Anti-Money Laundering (AML) Procedures – London Gold Centre eCommerce

London Gold Centre is dedicated to preventing money laundering and terrorist financing through robust AML procedures in compliance with the UK Money Laundering Regulations, Proceeds of Crime Act, and Terrorism Act. These procedures apply specifically to our eCommerce platform at https://shop.londongoldcentre.co.uk.

1. Customer Identification and Verification

We require customers to provide valid identification documents, including government-issued photo ID (passport, driver’s license) and proof of address (utility bill, bank statement), especially for high-value transactions.

2. Customer Due Diligence (CDD)

CDD measures include verifying the customer’s identity, assessing transaction purpose, and understanding the nature of the customer’s activities. Enhanced Due Diligence (EDD) is conducted for transactions or customers identified as higher risk.

3. Transaction Monitoring

All transactions are continuously monitored. Unusual or suspicious transaction patterns trigger further review and potential reporting.

4. Reporting Suspicious Activity

Employees are trained to recognize suspicious transactions and promptly report these internally. If required, a Suspicious Activity Report (SAR) is submitted to the National Crime Agency (NCA).

5. Record-Keeping

Comprehensive records of customer identification, transaction details, and AML checks are securely maintained for a minimum of five years from the completion of each transaction.

6. Staff Training and Awareness

All staff involved in transaction processing and customer engagement undergo regular AML training and updates to stay informed about current regulations, compliance obligations, and risk management practices.

7. Regular Audits and Policy Reviews

We perform regular internal audits and periodic external reviews of our AML procedures, ensuring ongoing effectiveness and compliance. Policies and procedures are reviewed and updated regularly to reflect regulatory changes.

8. Management Responsibility

Senior management at London Gold Centre oversees AML compliance, ensuring adherence to these procedures and supporting a culture of vigilance and regulatory compliance.

By purchasing or selling products through London Gold Centre’s eCommerce platform, customers acknowledge and agree to these AML procedures.