Anti-Money Laundering (AML) Policy for Africa Beyond Tours &
Safari Company
1. Introduction
Africa Beyond Tours & Safari Company is committed to the highest standards of anti-money laundering (AML) compliance and requires management and employees to adhere to these standards to prevent the use of our services for money laundering or terrorist financing purposes.
2. Policy Statement
Our AML policy is designed to ensure compliance with all applicable laws and regulations, to prevent money laundering and terrorist financing, and to ensure that our operations are conducted with integrity.
3. Customer Due Diligence (CDD)
– Identification and Verification: All customers must provide valid identification and necessary documentation before engaging in business with Africa Beyond Tours & Safari Company. This includes, but is not limited to, passports, national IDs, and proof of address.
– Risk Assessment: Customers will be assessed for risk based on factors such as the nature of their business, geographic location, and transaction patterns. High-risk customers will be subject to enhanced due diligence.
– Ongoing Monitoring: Transactions will be monitored on an ongoing basis for unusual or suspicious activity. Regular reviews of customer information and transaction history will be conducted.
4. Record Keeping
Africa Beyond Tours & Safari Company will maintain records of all transactions, customer identification, and due diligence processes for a minimum of five years. These records will be kept secure and confidential, accessible only to authorized personnel.
5. Reporting Suspicious Activity
– Internal Reporting: Employees are required to report any suspicious activity to the designated AML Compliance Officer immediately. This includes any transaction or behavior that deviates from the customer’s normal activity.
– External Reporting: The AML Compliance Officer will evaluate the suspicious activity report and, if necessary, file a report with the relevant financial intelligence unit or regulatory authority in accordance with local laws and regulations.
6. Training and Awareness
All employees will receive regular training on AML laws, regulations, and internal policies. Training will include recognizing and reporting suspicious activities, understanding customer due diligence procedures, and staying updated on AML regulations.
7. Compliance Officer
Africa Beyond Tours & Safari Company will appoint a designated AML Compliance Officer responsible for implementing and overseeing the AML program. The Compliance Officer will ensure that all policies and procedures are followed, and that the company remains compliant with all relevant laws and regulations.
8. Review and Update of Policy
This AML policy will be reviewed and updated annually, or more frequently if required, to ensure it remains effective and compliant with applicable laws and regulations. Changes will be communicated to all employees and integrated into ongoing training programs.
9. Penalties for Non-Compliance
Failure to comply with this AML policy may result in disciplinary action, including termination of employment. Non-compliance may also lead to legal penalties for both the individual and Africa Beyond Tours & Safari Company.
10. Conclusion
Africa Beyond Tours & Safari Company is committed to the fight against money laundering and terrorist financing. By implementing this AML policy, we aim to protect our business, customers, and community from the risks associated with these illegal activities.
For any questions or further information, please contact us.
+255782299999,
info@africabeyondtours.co.tz
Usariver – Arusha, Tanzania