In keeping with the requirements of Section 67 of the Co-operative societies Act 2010, the Antigua & Barbuda Co-operative League provides Anti Money Laundering & Combating of Financing of Terrorism Services to all Credit Unions. The services include:
Support to Boards and Management Teams of the various credit unions by maintaining an effective compliance programme and monitoring regularly to ensure that the required Anti Money laundering policies and procedures are formulated, Implemented and adhered to by staff.
Conducting regular reviews of each credit union to assess the risks, reporting and making recommendations for action where appropriate.
Updating and advising senior management and the Supervisory Committee on changes to the Anti-Money laundering Act and other legal and regulatory developments.
Ensuring compliance with all Anti- Money Laundering rules and regulations.
Conducting quarterly compliance meetings with management teams and Supervisory Committees
Providing training in Anti-Money laundering compliance regulations, policies and procedures. For Volunteers Management and Staff.
Formulating, implementing and amending Anti-money laundering policies and procedures with the necessary approval, and disseminating such information to the credit unions and members as required.
Antigua and Barbuda Co-Operative Societies Act http://www.laws.gov.ag/statutaryI/2010/Statutory_Instruments_No_1_2010.pdf
Tel (268) 462-9117
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