000


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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