Jurisdiction(s):
United Kingdom

Key definition

Money definition

What does Money mean? In legal practice, money refers to the generally accepted means of payment used to discharge monetary obligations, pay for goods and services, and satisfy judgments. It ordinarily includes cash (banknotes and coins, typically sterling in the UK and euro in Ireland) and sums standing to the credit of a bank account transferable by cheque or electronic transfer; it can also include foreign currency if agreed. The term is descriptive rather than strictly defined, though related concepts are defined in legislation. 'Legal tender' identifies what must be accepted in settlement of a debt: in England and Wales, Bank of England notes...

UK MLCO board-level job description and role profile template under the Money Laundering Regulations 2017

Published by a LexisNexis Risk & Compliance expert

Precedents

1 MLCO details

Name of organisation [ insert name ]
Name of MLCO [ insert name ]
Status of MLCO [ insert description showing board-level or equivalent status, eg director and senior leadership team member ]
Details of any other roles held within the organisation [ insert details of any additional roles held, eg COO ]
Date appointed [ insert date ]

2 Role summary

Serve as the board-level (or equivalent) officer accountable for the organisation’s compliance with the money laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLR 2017), SI 2017/692, and to:

2.1 [ act as the primary liaison with the [ insert name of relevant anti-money laundering (AML) supervisor ] on matters concerning anti-money laundering (AML), counter-terrorist financing (CTF) and counter-proliferation financing; ]
2.2 [ lead engagement with the [ insert name of relevant AML supervisor ] on AML, CTF and counter-proliferation financing; ]
2.3 provide senior management leadership on AML, CTF and counter-proliferation financing within the organisation;
2.4 support the organisation’s nominated officer; and
2.5 ensure the organisation’s AML, CTF and counter-proliferation financing efforts...

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Web page updated on 22/05/2026

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