Protecting council with policy.
Members of Durham County Council's Cabinet will be asked to approve a new Anti-Money Laundering Policy, when they meet in Chester-le-Street on Wednesday.
The policy explains the processes and procedures in place to ensure the council does all it can to prevent itself and its employees being exposed to money laundering.
It also outlines how the authority ensures it complies with all legal and regulatory requirements.
Coun Alan Napier, Durham County Council's Cabinet Member for Resources, said: "The council cannot be considered immune from the risks surrounding money laundering and it is extremely important that we have clear guidelines for protecting ourselves and our staff. The new policy clearly states how the authority will take all reasonable steps to minimise the likelihood of money laundering.
Money laundering is the process by which the proceeds of crime are changed so that they appear to come from a legitimate source.
|Printer friendly Cite/link Email Feedback|
|Publication:||The Journal (Newcastle, England)|
|Date:||Mar 1, 2010|
|Previous Article:||'Find a buyer or we go on strike' Unions give Corus two-week dealine.|
|Next Article:||'Safe Place' helps keep babies alive; North doctors design device.|