To approve the Proceeds of Crime and Anti-Money Laundering Policy. 

1.           That the Proceeds of Crime and Anti-Money Laundering Policy, as attached to the report at Appendix 1, be APPROVED.

2.           That authority be delegated to the Head of Finance and Asset Management, in consultation with the Counter Fraud Unit Manager, One Legal and the Lead Member for Corporate Governance, to approve future minor amendments to the policy.

35.1          The report of the Counter Fraud Unit Manager, circulated at Pages No. 68-78, presented the Committee with an updated Proceeds of Crime and Anti-Money Laundering Policy for approval. 

35.2          The Counter Fraud Unit Manager explained that the Policy defined a best practice approach to dealing with money laundering obligations and suspicious activity reports. It sought to enable the identification of suspicious transactions and was something the Council had to have in place due to its dealings with legal and property transactions. The Policy enabled Officers to address the way the Council, its employees and Members formally discharged their obligations

35.3          Accordingly, it was