Anti-Money Laundering (AML) Policy
Golden Ledger LTD
Effective Date: [Insert Date]
1. Purpose Golden Ledger LTD is committed to preventing money laundering and terrorist financing. This Anti-Money Laundering (AML) Policy outlines our procedures to ensure compliance with applicable laws and regulations, protect our customers, and maintain the integrity of our services.
2. Scope This policy applies to all employees, contractors, and partners of Golden Ledger LTD. It governs all transactions, operations, and customer interactions, ensuring that our business is conducted in accordance with AML regulations.
3. Key Principles
- Compliance with Regulations: Adhering to all applicable laws, including the UK’s Money Laundering Regulations 2017 and related EU directives.
- Risk-Based Approach (RBA): Assessing and mitigating risks associated with money laundering and terrorist financing.
- Transparency: Ensuring clear and accurate reporting of all financial transactions.
4. Customer Due Diligence (CDD) Golden Ledger LTD implements a robust CDD process to verify the identity of customers:
- Identity Verification: Collecting valid government-issued ID and proof of address (e.g., utility bill).
- Enhanced Due Diligence (EDD): Conducting additional checks for high-risk customers, such as politically exposed persons (PEPs) or those from high-risk jurisdictions.
- Ongoing Monitoring: Reviewing and updating customer information periodically.
5. Record-Keeping We maintain detailed records of all customer interactions and transactions for at least 5 years, including:
- Copies of identification documents.
- Transaction details.
- Correspondence related to CDD and EDD.
6. Reporting Suspicious Activities All employees must promptly report suspicious activities or transactions to the designated Money Laundering Reporting Officer (MLRO). The MLRO is responsible for:
- Investigating reported cases.
- Filing Suspicious Activity Reports (SARs) with the relevant authorities.
7. Training and Awareness Golden Ledger LTD provides regular AML training for all employees to ensure they understand:
- How to identify and report suspicious activities.
- Updates to AML laws and regulations.
8. Internal Controls To mitigate risks, we implement:
- Segregation of duties to ensure checks and balances.
- Regular audits to verify AML compliance.
9. Non-Compliance Consequences Violations of this policy may result in disciplinary action, including termination of employment or partnership. Non-compliance may also lead to legal consequences, such as fines or criminal charges.
10. Review and Updates This policy will be reviewed annually or as required to reflect changes in AML regulations or business operations.
Contact Information For any questions or concerns regarding this policy, contact our Money Laundering Reporting Officer (MLRO):
- Golden Ledger LTD
- 42 Sheals Crescent, Maidstone, Kent ME15 6TJ, United Kingdom
- Email: [email protected]