Sha’an Residence is committed to preventing and detecting any activities related to money laundering and terrorist financing. This Anti-Money Laundering (AML) Policy outlines our commitment to comply with all applicable laws and regulations, and the measures we take to prevent our services from being used for illegal purposes.
1. Policy Statement
Sha’an Residence has a zero-tolerance policy towards money laundering and terrorist financing. We are dedicated to maintaining the highest standards of compliance and integrity in all our business practices.
2. Compliance with Laws
We comply with all relevant national and international AML laws and regulations. This includes, but is not limited to, the requirements set forth by the Financial Action Task Force (FATF) and local regulatory authorities.
3. Customer Due Diligence (CDD)
We implement stringent Customer Due Diligence procedures to verify the identity of our guests and understand the nature of their activities. This includes:
Collecting and verifying identification information during the reservation and check-in process.
Monitoring and documenting the source of funds for transactions when necessary.
Conducting enhanced due diligence for high-risk customers and transactions.
4. Record Keeping
Sha’an Residence maintains comprehensive records of all transactions and customer interactions. These records include:
Identification documents
Transaction details
Communication records
All records are retained for a minimum period as required by applicable law, and are available for inspection by regulatory authorities upon request.
5. Monitoring and Reporting
We continuously monitor transactions and activities for signs of suspicious behavior. Any unusual or potentially suspicious activity is promptly reported to the relevant authorities. Our reporting procedures ensure compliance with mandatory reporting obligations, including filing Suspicious Activity Reports (SARs) when necessary.
6. Employee Training
All employees of Sha’an Residence receive regular training on AML policies and procedures. This training includes:
Understanding AML laws and regulations
Recognizing signs of money laundering and terrorist financing
Procedures for reporting suspicious activities
7. Internal Controls and Audit
Sha’an Residence has established robust internal controls to ensure compliance with AML regulations. We conduct regular audits of our AML policies and procedures to identify areas for improvement and to ensure the effectiveness of our AML program.
8. Cooperation with Authorities
We cooperate fully with law enforcement and regulatory authorities in the investigation and prosecution of any activities related to money laundering or terrorist financing. This includes providing access to records and responding promptly to any requests for information.
9. Policy Review
This AML Policy is reviewed regularly and updated as necessary to ensure it remains effective and in compliance with current laws and regulations. Any changes to this policy are communicated to all employees and relevant stakeholders.
10. Contact Us
If you have any questions or concerns about our Anti-Money Laundering Policy, please contact us:
Sha’an Residence
Email: [email protected]
Phone: [your phone number]
Address: Phase 16, Ita Utu Crescent, Guzape, FCT Abuja, Nigeria.
By engaging with Sha’an Residence, you acknowledge that you have read, understood, and agreed to this Anti-Money Laundering Policy.