Anti-Money Laundering: Company Principles
Introduction
Chesnara plc and its business units (the ‘Company’) are committed to operating an effective anti-money laundering (including terrorist financing) framework across its operations. We believe that the proper identification and combating of money laundering practices is key to delivering our products and services to customers. Each of our business units utilise respective policies and procedures which adhere to relevant jurisdictional laws and regulations. We commit to prohibiting money laundering at all levels, actively work to reduce our exposure to this risk, and have a clear stance against anti-money laundering (‘AML’) breaches.
Company Principles
To ensure that we meet our commitments relating to anti-money laundering activities, we have created a number of principles which are applicable across the Company. In accordance with these Company Principles, Chesnara plc and each of its business units:
- Have an anti-money laundering policy signed off by the appropriate board, which clearly defines how customer due diligence requirements will be met and the process to be followed to report suspicions of money laundering activities.
- Have designated persons with clear responsibility and accountability for money laundering controls.
- Ensure that a clear audit trail is maintained of all due diligence, suspicions raised, and investigations completed in respect of all policyholders.
- Ensure that any outsourced activities have suitable AML controls and monitoring. Third party engagement is subject to due diligence and a structured approval process. Due diligence encompasses evaluation of necessity, retention, relevant expertise, integrity and the method of payment to ensure that all relationships are lawful and transparent. Oversight of third parties includes comprehensive risk assessments, periodic screenings and health checks to identify any indicators of financial crime risk.
- Ensure that all staff, including part time and contractors, are appropriately and regularly trained to meet their AML obligations.
- Maintain a secure and confidential process for employees and others to report suspicions or concerns related to financial crime, without fear of retaliation.
- Monitor, at least annually, all AML controls.
- Carry out, at least annually, a risk assessment to identify the key AML risks and whether any internal or external changes have affected those risks.
- Report to the relevant board the results of the risk assessment and monitoring activities and the effectiveness of relevant controls.
- Where required, cooperate fully with relevant enforcement agencies.
These Company Principles are supported by our broader Fraud Risk Policy which sets out the group’s approach to fraud prevention, detection, and response, in line with regulatory expectations and industry best practice. This includes carrying out regular assessments to identify and evaluate fraud risks, whether arising from business partners, transactions, geographies, or sectors as well as monitoring the effectiveness of our fraud controls.
Governance and Board responsibilities
The Chesnara plc Board is responsible for approving and overseeing the operation of the Group Financial Crime Policy, which sets Company Principles on identifying and combating money laundering practices. Through its review and approval of the Financial Crime Policy, the Board review and approve the Anti-Money Laundering Principles that apply across the Company on an annual basis.
Business Unit Boards oversee local policies and procedures designed in accordance with the Company Principles and relevant laws and regulations within the respective jurisdiction.
This Anti-Money Laundering Statement was last reviewed in March 2026 and reflects the Company Principles last approved by the Chesnara plc Board in August 2025.
