The legislative requirements concerning anti-money laundering procedures are lengthy and complex. The money laundering policy has been written so as to enable CABI to meet the legal requirements in a way which is proportionate to the low risk to CABI of contravening the legislation.
Due to the nature of our products and services, it is unlikely that attempts would be made to launder funds through CABI, but staff should be alert to the possibility.
The purpose of this policy is to make staff aware of current legislation, their responsibilities and the consequences of non-compliance with this policy.
Whilst the risk to CABI of contravening the legislation is low, it is extremely important that all employees are familiar with their legal responsibilities: serious criminal sanctions may be imposed for breaches of the legislation.
This policy sets out how any concerns should be raised.
Money laundering policy
The bribery act applies to all CABI staff worldwide and to any associated persons providing services to CABI eg. agents, collaborations and contractors.
To ensure all CABI employees and associated persons are aware of the requirements of the UK bribery act 2010 and in accordance with CABI's bribery policy. All acts of bribery are strictly prohibited and breached of the policy are considered a disciplinary matter for staff and a breach of contract for associated persons. Acts of bribery may result in criminal conviction under the bribery act.
Bribery is one aspect of fraud and as such this policy should be seen in the context of the policies, procedures and standards of behaviour defined in the CABI anti-fraud policy.