Halite Global is committed to meet regulatory demands and adhere to AML/CTF Policy to current legislation requirements. Halite Global may have additional policies and procedures designed to comply with legislation, regulations and any other policies.
‘MONEY LAUNDERING’ MEANS:
The conversion or transfer of property derived from criminal activity or property obtained instead of such property, knowing that such property is derived from criminal activity or from an act of participation in such activity, for the purpose of concealing or disguising the illicit origin of the property or of assisting any person who is involved in the commission of such an activity to evade the legal consequences of that person’s actions;
The acquisition, possession or use of property derived from criminal activity or property obtained instead of such property, knowing, at the time of receipt, that such property was derived from criminal activity or from an act of participation therein;
The concealment or disguise of the true nature, source, location, disposition, movement, rights with respect to, or ownership of, property derived from criminal activity or property obtained instead of such property, knowing that such property is derived from criminal activity or from an act of participation in such an activity. ‘Terrorist financing’ means the financing and supporting of an act of terrorism and commissioning thereof within the meaning of Cap. 615 of the Penal Code of Cyprus.
Halite Global is obliged to report to the Financial Intelligence Unit in the event of suspicion of money laundering or terrorist financing.
Halite Global is committed to identify and assess any money laundering or terrorist financing risks as well as to mitigate these risks to an acceptable level. As part of the risk assessment, we monitor and review the operations of customers.
Halite Global takes steps to identify our customers and check whether they are who they say they are.
Halite Global is prohibited from transacting with individuals, companies, and countries that are on prescribed Sanctions lists. Halite Global will, therefore, screen against the United Nations, European Union, UK Treasury and US Office of Foreign Assets Control (OFAC) sanctions lists in all jurisdictions in which we operate.
Halite Global will retain documents related to the identification information which serve the basis for identification and verifications of persons, and the documents serving as the basis for the establishment of a business relationship as well as certain other documents and information as per AML laws and regulations no less than five years after termination of the business relationship.