Money Laundering Regs for a charity

ademoore Registered Posts: 146 🎆 🐘 🎆
Hi all,
Just been asked by a charity (small local nursery) to review their accounts - however, it just struck me what the MLR process would be for a charity? With companies, it is obviously the directors!

Any one deal much with charities?


  • Monsoon
    Monsoon FMAAT, AAT Licensed Accountant Posts: 4,071 🎆 🐘 🎆
    I think technically it's the trustees, or a majority of them.

    Just remember MLR is on a risk sensitive basis. If it's the local pre-school, I don't think any of the mums (who the trustees likely are) are terrorists or doing drug deals. ID your point of contact and use your judgement on a risk sensitive basis on the rest.
  • coojee
    coojee Registered Posts: 794
    Going off at a bit of a tangent now, what if the parents who are paying the nursery bills were using the proceeds of crime to pay them where does that leave the nursery? I know it's the same for any business so is there no duty for them to check? (Since it would be impossible)
  • Guest
    Guest Registered Posts: 73 💫 🐯 💫
    Nurserys will not be expected to register under MLR. Think the previous post implied if a parent who was also a trustee was using the nursery for ML purposes.
  • Monsoon
    Monsoon FMAAT, AAT Licensed Accountant Posts: 4,071 🎆 🐘 🎆
    If your risk assessment of the clients grades them low risk and you record your assessment accordingly, you've done your job.
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