CIMA is listed as a supervisory authority under schedule 3 of the Money Laundering Regulations 2007. The institute works closely with the Serious Organised Crime Agency (Soca), both through personal contact and via the Soca Regulators' Forum, which meets quarterly. Under new legislation amending the Proceeds of Crime Act 2002 (POCA), a failure to issue a typed suspicious activity report online will be a criminal offence. Under section 330/331 of POCA it is already an offence, punishable by a fine, not to report suspicious activities.
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