Anti Money Laundering Policy Template For Small Business

The company takes a zerotolerance approach to money laundering terrorist activity and other such financial crimes.

Anti money laundering policy template for small business. Part two explores the practical requirements to implement policies controls and procedures provide training to relevant employees and comply with record keeping. It is therefore important that businesses even low risk ones have procedures and policies in place to identify and prevent money laundering within their company. This three part series looks at the money laundering terrorist financing and transfer of funds information on the payer regulations 2017 mlr 2017 from the perspective of small firms and provides tips on effective compliance. Fourth directive ready anti money laundering and counter terrorism financing policy template 18th october 2017 in light of the new money laundering regulations having come into full effect in june vinciworks has made available a free anti money laundering and counter terrorist financing policy template. 1 1 mir limited uk ltd the company has set out this anti money laundering aml policy that is applicable to all staff to help prevent and detect potential money laundering or terrorist financing activity.

A policy statement is a document that includes your anti money laundering policy controls and the procedures your business will take to prevent money laundering. The proceeds of crime act 2002 poca is the primary legislation governing anti money laundering. Redfern s first piece of guidance concerns creating an anti money laundering policy for the small business or sole trader so there is a documented framework for identifying the potential for money laundering. Anti money laundering aml compliance software our anti money laundering compliance plus software is a fully automated system that allows you to record all the aml data for all your clients plus it deals with all other aspects of aml compliance. He stated it is a key requirement to put a solid anti money laundering procedure in place for your business.