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Roles and Responsibilities of the Money Laundering Reporting Officer (MLRO & MLCO)

Learn the roles and responsibilities of the MLRO & MLCO - including the latest important updates

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Live virtual class | Delivered over two half-day sessions | 7 CPD hours

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In-house pricing available – often more cost-effective for teams of 10+
pdf Download:   Course Outline

  • Carry out your MLRO duties more effectively, including AML investigations, escalation, reporting, and staff training
  • Build practical skill in setting up and monitoring AML/CTF policies, controls, and risk-based processes within your firm
  • Stay up to date with recent regulatory developments and reporting requirements, so you can stay compliant in your role

Part One

Session 1: The Role of the MLRO/MLCO - An Overview

  • This MLRO course begins by assessing recent developments
  • Regulatory developments
  • The difference between the Money Laundering Reporting Officer (MLRO) & Money Laundering Compliance Officer (MLCO)
  • A critically important role with the responsibility of ensuring that the FCC measures are effective
  • Responsible for implementing and overseeing the customer due diligence (CDD) process, onboarding, transactions monitoring and alert escalation
  • Ensuring new and changing regulatory requirements are complied with fully and in a timely fashion
  • Developing internal and external reporting processes
  • Keeping records
  • Establishing, maintaining and overseeing internal controls
  • The AML/CTF risk assessment
  • The essential requirement to ensure proper training of staff
  • Communication of AML/CTF policy and issues within the business
  • Case Study/Example

Session 2: The Initial Money Laundering Risk Assessment: Identifying and Evaluating Key Risks

  • Country Risk Assessment
  • Institution’s risk assessment
  • Adopting the Risk-Based Approach
  • How the MLRO, Compliance Officer, Chief Risk Officer, Internal Audit and the Board should coordinate
  • What makes an effective MLRO Compliance Officer?
  • Accountability of the Compliance Officer
  • Interdependencies with other control functions
  • Primary, secondary and on-demand compliance
  • The Compliance Officer’s Activities – and the support required
  • Case Study/Example

Session 3: Internal Systems & Policies: Implementing an Effective Compliance Framework and a Monitoring Programme

  • Analysing legal and regulatory rules
  • Identifying risks
  • Creating an internal AML/CTF Policy
  • Designing control and procedures
  • Generating management information
  • Creating an effective compliance culture
  • Monitoring
  • Case Study/Example

Session 4: Compliance and Corporate Governance

  • How does the MLRO contribute to Corporate Governance and help manage risk?
  • Reporting to the Board and Board oversight
  • Creating an effective reporting/escalation process
  • Working with all levels of management to ensure the training provided is suitable for the business on a risk-based basis
  • Dealing with Regulators
  • Dealing with the NCA
  • Submitting regular (minimum annual) MLRO reports to the Board
  • Case Study/Example

Session 5: Recent Changes in 2025

  • MLRO training explores prompt reporting (SARs)
  • Independence and Authority
  • Registration and Fit/Proper Test
  • Risk Assessment
  • Customer Due Diligence (CDD)
  • Training and Awareness
  • Record Keeping
  • Key Changes
    • Draft Legislation
    • Cryptoasset Focus
    • Sector Expansion
    • High-Risk Countries
  • PSC requirements & Trust registration
  • PEP criteria - UK PEP Guidance FG25/3
  • Case Study/Example


   

Part Two

Session 1: Managing the Risk of Money Laundering

  • Offshore issues, PEPs, and EPs
  • Know Your Client (KYC) and Identification & Verification (ID&V)
  • Annual and other regular reviews
  • High-risk clients
  • Monitoring systems
  • Testing procedures
  • Case Study/Example

Session 2: Evaluation of Internal Reports

  • Disclosure & Escalation
  • Whistleblowing process
  • Requesting Consent – where applicable
  • Reminding staff about tipping off
  • Escalating to the NCA
  • Obtaining further information
  • Identifying the reasons for suspicion
  • Documenting decisions not to report externally
  • Submitting/Escalating suspicious activity reports (SARs)
  • Policing the process
  • Reporting past AML practices, which recent reports indicate could now be money laundering
  • Policing the notice period following a SAR
  • Policing moratorium periods imposed by the NCA
  • Case Study/Example

Session 3: Other Regulatory Risks

  • Information Security and Data Protection
  • Market abuse and insider dealing
  • Bribery and Corruption
  • Sanctions: plus other types and risks in on-shore and off-shore Banking
  • Case Study/Example

Session 4: Accounting for People Risks in Anti-Money Laundering Risk Management

  • Understanding the importance of human error in procedure-driven environments id discussed in this MLRO course
  • Common human factor problems
  • Steep authority gradients
  • Reliance vacuums
  • Dominant individuals
  • Identifying and addressing human factor issues
  • Developing an effective compliance culture
  • Case Study/Example

Session 5: Potential Criminal Abuse of Private Banking Services, Trusts, and Corporate Services Companies

  • Offshore companies and corporate services analysed
  • Offshore trusts and trustee services analysed
  • The criticality of fiduciary duty
  • Understanding commercial rationale
  • AML trust and company vulnerabilities
  • Examples of abuse

Conclusion

  • Open forum
  • Wrap-up

Redcliffe Training's money laundering reporting officer course lead has an extensive and distinguished career in the banking and financial services industry.

