Anti-Money Laundering · glossary
Short for “defence against money laundering”: the request, made in a SAR, for a defence to do a named act. Merranby’s SAR named three acts: exchange, completion and the return of the £500,000. MLRO’s Decision Note, paragraph 5 · Chapter 8 · see Authorised disclosure, Deemed consent
Explained in Chapter 8, Suspicious Activity Reports (SARs) and DAML Requests, of Anti-Money Laundering.
The way out is to report before the act. A report made before the act is an authorised disclosure under section 338, and it can give the firm a defence. Lawyers call a request for a defence a DAML request, short for “defence against money laundering”.Read Chapter 8, Suspicious Activity Reports (SARs) and DAML Requests →
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