imove maintains a firm commitment to adequate and appropriate Anti-Money Laundering policies. We take every measure to ensure that all available safeguards are implemented to prevent any violation of the AML and CTF Ordinances.
Objectives:
1. Protect our customers by taking all reasonable steps to process the transactions in a legal and compliant to the Laws and Regulations.
2. Avoid any financial losses which may result from criminal or illegal activities, or regulator sanctions or penalties which might result from unwitting involvement in Money Laundering, Terrorism Financing.
3. Protect our reputation of company by proceed Customer Due Diligence(CDD) in all business functions to understand our customer’s background for avoid any Money Laundering and Terrorism Financing, and all those persons that are involved in criminal activities, including terrorism and proliferation
4. Protect our company’s assets, our management team, and the employees from being used for transactions related to Money Laundering, Terrorism Financial, and Proliferation.
Declarations:
1. Take enhanced risk-based customer due diligence (CDD) and know your customer (KYC) / know your business (KYB) procedures, including enhanced due diligence to manage customers with a higher risk profile such as Politically Exposed Persons (PEPs), and applying less stringent measures to those representing a lower risk.
2. Appoint a Compliance Officer (CO) supervising the focal points of all activities.
3. Appoint a Money Laundering Reporting Officer (MLRO) / Contact Person in charge of reporting conceivably suspicious transactions or activities.
4. Provides Continuous training of all relevant staff and members in order to ensure everybody is fully updated on the AMLO, and appropriate measures to enable frontline staff to discern whether a transaction may be suspicious.
5. Adopt a risk-based approach to adopt appropriate controls and oversight and accordingly to determine the extent of due diligence to be performed and the level of ongoing monitoring to be applied.
6. Safekeeping of all documents obtained in the process of ascertaining the identity of the customer and in connection with the transactions. These shall be kept throughout the business relationship with the customer and for a period of six years after its termination.
7. Keep the policies and procedures under regular review for the assessment of the effectiveness of our law-abiding procedures. imove reserves the right not conduct any business with a party suspected of, or directly involved in, any wrongdoings, like, for instance, money laundering or where funds have been obtained by way of illegal activities.