Best In Move is committed to upholding the highest ethical standards and complying with all applicable laws and regulations, especially those concerning the prevention of money laundering and the financing of terrorism. This commitment is reflected in our Anti-Money Laundering (AML) Policy, which outlines the principles and procedures we have established to deter, detect and report any suspicious activities. This policy applies to all employees, officers, agents and anyone acting on our behalf and is designed to comply with UK Money Laundering Regulations, including The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 and any subsequent amendments.
To ensure AML compliance, Best In Move adopts a risk-based approach. This involves identifying and assessing the specific risks of money laundering and terrorist financing relevant to our business, implementing proportionate policies, procedures and controls and continuously monitoring and enhancing their effectiveness. We conduct Customer Due Diligence (CDD) when establishing business relationships, carrying out significant transactions, suspecting money laundering or terrorist financing or doubting the accuracy of previously obtained information. CDD includes verifying customer identity using reliable sources, identifying beneficial owners and understanding the purpose of the business relationship. Enhanced Due Diligence (EDD) is applied in higher-risk situations, such as dealing with politically exposed persons (PEPs), customers from high-risk countries or complex transactions and involves more stringent scrutiny and monitoring.
Best In Move maintains thorough records of customer identification data, transaction details, internal and external reports, risk assessments and relevant policies and procedures, adhering to legal retention periods. We also have procedures in place for employees to identify and report any suspicious activity to the Money Laundering Reporting Officer (MLRO), who will evaluate the report and if necessary, file a Suspicious Activity Report (SAR) with the National Crime Agency (NCA). Regular AML training is provided to all relevant employees to ensure they understand their responsibilities and can identify and report suspicious activities.
To ensure ongoing compliance, Best In Move has established internal controls, including designating an MLRO, conducting regular internal audits, implementing secure procedures for handling customer information and regularly reviewing and updating this policy. Best In Move will cooperate fully with law enforcement agencies in any money laundering or terrorist financing investigation. This AML Policy will be reviewed and updated regularly to ensure it remains current with legal and regulatory requirements and any changes in our business activities.
