An Anti-Money Laundering and Counter-Terrorist Financing Policy is an internal document that sets out the rules and standards to which staff must adhere to prevent the proceeds of crime entering (or being transferred within) the financial system. All staff must be made aware of the policy contents to ensure an understanding of the current risks and the controls in place to mitigate them.
This Anti-Money Laundering and Counter-Terrorist Financing Policy template is provided in Word format over 12 pages and 3,656 words. Elements in [square brackets] require editing to make it specific to your organisation.
Design is based on financial services organisations globally, aligning to FATF, and covers the following aspects:
1. Policy Statement
2. Scope
3. Minimum Standards
3.1 Money Laundering and Terrorist Financing
3.2 Risk Assessment
3.3 Client Due Diligence
3.4 Enhanced Due Diligence
3.5 Client and Transaction Monitoring
3.6 Law Enforcement and Regulatory Engagement
4. Governance
4.1 Roles and Responsibilities
4.2 Training and Communication
4.3 Compliance Monitoring and Review
4.4 Reporting and MI
4.5 Escalations
5. Records and Retention
6. Contacts