JVC USA PATRIOT Act Compliance Kit (PACK)
Jewelers Vigilance Committee offers anti-money laundering (AML) contract services to help you develop your AML program, train your employees and test your program. Please contact Cecilia Gardner (firstname.lastname@example.org) or phone 212-997-2002 for pricing.
Development of an Anti-Money Laundering Program and Policy
JVC’s Patriot Act Compliance Kit (“PACK”) is designed to help individual businesses develop an anti-money laundering program and policy that will ensure their compliance with the Patriot Act requirements. However, many businesses prefer to have more hands-on help as they walk through the steps necessary to achieve compliance. For those who are interested in one-on-one assistance, JVC is available to work with you to design and develop your anti-money laundering program.
JVC will meet you at your place of business, conduct a risk assessment for your business, provide you with a detailed description of the regulations, and modify the templates that come with your PACK so that they suit the individual nature of your business. After about three to five hours of your time, you will have the information and documentation that you need to meet and continue your compliance requirements.
Program and Policy
As part of the anti-money laundering requirements under the Patriot Act, each company that is subject to the rules is required to develop and implement a training program for employees. Training is required for all employees who may be involved in the purchase and sales of covered goods that might expose your business to the risks of money laundering or terrorist financing attempts. If you prefer to make use of JVC’s expertise on this issue, JVC is available to conduct training for your employees. JVC will provide your company with a written employee-training program and will train your employees to recognize and deal with money-laundering attempts within the scope of their employment. At the completion of the training program, JVC will provide a record of the successful implementation of the employee-training program.
Full Testing of
Anti-Money Laundering Programs
Government regulations specify that each company’s anti-money laundering program and policy be tested periodically to ensure that an adequate program is monitored and maintained. This testing needs to be done approximately once a year by an independent entity; specifically, it may not be conducted by your company’s compliance officer. A company employee or an outside party, such as the company’s accountant or attorney, who is familiar with the AML rules and your company’s business, may conduct the testing. However, JVC is also available to test your company’s anti-money laundering program and policy. As part of its services, JVC will review and test every element of your AML program – your risk assessment, the functioning of your Compliance Officer, your AML Program, and the training you provide to relevant employees. JVC will pay special attention to any high risk functions and/or transactions in which your company engages.
Quick Review of
Anti-Money Laundering Programs
JVC will review your AML program to make sure you complied with all the required steps. This service will check to see if you have complied with all the required elements of compliance. Click for complete information on AML program testing.