Beginning with a fast-tracked trajectory at Lloyds Bank, he ascended to a senior management role within their private banking and wealth management division. His expertise was soon recognised, leading to a headhunting opportunity at a merchant bank where he served as Head of Risk at the main board director level.

With over 40 years in the UK financial sector, he brings a wealth of valuable knowledge for your professional development.

Since retiring, our trainer has established himself as a prominent freelance consultant. He specialises in Compliance, Financial Crime Compliance (FCC), and Anti-Money Laundering (AML) training.

He currently serves as an external Master Trainer for HSBC and the Bank of China. Particularly playing a pivotal role in HSBC’s global FCC & AML training program, which is now in its eighth year.

His training portfolio is extensive. Having designed and delivered money laundering reporting officer training to a broad range of clients, from global corporations to boutique firms, his international experience spans the UK, USA, South America, Europe, Africa, Asia, and the Middle East.

Renowned for his adaptability and hands-on approach, he consistently earns outstanding feedback from participants. He is adept at engaging with professionals across all levels of seniority and expertise, from seasoned experts to those new to the field. Moreover, he is a skilled soft skills trainer with a track record of success in “train the trainer” programs.

Besides his specialisations in MLRO training, Compliance, FCC, and AML, his areas of expertise include:
  • Risk Management
  • Trade Finance
  • All facets of Corporate, Private, and Retail Banking

This MLRO training course for UK compliance will teach you the following:
  • Understanding the recent developments over the last few years
  • The critical role of the MLRO in establishing, implementing and monitoring an effective anti-money laundering and counter terrorist financing policy
  • The purpose and function of the risk-based approach
  • The key responsibilities of the MLRO and their team
  • Demonstrate with examples, good and bad AML practice and procedure
  • Ensure delegates understand the importance of the MLRO function on statutory requirements
  • Consider the implications of MLR2017, 2019 & 6thMLD
  • Consider PSC requirements and Trust registration
  • PEP criteria of Money Laundering and the Single European Register
  • How the MLRO must oversee, control and document the AML investigation process
  • The need for regular and documented staff training
  • The importance of an effective escalation process (including SAR/STRs). The need for an effective whistleblowing process
  • The importance of the Annual (or more frequent) MLRO reporting
  • How it all works in practice and where the pinch points often occur

This MLRO course is an absolute must for:
  • MLROs and all staff working within a compliance function, especially those charged with AML escalations/investigations
  • Members of the internal audit function
  • Senior managers and top management would derive considerable benefit from attending, as they are the ultimate risk owners
  • Front-line staff who have to “make this happen”
  • Anyone looking for a refresher or an opportunity to hone their existing skills

MLRO training online is also available on an in-house basis for your organisation. Please contact us for further details.

As far as the creation of AML & FCC policies, the gatekeeper, the controller and the place where the “buck stops” is the MLRO. This is a critically important position within any firm covered by AML Rules.

When it comes to the identification, detection, escalation, reporting, management and training of staff on Anti-Money Laundering procedures, it is the responsibility of the MLRO to ensure this happens effectively and efficiently.

In most jurisdictions, it is a mandatory role. The MLRO should be a senior manager within the business and have the power to drive policy decisions and actions. He/she should have undergone a sufficient level of MLRO training experience and hold suitable qualifications.

This interactive Money Laundering Reporting Officer course fully explains the roles and responsibilities of an MLRO. It includes many interesting case studies based on real-life examples, which will enhance your learning experience.

Delegate participation is strongly encouraged throughout, with many attendees telling us that the ability to swap “war stories” and compare notes is a very useful feature.

Whether you are the MLRO or part of the team, we can help you understand your role and discharge your duties more effectively.

  • The trainer was very knowledgeable and tried to keep everybody engaged by relating examples to people's job roles.
  • The tutor was very good, and he interacted with us well, gave us a chance to get involved properly by asking relevant knowledge questions and made us laugh too!
  • It was refreshing, friendly, explained in a lively and interesting way, entertaining and without using excessive jargon. The structure was clear and organised. Good timing and calculated breaks. All in all, a course which seemed "effortless" but probably needed quite some effort to prepare.
  • Knowledge gained will help perform the role of MLRO.
  • Very good course with the right level of detail.
Number of places:

£ 1190.00

17-18 September 2026 Virtual class 09:30 - 13:00 UK Time
04-05 March 2027 Virtual class 09:30 - 13:00 UK Time
23-24 September 2027 Virtual class 09:30 - 13:00 UK Time

Discounts available:

  • 2 places at 20% less
  • 3 places at 30% less
  • 4+ places at 40% less
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