ANTI-MONEY LAUNDERING MODEL POLICY

The new Regulations require firms to provide training for staff on money laundering and terrorist financing issues and set up effective systems to counter these threats. If your firm has not yet set up an anti money laundering policy then please contact TCP to see how we can help. We can provide a bespoke policy immediately. 

The Compliance Partner has given great assistance to my firm in advising us and drafting our policy to comply with the Money Laundering and related regulations. The policy has been drafted to suit our own particular requirements, having regard to the nature of the legal work undertaken by us. We received fairly short notice of a supervisory visit by the Solicitors Regulation Authority and Vanessa has been most helpful in drafting our policy in good time for that visit.

Nick Parr, Pinto Potts LLP

ANTI-MONEY LAUNDERING MODEL POLICY includes;

CONTENTS

1. Purpose of the policy

2. Sources of advice

3. The legislation

4. Why is the policy necessary?

5. Staff obligations

6. Customer due diligence (CDD)

7. Degrees of risk

8. Cash policies

9. CDD procedures and documentation

APPENDICES

A. The Proceeds of Crime Act (2002) and the Terrorism Act (2000)

B. Internal Money Laundering Report Form

C. Beneficial Owners

D. Guidance on How to Use the Electronic Verification System

E. Firm Wide and Case Area Risk Assessment

F. Money Laundering "ALERTS"

G. Precedent Customer Due Diligence Forms