AML/CFT POLICY
Anti-Money Laundering/Counter Financing Of Terrorism (AML/CFT) Policy
My Bullion Trade complies with the Government and Bank Negara Malaysia’s continuous initiatives and efforts in the prevention of the use of the Designated Non-Financial, Businesses and Professions (DNFBPs) system for illicit, laundering and terrorism financing activities.
MY Bullion Trade demonstrates its full commitment and support to high standards of compliance with the Anti-Money Laundering/Counter Financing of Terrorism (AML/CFT) requirements by establishing a Know Your Customer (KYC) policy, procedures and processes for the prevention and detection of money laundering and terrorist financing activities.
MY Bullion Trade AML/CFT programme adopting a risk-based approach is subject to periodic reviews to ensure that it remains robust and complies with the requirements of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLATFA 2001), regulatory guidelines, the Financial Action Task Force (FATF) Recommendations as well as other applicable
International best practices.
Key measures undertaken in MY Bullion Trade include having in place the following:
- Customer Due Diligence measures which emphasise the importance of ascertaining customer’s identity and establishing the ultimate economic beneficiary via documentary mechanisms;
- Filtering system to scrutinise customers’ transactions for reporting of suspicious activities to the Financial Intelligence and Enforcement Department (FIED), Bank Negara Malaysia on timely basis;
- Provision of full and timely disclosure of suspicious transactions/circumstances to the relevant authorities as provided under all applicable laws/respective jurisdictions; and
- Record keeping of all identification/transaction details obtained for the purpose of customer identification as well as of all documents in accordance with statutory requirements for a period of no less than 7 years.
MY Bullion Trade fully co-operates with the enforcement agencies and competent authority in the investigation of money laundering and/or financial crime.
Signed by AML/CFT Compliance Officer:
MOHD ZAIFUDDIN ARIF BIN ZAINAL ABIDIN
Date: 1 January 2024
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