Preventing Money Laundering

Enforcing Transparency in Financial Transactions

Ensuring transparency and preventing money laundering and other illegal activities in connection with our services.

At Crediterium, we are committed to preventing money laundering and other illicit activities. This policy outlines our procedures for complying with anti-money laundering (AML) laws and regulations.

Customer Due Diligence

We perform customer due diligence on all new clients to ensure they are not involved in illegal activities such as money laundering, terrorism financing, or other financial crimes. Our customer due diligence procedures include collecting and verifying client identification information, understanding the nature of the client’s business or transactions, and conducting ongoing monitoring of the client’s transactions.

Suspicious Activity Monitoring and Reporting

We monitor all client transactions for suspicious activity that may indicate money laundering or other illegal activities. Our staff are trained to identify red flags and report any suspicious activity to the appropriate authorities as required by law.

Record Keeping

We maintain comprehensive records of all client transactions, customer due diligence, and suspicious activity reports for a minimum of five years. These records are kept in a secure location and are accessible only by authorized personnel.

Training and Awareness

We provide regular training to our staff on AML laws and regulations, customer due diligence procedures, and identifying and reporting suspicious activity. We also promote AML awareness among our clients and educate them on their obligations to prevent money laundering.

Compliance Monitoring

We regularly review and update our AML policy to ensure it remains current and effective. We also conduct internal and external audits to ensure compliance with AML laws and regulations.

Penalties for Non-Compliance

Failure to comply with AML laws and regulations can result in severe penalties, including fines, imprisonment, and reputational damage. Crediterium takes its obligations under AML laws and regulations seriously and will take appropriate action to ensure compliance.

Back to Legal