Screening Policy for Partnerships with Tanzanian and other foreign Entities

1. Purpose:
This protocol outlines the procedures for screening potential partners and entities based in Tanzania or other countries, to ensure compliance with anti-money laundering (AML), fraud prevention, and international sanctions policies.

2. Scope:
This policy applies to all employees, contractors, and representatives of Stichting Inside The Same, involved in establishing and maintaining partnerships with Tanzanian or other foreign country entities.

3. Screening Process:
- Initial Assessment:
  - Before engaging with any Tanzanian and foreign entity, conduct an initial assessment to evaluate their legitimacy, reputation, and alignment with Stichting Inside The Same's mission and values.
 
- KYC (Know Your Customer) Verification:
  - Obtain and verify essential information such as legal name, address, registration details, ownership structure, and business activities of the foreign entity.
 
- Background Checks:
  - Conduct comprehensive background checks, including:
    - Financial stability and integrity assessment.
    - Criminal record checks on key personnel and beneficial owners.
    - Reputation checks through reliable sources.
 
- Risk Assessment:
  - Assess the potential risks associated with the partnership, including financial, reputational, and operational risks.
 
- AML and Fraud Prevention:
  - Implement AML and fraud prevention measures, including:
    - Monitoring transactions for suspicious activity.
    - Reporting any suspicions of money laundering or fraudulent behavior to relevant authorities.
    - Establishing internal controls to prevent and detect fraudulent activities.

4. Money Laundering Policy:
- Stichting Inside The Same maintains a zero-tolerance policy towards money laundering and illicit financial activities.
- All transactions with Tanzanian or other foreign entities are subject to stringent AML procedures to prevent money laundering and the financing of terrorism.
- Suspicious transactions or activities will be promptly reported to the appropriate regulatory authorities.

5. Fraud Policy:
- Stichting Inside The Same is committed to preventing and detecting fraud in all its activities.
- Any suspected fraudulent behavior, including misrepresentation of information by Tanzanian or other foreign entities, will be thoroughly investigated, and appropriate action will be taken, including termination of partnership and legal recourse if necessary.

6. Compliance with International Sanctions:
- Stichting Inside The Same complies with all relevant international sanctions imposed by the United Nations, European Union, and other applicable bodies.
- Prior to engaging with any foreign entity, a thorough check will be conducted to ensure compliance with international sanctions lists.
- Any entity found to be in violation of international sanctions will not be considered for partnership.

7. Review and Updates:
- This screening policy will be periodically reviewed and updated to reflect changes in regulations, risks, or organizational requirements.
- All employees and stakeholders will be informed of any updates to ensure compliance.

8. Communication and Training:
- All employees involved in partnership establishment and management will receive training on AML, fraud prevention, and compliance with international sanctions.
- Clear communication channels will be established to report any concerns or suspicions regarding potential partners or ongoing partnerships.

End of Protocol

This protocol provides a structured approach to screening foreign entities, ensuring alignment with Stichting Inside The Same’s values and compliance with regulatory requirements. If you have any questions or need further clarification, don't hesitate to reach out! 😊🌍🔍