Please enable JavaScript.
Coggle requires JavaScript to display documents.
bribery and money laundering and terrorist financing - Coggle Diagram
bribery and money laundering and terrorist financing
Bribery (firms Must)
must not offer or accept anything that could be considered a bribe
have plans in place to comply with law
report any activity they are aware off
act with due diligences to preform periodic evidences
retain information on how the firm met the requirements
Bribery (Members) Requirements
must not offer or accept anything that could be considered a bribe
ensure they have adequate knowledge of bribery and corruption
report any activity they are aware off
Money Laundering Requirements (Firms)
must not facilitate or be complicit in
have systems and training in place
report any suspicions of money laundering
evaluate and review periodically the risk of this from current clients
use reliance's when there is appropriate levels of confidences
take appropriate measures to understand the client and purpose of the transaction
ID clients by undertaking ALM checks
record and retain information
Money Laundering (Members)
must not facilitate or be complicit in
report any suspicions of money laundering
Bribery Guidance (firms)
prepare a written policy covering bribery
put a register in place to encourage transparency
provide clear guidance to staff
publish a code of behavior
Bribery Guidance (Members)
declare certain items
attend training
be familiar and act in compliance with the employment policy
Money Laundering Guidance (Firms)
have written policy addressing this
have appropriate governances in place to control this in line with the type of work which is undertaken
provide training
keep reports of suspicion of money laundering
Money Laundering guidance (Members)
keep up to date with current training/ regulations
comply with the companies policy
keep reports of suspicious activity
6 principles of the bribery act
Proportionate procedures
Top level commitment
Risk assessment
Due diligence
Communication
Monitoring and review