The British Council creates international opportunities for the people of the UK and other countries and builds trust between them worldwide. We are committed to conducting business in accordance with the highest ethical and legal standards. The public, participants and customers have the right to expect that professional, competent and trustworthy people are employed by the British Council wherever we operate.
Through our adoption of a zero tolerance policy to fraud, bribery and corruption, we have an obligation to prevent our organisation and staff from being exposed to the risks of money laundering.
The Money Laundering Regulations 2007 cover the requirements for organisations to put in place preventative measures. The Proceeds of Crime Act 2002 and the Terrorism Act 2006 cover the criminal offences that individuals or organisations will be subject to and the obligation to report suspicions.
Money laundering is the process by which an individual or organisation converts cash and assets gained through criminal activity into a form that can be used legitimately and openly without drawing attention of the authorities. It can also include any matters connected with funds being used, or provided for, or generated by any terrorism related purpose, even where no other crime may have taken place.
The policy applies to all operations of the British Council worldwide unless local legal requirements are more rigorous; or if applying this policy would be illegal under local laws or would create serious cultural and social threats to the British Council’s operations or its staff.
The British Council is committed to:
- maintaining a risk approach to its systems, procedures and internal controls to prevent and detect money laundering
- ensuring all employees, agency staff, contractors and external consultants working for the British Council report any knowledge or suspicions of money laundering
- reviewing continuously our systems, procedures and internal controls through risk management processes and audit arrangements.
We will provide adequate and appropriate resources to implement this policy and will ensure it is communicated and understood.
The British Council will review this policy annually to reflect new legal and regulatory developments and to ensure best practice.
The status of this document is British Council policy. It was approved by Martin Davidson, Chief Executive, on 1 November 2011 and is due for review on 1 November 2012.