Anti-Money Laundering (AML) and Anti-Slavery Policy

Anti-Money Laundering (AML) and Anti-Slavery Policy

Prevolution Health Ltd

1. Introduction

Prevolution Health Ltd is committed to the highest standards of ethical conduct and integrity in its business activities. This policy outlines our commitment to preventing and combating money laundering, terrorist financing, and modern slavery in all its forms. We comply with all relevant legislation, including the Money Laundering Regulations 2017 and the Modern Slavery Act 2015 as updated and applicable in 2024.

2. Purpose

The purpose of this policy is to:

  • Prevent the use of our business operations for money laundering and terrorist financing.
  • Ensure that our business and supply chains are free from slavery, forced labor, and human trafficking.
  • Establish a framework for identifying, reporting, and mitigating risks associated with money laundering and modern slavery.

3. Scope

This policy applies to all employees, contractors, consultants, officers, and directors of Prevolution Health Ltd, as well as any other parties associated with our business, including suppliers and partners.

4. Definitions

  • Money Laundering: The process of concealing or disguising the origins of money obtained through illegal means to make it appear as if it originated from legitimate sources.
  • Modern Slavery: Encompasses slavery, servitude, forced and compulsory labor, and human trafficking.

5. Anti-Money Laundering (AML) Policy

5.1 Compliance with Laws and Regulations
Prevolution Health Ltd will comply with all applicable AML laws and regulations, including customer due diligence, record-keeping, and reporting suspicious activities.

5.2 Customer Due Diligence (CDD)
We will conduct appropriate CDD on all clients, customers, and third parties to identify and verify their identities, ensuring that they are who they claim to be.

5.3 Suspicious Activity Reporting (SAR)
All employees must report any suspicious activities to the appointed Money Laundering Reporting Officer (MLRO). The MLRO will evaluate the information and, if necessary, report it to the relevant authorities.

5.4 Training
All employees will receive regular training on AML laws, this policy, and their responsibilities in preventing money laundering.

6. Anti-Slavery Policy

6.1 Commitment to Preventing Modern Slavery
Prevolution Health Ltd has a zero-tolerance approach to modern slavery. We are committed to acting ethically and with integrity in all our business dealings and relationships.

6.2 Supplier and Partner Due Diligence
We will ensure that all suppliers and partners comply with our Anti-Slavery Policy. This includes conducting risk assessments and audits where necessary.

6.3 Reporting and Whistleblowing
Employees, suppliers, and partners are encouraged to report any concerns related to modern slavery or human trafficking in our operations or supply chain. We provide a confidential whistleblowing channel for such reports.

6.4 Training and Awareness
We will provide regular training to our employees on the risks of modern slavery and how to identify and report it.

7. Responsibilities

  • Board of Directors: The Board has overall responsibility for ensuring compliance with this policy.
  • Money Laundering Reporting Officer (MLRO): The MLRO is responsible for overseeing AML compliance, including reporting suspicious activities.
  • All Employees: Employees are responsible for familiarising themselves with and adhering to this policy.

8. Monitoring and Review

This policy will be reviewed annually by the compliance team to ensure its effectiveness and alignment with current legal requirements. Any necessary amendments will be made and communicated to all relevant parties.

9. Consequences of Non-Compliance

Non-compliance with this policy may result in disciplinary action, up to and including termination of employment, as well as potential legal action.

10. Policy Approval

This policy has been approved by the Board of Directors of Prevolution Health Ltd on 28/08/2024