Anti-Money Laundering · glossary
The defence a firm has when the NCA does not refuse its request within seven working days. It covers only the acts the SAR names. It is not a clearance, so the firm’s own checks must still be finished. MLRO’s Decision Note, paragraph 7 · Chapter 8 · see Moratorium period
Explained in Chapter 8, Suspicious Activity Reports (SARs) and DAML Requests, of Anti-Money Laundering.
The NCA need not reply. The law allows it seven working days to refuse, and silence counts as consent. That is deemed consent, under section 335 of the Act. A refusal starts a second wait, the moratorium period, and the table shows both paths…Read Chapter 8, Suspicious Activity Reports (SARs) and DAML Requests →
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