Anti-Money Laundering · glossary
The wait that starts if the NCA refuses a defence. The named acts wait 31 days from the refusal, and a court may extend that, up to 186 days in all. When the period ends, the firm has a defence. MLRO’s Decision Note, paragraph 4 · Chapter 8 · see Deemed consent
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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