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Anti-Money Laundering Policy

Money Laundering is the process utilized by criminal elements as a method of concealing the true origin and ownership of the proceeds of illegal activities. The phrase ‘money laundering’ covers all methods used to change the identity of illegally obtained money so that it can be used for legitimate purposes.

Money laundering is not restricted to the proceeds of drug trafficking. It includes proceeds from other criminal activities such as armed robbery, tax evasion, smuggling, prostitution, terrorism, arms dealing, fraud, forgery and counterfeiting, bribery and corruption.

Money laundering is a major threat to financial institutions and the economic stability of entire countries. Governments worldwide have introduced legislation to prevent it, including specific money laundering offences and legally imposed requirements on institutions operating in their jurisdictions.

The United Kingdom Government, using the Proceeds of Crime Act 2002 (PoCA), the Terrorism Act 2000 (TA00) and the Money Laundering Regulations 2007, has written strict laws and regulations to help prevent money laundering activities

CEC has a comprehensive compliance program within its organization to ensure compliance with government rules and regulations. We do not want CEC international money transfer services to be used for illegal money laundering activities. It is our policy that we follow both the letter and the spirit of the law and the regulations.

Click on the links below to read the CEC Anti-Money Laundering Training Guide, Compliance Program, and other Anti-Money Laundering (AML) documents and web Links to government websites such HMRC, SOCA and Money Services Business Registration forms are also available.

United Kingdom Anti-Money Laundering Documents

CEC AML Documents – English

1. U. K. Agent Compliance Training Guide.

2. U. K. MSB Agent Registration form.

3. U. K. Anti money laundering declaration form.

4. Further information form.

5. SAR – Form.

6. “It’ the law” What we need from you - Customer guide.

7. “It’s the law” Branch Poster.

These documents are in .pdf format. To receive these documents in any other format, or to receive a printed copy of these documents, please email a request to aml@cecltd.com  or call CEC AML Compliance at +44-208-886-4488,  

U.K. Government Forms and Links

1. Money Laundering Regulations 2007

2. MLR 8 at a glance - a quick guide to the prevention of money laundering and terrorist financing

3. EU Payments Regulation 2007 and The Transfer of Funds Regulations

Useful links

You can find further information and help about Money Laundering Regulations and reporting serious crime on the following sites.

HM Treasury - http://www.hm-treasury.gov.uk/

Bank of England - http://www.bankofengland.co.uk/ publications/financialsanctions/index.htm

The Financial Services Authority (FSA) - http://www.fsa.gov.uk/

The Office of Fair Trading (OFT) - http://www.oft.gov.uk/mlr

Serious Organised Crime Agency (SOCA) - http://www.soca.gov.uk/

Home Office - http://www.homeoffice.gov.uk/

Financial Action Task Force (FATF) - http://www.fatf-gafi.org/pages/0, 2966,en_32250379_32235720 _1_1_1_1_1,00.html

Proceeds of Crime Act – see part 7 section 327 to 340 - http://www.opsi.gov.uk/acts/ acts2002/20020029.htm

Compliance Officer,
Compliance Department,
Currency Exchange Corporation Ltd,
125 – 127 Bramley Road,
London,
N14 4UT

Tel  - 0208 886 4488
Fax – 0208 886 4499