1. Introduction
Ruby Fortune is committed to preventing money laundering and combating the financing of terrorism in compliance with applicable laws and regulations in New Zealand and internationally. This AML Policy outlines the measures and procedures we follow to detect, prevent, and report money laundering and suspicious activities.
2. Purpose of the AML Policy
The purpose of this policy is to:
- Prevent the use of Ruby Fortune’s services for money laundering and terrorist financing.
- Establish procedures for identifying and verifying the identity of our customers (Know Your Customer – KYC).
- Outline the responsibilities of employees in detecting and reporting suspicious activities.
- Ensure compliance with relevant legislation and best practices.
3. Customer Identification and Verification (KYC)
To comply with AML regulations, we follow strict KYC procedures, including:
- Verification of Identity: Collecting valid identification documents (e.g., passport, driver’s license, utility bills).
- Proof of Address: Ensuring that the customer provides a recent utility bill or bank statement as proof of address.
- Enhanced Due Diligence (EDD): Conducting additional verification for high-risk customers or transactions.
4. Monitoring Transactions
We continuously monitor customer transactions to identify suspicious activities, including but not limited to:
- Unusually large transactions or sudden changes in transaction patterns.
- Multiple small transactions from the same account.
- Transactions from high-risk countries or regions.
- Discrepancies between the customer’s profile and transaction history.
5. Reporting Suspicious Activities
If any suspicious activity is identified, it will be reported to the appropriate authorities as required by law. Employees are required to immediately report any suspicious transactions to the designated AML Compliance Officer.
6. Record Keeping
We maintain detailed records of:
- Customer identification and verification documents.
- Transaction histories and risk assessments.
- Reports of suspicious activities and actions taken.
Records are kept for a minimum period as required by applicable laws and regulations.
7. Training and Awareness
All employees are trained regularly on AML policies and procedures to ensure awareness and compliance with legal requirements. Training includes:
- Understanding money laundering risks and detection methods.
- Recognizing red flags and suspicious activities.
- Proper reporting and documentation protocols.
8. Responsibilities
The AML Compliance Officer is responsible for implementing and overseeing this policy, ensuring that staff are adequately trained, and maintaining records and reports.
9. Non-Compliance and Disciplinary Actions
Failure to comply with AML regulations and internal policies may result in disciplinary action, including termination of employment.
10. Contact Us
For questions regarding this AML Policy, please contact us at:
- Email: [email protected]
- Address: 145 Quay Street, Auckland Central, Auckland 1010, New Zealand
Ruby Fortune is dedicated to maintaining the highest standards of integrity and transparency in all of our operations. Thank you for your cooperation.
