Glossary
MLRO (Money laundering reporting officer)
The money laundering reporting officer is the person in a regulated firm responsible for receiving internal suspicion reports, deciding whether to report to the FIU and acting as the contact point with the FIU and the regulator. Titles vary: compliance officer, MLRO or AML officer, depending on the rulebook.
Why it matters for brokers and payment firms
The MLRO signs off the decision to file or not to file. A case file that sets out the evidence, the reasoning and the deadline lets the MLRO decide quickly and defend the decision later.