Anti-money laundering (AML) is the body of law and controls that prevents funds from being used to launder criminal proceeds or finance terrorism. For an investment fund it means KYC, beneficial-ownership identification, sanctions and PEP screening, transaction monitoring, record-keeping and suspicious-activity reporting.
Fund domiciles require every fund to appoint an AML compliance officer and a money-laundering reporting officer, and to have written procedures. The administrator usually performs the day-to-day work, and the fund's directors are responsible for oversight.
Allocators verify that a fund's AML programme is real: who runs it, what systems are used and whether the administrator is regulated for it.
POD's AML programme is run through its regulated administration entity, covering investor and manager verification, ongoing screening and record-keeping. Detail is on the Trust & Compliance page.
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