Anti-Money Laundering (AML), Know Your Customer (KYC) and Anti-Terrorism Funding (ATF) Platform is used to capture and secure user identity data. The platform is integrated with Identity Mind to perform verification and risk assessment. This trusted ID with the risk assessment is then presented to the regulators for approval.

Collected information will include independent verification by a professional organization of all AML/KYC requirements as required by the BMA, including but not limited to:

  • Full name and trade name
  • Date and place of incorporation, registration or establishment
  • Person or corporation risk assessment
  • Registered office address and, if different, mailing address
  • Address of the principal place of business
  • Whether and where listed on a stock exchange
  • Official identification number (where applicable)
  • Name of regulator (where applicable)
  • Legal form, nature and purpose (e.g. discretionary, testamentary, bare)
  • Control and ownership
  • Nature of business
  • An obligation to collect information about the legal powers that regulate and bind a legal person or legal arrangement

Once the data is collected and the personal declaration has been executed, the following protocols will be implemented:

  • Client identity verification mechanisms initiated by Identity Mind
  • Client risk assessment
  • Determination whether a client is a politically exposed person (PEP)
  • Comparison of client against terrorist watch lists/sanctions lists
  • Periodic review of the policy and procedures will be conducted
  • Client declarations will be collected and stored (for corporate and individual clients)
  • Staff will be trained in the use of the software, audit procedures
  • Procedures for Suspicious Activity Reporting to the Money Laundering Reporting Officer (if applicable)
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