General Principles Of Anti-Money Laundering And Counter-Terrorist Financing

Author:Mr John Gosling, Antonia Hardy, Daniel Wood, Garry Ferguson, Denise Wong, Nigel Weston and John Rogers
Profession:Walkers
 
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Introduction

Walkers provides legal services from its offices in the British Virgin Islands, the Cayman Islands, Dubai, Hong Kong, Ireland, Jersey, London and Singapore. Each of the countries in which Walkers operates is a member of either the Financial Action Task Force ("FATF") or a regional FATF-style body such as the Caribbean Financial Action Task Force ("CFATF").

Walkers is committed to the highest standards of anti-money laundering and counter-terrorist financing compliance and requires management and staff in each of its offices to adhere to these standards in order to protect and prevent Walkers and its Clients from being misused for the purpose of money laundering, terrorist financing or other financial crime.

Walkers' offices globally are regulated by a variety of different Regulators for AML & CTF purposes. Each office is therefore subject, in addition to these Principles and Walkers' policies and procedures, to the applicable AML & CTF laws, regulations and regulatory guidance of the countries in which it operates and/or provides services. In developing these Principles, Walkers has drawn upon its own knowledge and experience as well as the requirements of national and international laws and regulations and the guidelines and recommendations of national and international AML & CTF policy makers.

Purpose of this document

The purpose of this document is to set out the general principles to which Walkers adheres at a global level for the purposes of anti-money laundering and counter-terrorist financing ("AML & CTF").

These Principles set out the general framework and minimum requirements necessary to ensure that Walkers fulfills its obligations of deterring, detecting and disclosing money laundering and terrorist financing and apply to all management, staff, offices and legal entities within Walkers.

These Principles do not cover the specific AML & CTF risk mitigation measures to be applied by Walkers or its offices in the day-to-day running of its business. Each office maintains policies and procedures, as required, to ensure compliance with these Principles, Walkers' policy and with the AML & CTF laws, regulations, and regulatory guidance applicable to the office and the services it provides.

Responsibilities

The protection of Walkers, its management and staff and its clients against the reputational, regulatory, criminal, operational and financial risks associated with inadequate AML & CTF policies, procedures and controls is...

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