BETAL TRADE Limited is committed to comply with all relevant AML and funding of terrorism regulations including but not limited to the 4th anti money laundering directive which has been fully transposed into Maltese regulations via the legal notice 372 of 2017-the Prevention of Money Laundering and Funding of Terrorism Regulations and guidelines and reports issued by the FATF.
BETAL TRADE Belize believes that compliance with Anti money laundering regulations is essential for the integrity of financial systems.
The company expects all its management and employees to comply with this policy.
The following criteria are the pillars of BETAL TRADE Belize’s anti money laundering policy which are essential to ensure compliance with regulations and to protect our customers
Know your customer Policy
BETAL TRADE Belize asks clients a number of questions during the application stage in order to understand customers and ensure that the applicant is not a victim of financial crime. Documentation is collected from clients in order to verify the information provided at the application stage. Such documents may be verified electronically during the application process.
Periodically, BETAL TRADE Belize also requests customers provide updates to the personal information which has been provided at the application stage to ensure that the data and information about its customers is up to date.
BETAL TRADE Belize identifies and verifies the ultimate beneficial owner that is the person that is the persons who own and control the company or on whose behalf the transaction is carried out.
BETAL TRADE Belize has a number of internal controls including but not limited to the non-acceptance of cash and the non-acceptance of third party deposits and redemptions. BETAL TRADE Belize does not accept clients from Iran and North Korea as these have been identified by the FATF as non-cooperative jurisdictions. BETAL TRADE Belize does not accept any anonymous accounts and does not maintain any relationships with shell banks.
Training of employees
BETAL TRADE Belize conducts extensive due diligence on its employees before recruitment. In addition, BETAL TRADE Belize employees are provided with regular training in order to be aware of possible patterns and techniques in money laundering and to detect possible suspicious activity.
Reporting Suspicious Activity
In line with the relevant regulations any suspicious activity of money laundering and funding of terrorism is reported to the relevant authorities.
Information provided by our customers is retained for a period of five years and protected using the latest technology.
Regular audits and reviews
Regular Audits are carried out by reputable audit firms in order to ensure that the policies and procedures are being complied with. The BETAL TRADE Belize policies and procedures are regularly reviewed to ascertain that these reflect the current regulations and external environment.
Should you have any questions or queries regarding the contents of this policy please do not hesitate to contact us at firstname.lastname@example.org