Legal · Issued by Herd Hire Ltd
Anti Money Laundering Policy.
At Herd Hire Ltd we are committed to carrying on our business ethically and in line with Anti Money Laundering (AML) regulations.
Scope
We ensure compliance with the Proceeds of Crime Act 2002, the Terrorism Act 2000 and the Money Laundering Regulations. All employees act as company representatives and must adhere to ethical standards. Our objective is to prevent money laundering exposure and fulfil our regulatory reporting obligations.
Policy statement
We completely prohibit facilitating money laundering. Money laundering is illegal. We commit to conducting business fairly, honestly, transparently and in accordance with applicable laws.
Money laundering definition
Under the Proceeds of Crime Act 2002 it is unlawful to: conceal, disguise, convert, transfer or remove criminal property from the UK; participate in arrangements that facilitate criminal property acquisition or control by others; or acquire, use or possess criminal property. Criminal property encompasses money, real estate, personal property and intangible assets, these offences apply to all employee roles regardless of transaction size.
Why this policy exists
Compliance is a legal requirement. We prioritise integrity, transparency and accountability. The regulations serve to detect suspicious activity, prevent criminal involvement and maintain financial system integrity. Violations result in disciplinary action, including dismissal. Legal penalties include unlimited fines and up to 14 years imprisonment.
Implemented controls
A Money Laundering Reporting Officer (Group Finance Director) is appointed. Customer identity is verified. Business relationships are monitored. Risk assessments and reporting mechanisms are in place. Records are retained for a minimum of five years.
Public commitment
Herd Hire Ltd recognises that money laundering is a criminal offence and plays no part in any ethical business. We commit to legal compliance and expect all representatives to maintain this commitment.