Introduction:
Welcome to the Training Guide for the Two-Year Effectiveness Review at Leduc Beck Antiques & Jewellery. In this guide, we will explore the methodologies and procedures involved in evaluating the effectiveness of our compliance program in accordance with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) and its associated Regulations. This review is critical in ensuring that our organization is equipped to detect and prevent money laundering (ML) and terrorist financing (TF) activities effectively.
By addressing these deficiencies and implementing the recommended action plans, the organization can enhance its AML/CTF compliance framework. Regular monitoring, ongoing training, and stringent adherence to documentation protocols are crucial to maintaining a robust and effective compliance program, ensuring compliance with regulatory standards and mitigating potential risks effectively.