Q1. The legislation in relation to money laundering and terrorist financing requires employees to report any knowledge of these crimes. How do you define "knowledge" in this context?
Q2. The legislation also requires reporting any suspicion in relation to money laundering and terrorist financing. What exactly is a "suspicion"?
Q3. Employees are also required to make a report when there are reasonable grounds to suspect. Can you elaborate on what is meant by "reasonable grounds to suspect"?
Q4. Can you tell us about transferred suspicion and what circumstances can it arise?
Q5. What is the key to recognising knowledge, suspicion or reasonable grounds in relation to money laundering and terrorist financing?
Q6. What types of situations might give rise to reasonable grounds for suspicion?
Q7. Can a firm send funds back to where they came from if they suspect they are the proceeds of crime?
Q8. What specific indicators for recognising suspicious activity are applicable to legal professionals and accountants?