1. Purpose of This Policy
This AML Compliance Policy outlines how Quik Accountants and Bookkeepers (“we,” “our,” or “the Firm”) prevents, detects, and reports money laundering, terrorist financing, and other financial crimes. As a provider of bookkeeping and tax services worldwide, we are committed to operating with integrity, meeting global AML standards, and protecting our clients and partners.

2. Scope of Application
This policy applies to:

• All employees, contractors, and representatives of the Firm.

• All clients (individuals, companies, and organizations) using our services across the UK, USA, Canada, Europe, and other regions.

• All services we provide, including bookkeeping, tax compliance, financial reporting, and related advisory services.

3. Key AML Principles

• Know Your Customer (KYC): Verify client identity and ownership structures.

• Risk-Based Approach: Assess client and transaction risks based on geography, industry, and behavior.

• Record-Keeping: Maintain AML records for at least five years after a client relationship ends.

• Suspicious Activity Reporting (SAR): Report any suspicious transactions to the relevant authority.

• Employee Training: Ensure all staff understand AML obligations and processes.

4. Client Due Diligence (CDD)
Before providing services, we will:

• Obtain and verify official identity documents.

• Collect proof of address.

• For companies: Verify registration, ownership, and directors/shareholders.

• Assess whether the client or beneficial owner is a Politically Exposed Person (PEP) or linked to high-risk jurisdictions.

• Conduct enhanced due diligence for higher-risk clients or industries.

5. Ongoing Monitoring

• Regularly review client transactions and records for unusual or suspicious activity.

• Ensure all transactions are consistent with the client’s profile and business activities.

• Update CDD information periodically or when material changes occur.

6. Suspicious Activity Reporting (SAR)

• The Money Laundering Reporting Officer (MLRO) will file SARs with the appropriate authority.

• We will not notify clients if a report is made, as prohibited by law.

• Examples of suspicious activity: unexplained large cash deposits, complex ownership structures, inconsistent financial behavior.

7. Roles and Responsibilities

• MLRO: Receives, investigates, and escalates SARs.

• Employees and Contractors: Must follow this policy, perform CDD checks, and report concerns.

• Senior Management: Ensures resources, training, and systems meet AML obligations.

8. Record Keeping

• Maintain records for at least five years after a client relationship ends.

• Ensure records are secure, retrievable, and GDPR/CCPA compliant.

9. Staff Training & Awareness

• Provide initial and periodic AML training.

• Cover recognizing suspicious activity, documentation, and escalation.

• Record attendance and completion of training.

10. Use of Technology & Third Parties

• Use secure accounting platforms (QuikBooks, Xero, etc.) with encryption.

• Ensure third-party providers meet AML and confidentiality standards.

11. Non-Compliance & Disciplinary Action

• Breaches may result in disciplinary action, termination, or reporting to authorities.

• Non-compliance may lead to legal penalties for both the Firm and individuals.

12. Review & Updates

• This policy will be reviewed annually or when regulations change.

• Updates will be communicated to employees and stakeholders.

13. Contact Information
If you have questions about this policy:

📧 Email: saim@quikaccountants.com
🌐 Website: Quik Accountants