KYC/AML Policy

KYC/AML Policy

Effective Date: 01.12.2024

Offshorix is committed to maintaining compliance with the UK’s Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations to prevent financial crime and protect our clients. This policy aligns with the standards provided by the Money Laundering, Terrorist Financing, and Transfer of Funds (Information on the Payer) Regulations 2017 and FCA guidelines.

  1. Objective:
  • To detect and prevent money laundering, terrorist financing, and other financial crimes.
  • To ensure compliance with applicable UK and international regulations.
  1. Identification and Verification:
  • Individuals: Valid government-issued identification and proof of address (utility bill or bank statement issued within the last three months).
  • Corporate Entities: Certificate of incorporation, details of directors and ultimate beneficial owners (UBOs), proof of business address, and operating licenses where applicable.
  1. Risk-Based Approach:
  • Conduct client risk assessments based on geography, transaction type, and business nature.
  • Implement enhanced due diligence (EDD) measures for high-risk customers, such as politically exposed persons (PEPs).
  1. Ongoing Monitoring:
  • Regularly review client activities and transactions.
  • Detect and investigate unusual or suspicious transactions.
  • Report suspicious activities to the National Crime Agency (NCA) as per legal requirements.
  1. Record-Keeping:
  • Retain identification and transactional records for a minimum of five years post-termination of the client relationship.
  • Ensure secure and restricted access to sensitive information.
  1. Training and Awareness:
  • Conduct periodic training sessions for staff to stay updated on AML/KYC regulations.
  • Provide guidance on identifying and reporting suspicious activities.
  1. Reporting Obligations:
  • Immediate reporting of any suspicious activity or breaches of compliance to the relevant authorities.
  1. Policy Review:
  • This policy is reviewed annually or upon significant regulatory updates to maintain alignment with legal standards.

For further details or inquiries, contact compliance@offshorix.com.

Copyright © 2024 Offshorix

Offshorix™ is a trading name of London Consultancy and Business Solutions Ltd, a company registered in the United Kingdom under registration number 13260051. It is important to note that Offshorix is not a bank and does not provide banking services. Offshorix specializes in offering international bank/broker introduction services, account opening assistance, and corporate administration services.

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