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Anti-Money Laundering (AML) Policy


SaveThem India Foundation is committed to preventing money laundering and terrorist financing and complying with all applicable anti-money laundering (AML) laws and regulations, including the Prevention of Money Laundering Act, 2002, and other relevant legislation.

Purpose

The purpose of this AML Policy is to establish and maintain effective systems and controls to mitigate the risks of money laundering and terrorist financing.

Scope

This policy applies to all employees, volunteers, and associates of SaveThem India Foundation.

Responsibilities

  • Management: Ensure compliance with AML laws and regulations and oversee the implementation of this policy.
  • Employees and Volunteers: Adhere to this policy and report any suspicious activities to the designated AML Compliance Officer.
  • AML Compliance Officer: Monitor and review compliance with this policy, conduct training, and report suspicious activities to the relevant authorities.

Risk Assessment

SaveThem India Foundation conducts regular risk assessments to identify and evaluate the risks of money laundering and terrorist financing associated with its activities.

Customer Due Diligence (CDD)

SaveThem India Foundation performs CDD measures to verify the identity of donors and beneficiaries and assess the risk they may pose.

Reporting Suspicious Activities

Employees and volunteers are required to report any suspicious activities or transactions to the AML Compliance Officer, who will then report to the relevant authorities.

Training and Awareness

Regular training sessions are conducted to ensure that all employees and volunteers are aware of their responsibilities under this policy and can identify and report suspicious activities.

Record Keeping

SaveThem India Foundation maintains accurate and complete records of all transactions and customer identification information for a minimum of five years.

Policy Review

This policy is reviewed annually and updated as necessary to ensure continued compliance with AML laws and regulations.