AML Policy

Anti-Money Laundering (AML) Policy

Introduction

Mang’ara Adventures Safari is committed to the highest standards of Anti-Money Laundering (AML) compliance and Counter-Terrorist Financing (CTF) practices. This policy outlines the procedures and controls implemented to detect, prevent, and report money laundering and terrorist financing activities.

Objectives

  • To prevent Mang’ara Adventures Safari from being used as a conduit for money laundering and terrorist financing activities.
  • To ensure compliance with all applicable AML laws and regulations.
  • To protect the integrity and reputation of Mang’ara Adventures Safari.
  • To provide training and guidance to employees on recognizing and reporting suspicious activities.

Scope

This AML Policy applies to all employees, directors, and officers of Mang’ara Adventures Safari. It covers all activities related to the company’s operations, including customer interactions, transactions, and partnerships.

Responsibilities

  • Compliance Officer: Designated individual responsible for overseeing AML compliance, implementing this policy, and ensuring adherence to relevant laws and regulations.
  • Employees: Required to understand and comply with the AML policy, report any suspicious activities, and participate in ongoing training programs.

Customer Due Diligence (CDD)

  1. Identification and Verification:
  • Obtain and verify the identity of customers prior to establishing a business relationship.
  • Collect information such as full name, date of birth, nationality, address, and identification documents (passport, national ID).
  1. Risk Assessment:
  • Assess the risk profile of customers based on factors such as the type of service, geographical location, and the nature of the customer’s business.
  • Apply enhanced due diligence for high-risk customers, including politically exposed persons (PEPs) and entities from high-risk jurisdictions.

Record Keeping

  • Maintain accurate records of customer identification, transactions, and any reports of suspicious activity for a minimum of five years.
  • Ensure records are easily accessible and can be promptly provided to regulatory authorities upon request.

Reporting Suspicious Activity

  • Employees must report any suspicious activity to the Compliance Officer without delay.
  • The Compliance Officer will review the reported activities and, if necessary, file a Suspicious Activity Report (SAR) with the relevant authorities.

Training and Awareness

  • Provide regular AML training to all employees to ensure they understand their responsibilities and the importance of AML compliance.
  • Training programs will cover topics such as identifying suspicious activities, customer due diligence procedures, and reporting obligations.

Monitoring and Auditing

  • Implement ongoing monitoring of customer transactions to detect unusual or suspicious patterns.
  • Conduct regular audits of AML procedures and controls to ensure their effectiveness and compliance with regulatory requirements.

Compliance with Laws and Regulations

  • Stay updated on changes to AML laws and regulations and adjust policies and procedures accordingly.
  • Cooperate fully with regulatory authorities and comply with all reporting requirements.

Confidentiality

  • Ensure that information related to AML investigations and reports is kept confidential and disclosed only to authorized personnel and regulatory authorities.

Penalties for Non-Compliance

  • Employees found to be in violation of this AML policy may face disciplinary action, up to and including termination of employment.
  • Mang’ara Adventures Safari may also face legal and financial penalties for non-compliance with AML laws and regulations.

Review and Updates

  • This AML policy will be reviewed and updated annually or as needed to reflect changes in regulations and best practices.

Contact Information

For questions or concerns regarding this AML policy, please contact the Compliance Officer at:

Phone: +255 786 475 000
Email: mangaraadventure@gmail.com

This AML policy demonstrates Mang’ara Adventures Safari’s commitment to preventing money laundering and terrorist financing. By adhering to these guidelines, we aim to protect our business, customers, and the broader community from financial crime.