AML POLICY

 

Goldmill Markets Anti-Money Laundering (AML) Policy

• Introduction

Goldmill Markets is committed to preventing money laundering and terrorist financing activities. This AML policy outlines our procedures and measures for detecting and preventing money laundering and terrorist financing activities, as required by regulatory authorities.

• Risk Assessment

We conduct a risk assessment of all clients and transactions to identify potential risks of money laundering and terrorist financing. The risk assessment considers factors such as the client’s country of residence, occupation, source of funds, and transaction patterns.

• Know Your Customer (KYC)

We follow a strict KYC policy to ensure that we have accurate and up-to-date information about our clients. This includes verifying the client’s identity, address, and source of funds. We may also conduct enhanced due diligence for high-risk clients or transactions.

• Monitoring and Reporting

We monitor all transactions and activities for suspicious or unusual behavior. This includes monitoring for transactions that are inconsistent with the client’s profile, transactions involving high-risk countries or individuals, and transactions involving large amounts of funds. We report any suspicious or unusual activity to the relevant authorities as required by law.

• Record Keeping

We maintain records of all transactions and client information in accordance with regulatory requirements. Records are kept for a minimum of five years from the date of the transaction.

• Training and Awareness

We provide regular training to all employees on AML policies and procedures. We also raise awareness among clients about the risks of money laundering and terrorist financing and the importance of reporting any suspicious or unusual activity.

• Cooperation with Authorities

We cooperate fully with regulatory authorities and law enforcement agencies in their efforts to combat money laundering and terrorist financing. This includes providing information and assistance as required by law.

• Penalties for Non-Compliance

We take non-compliance with our AML policy very seriously and may take disciplinary action against employees or terminate business relationships with clients who fail to comply with our AML policies and procedures. Non-compliance with AML regulations can result in severe penalties, including fines, imprisonment, and reputational damage.

• Conclusion

Goldmill Markets is committed to preventing money laundering and terrorist financing activities. We continuously review and update our AML policies and procedures to ensure that we remain compliant with regulatory requirements and industry best practices.