DAML Requests in the UK: What Makes a Request Complete
AML Compliance in the UK and Europe: What Makes a DAML Request Complete A defence against money laundering request is simple to describe and easy to get wrong. A firm that suspects a planned transaction involves criminal property asks the UK Financial Intelligence Unit for a defence to carry out that specific act. What the unit receives decides how quickly, and whether, it can respond. In short: a complete DAML request explains the suspicion, describes the property and sets out one future, specific act. A request missing any of these can be questioned or closed. The three essentials Essential What it means Grounds for suspicion The facts and reasoning behind the suspicion, in clear language. The property What you suspect is criminal property, with a value and, where known, a location. The prohibited act The future, specific activity you want a defence to carry out. How the clock works The notice period starts on the first working day after submission and runs fo...