Overview
The Quadency AML/KYC/CFT Policy is designed to prevent money laundering, including the need to have adequate systems and controls in place to mitigate the risk of the firm being used to facilitate financial crime.
Details
This AML Policy sets out the minimum standards which must be complied with and includes:
The appointment of a Money Laundering Reporting Officer (MLRO) who has sufficient level of seniority and independence and who has responsibility for oversight of compliance with relevant legislation, regulations, rules, and industry guidance;
Establishing and maintaining a Risk Based Approach (RBA) towards assessing and managing the money laundering and terrorist financing risks to the company;
Establishing and maintaining risk-based customer due diligence, identification, verification, and know your customer (KYC) procedures, including enhanced due diligence for those customers presenting higher risk, such as Politically Exposed Persons (PEPs);
Establishing and maintaining risk-based systems and procedures to monitor ongoing customer activity;
Procedures for reporting suspicious activity internally and to the relevant law enforcement authorities as appropriate;
The maintenance of appropriate records for the minimum prescribed periods;
Training and awareness for all relevant employees
Counter Financing of Terrorism (CFT)
The Company takes a risk-based approach when adopting and implementing counter-financing of terrorism (CFT) measures and in conducting AML risk assessments.
The company adopted internal CFT controls and make undefended decisions regarding CFT matters supersedes any business, strategic, or other operating tasks.
International Sanctions Policy (ISP)
Our company is prohibited from transacting with individuals, companies, and countries that are on prescribed sanctions lists.
Know Your Customer Procedures (KYC)
Individuals can be identified by passport or other identification document and utility bills stating their current postal address. Companies have to be identified by extracts from the Chamber of Commerce or by notary deed. Copies have to be made and archived in files securely. More details about how to complete KYC here.