In money-laundering controls, the official designated to receive suspicious activity reports within a financial institution is the:

• A. Compliance Officer
• B. Money Laundering Reporting Officer
• C. Chief Risk Officer
• D. Head of Operations

Answer: (B)

Receiving suspicious activity reports within a financial institution is assigned to the Money Laundering Reporting Officer. This role is specifically dedicated to overseeing anti-money-laundering controls, evaluating alerts, and ensuring timely filing of SARs with the appropriate authorities. The MLRO serves as the central point of contact for regulators and coordinates internal investigations and escalation, maintaining the institution’s AML compliance. Other governance roles like Compliance Officer, Chief Risk Officer, or Head of Operations support the AML program, but they are not the designated recipient of SARs.