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Anti-Money Laundering Policy

UKISS Consultancy LTD Anti-Money Laundering Policy V.1

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1. POLICY STATEMENT

UKISS Consultancy Ltd is steadfast in its commitment to adhere to all applicable laws and regulations concerning anti-money laundering (AML) and combating the financing of terrorism (CFT). We pledge to proactively prevent the utilization of our business for money laundering and terrorism financing activities and will take every essential step to ensure our operations are transparent, ethical, and compliant.

2. RISK ASSESSMENT

UKISS Consultancy Ltd has conducted a thorough risk assessment to identify potential money laundering and terrorism financing risks within our business operations. Based on this assessment, stringent controls and procedures have been implemented to effectively mitigate these risks.

3. CUSTOMER DUE DILIGENCE

We have instituted comprehensive customer due diligence (CDD) procedures aimed at identifying and verifying the identity of our customers.

 

Our CDD procedures include:
 

  • Obtaining and verifying the customer's identity, encompassing their name, address, and date of birth.

  • Continuous monitoring of customer activity to ensure consistency with expected behaviour.

  • Identifying the beneficial owner of a customer, where applicable.

  • Acquiring additional information or documentation as necessary to verify a customer's identity.

4. SUSPICIOUS ACTIVITY MONITORING AND REPORTING

Our company has implemented robust systems to diligently monitor customer activity for any suspicious transactions inconsistent with a customer's known business or financial profile. Any identified suspicious activity will be promptly reported to the appropriate regulatory authorities.

5. STAFF TRAINING

All staff members involved in customer due diligence or AML compliance activities at UKISS Consultancy Ltd will undergo comprehensive training to ensure a thorough understanding of their roles and responsibilities in preventing money laundering and terrorism financing. Ongoing training will be provided to keep staff members abreast of any changes to AML regulations, or our policies and procedures.

6. RECORD KEEPING

UKISS Consultancy Ltd is committed to maintaining meticulous records of all customer due diligence, suspicious activity reports, and other AML compliance activities. These records will be securely retained for a minimum of five years and will be made available to regulatory authorities upon request.

7. COMPLIANCE OVERSIGHT

Our AML compliance program will be under the vigilant oversight of a designated compliance officer. The compliance officer will ensure the effectiveness of our policies and procedures, adequate staff training, and the implementation of appropriate measures to address any compliance deficiencies.

8. INDEPENDENT REVIEW

UKISS Consultancy Ltd’s AML compliance program will undergo periodic independent reviews to guarantee its ongoing effectiveness and compliance with all applicable laws and regulations.

9. CONSEQUENCES OF NON-COMPLIANCE

Non-compliance with this Policy may result in disciplinary action, up to and including termination of employment. In addition, UKISS Consultancy Ltd may be subject to regulatory action and fines for non-compliance with AML regulations.

10. POLICY REVIEW

This Policy will undergo regular reviews and updates to ensure its ongoing effectiveness and compliance with all applicable laws and regulations. Any updates to the Policy will be communicated to staff members and incorporated into their training.

Policy Name: Anti-Money Laundering Policy
Version: 1

Effective Date: 30th Jan 2024

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