AML/KYC Procedures Sample Clauses
The AML/KYC Procedures clause requires parties to comply with anti-money laundering (AML) and know-your-customer (KYC) regulations by verifying the identities of clients and monitoring transactions for suspicious activity. In practice, this means collecting identification documents, conducting background checks, and maintaining records to ensure that all parties are legitimate and not involved in illicit activities. The core function of this clause is to prevent financial crimes and ensure regulatory compliance, thereby protecting both parties from legal and reputational risks.
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AML/KYC Procedures. “AML/KYC Procedures” means the customer due diligence (CDD) procedures of a Reporting Financial Institution pursuant to the anti-money laundering or similar requirements of the jurisdiction concerned to which such Reporting Financial Institution is subject.
AML/KYC Procedures. “AML/KYC Procedures” means the customer due diligence (CDD) procedures of a Reporting Cayman Islands Financial Institution pursuant to the anti-money laundering or similar requirements of the Cayman Islands to which such Reporting Cayman Islands Financial Institution is subject to.
AML/KYC Procedures. “AML/KYC Procedures” means the customer due diligence procedures of a Reporting Singaporean Financial Institution pursuant to the anti-money laundering or similar requirements of Singapore to which such Reporting Singaporean Financial Institution is subject.
AML/KYC Procedures. “AML/KYC Procedures” means the customer due diligence procedures of a Reporting Finnish Financial Institution pursuant to the anti-money laundering or similar requirements of Finland to which such Reporting Finnish Financial Institution is subject.
AML/KYC Procedures. “AML/KYC Procedures” means the customer due diligence procedures of a Reporting Belgian Financial Institution pursuant to the anti-money laundering or similar requirements of Belgium to which such Reporting Belgian Financial Institution is subject.
AML/KYC Procedures. “AML/KYC Procedures” means the customer due diligence procedures of a Reporting Irish Financial Institution pursuant to the anti-money laundering or similar requirements of Ireland to which such Reporting Irish Financial Institution is subject.
AML/KYC Procedures. “AML/KYC Procedures” means the customer due diligence procedures of a Reporting British Virgin Islands Financial Institution pursuant to the anti-money laundering or similar requirements of the British Virgin Islands to which such Reporting British Virgin Islands Financial Institution is subject.
AML/KYC Procedures. “AML/KYC Procedures” means the customer due diligence procedures of a Reporting United Arab Emirates Financial Institution pursuant to the anti-money laundering or similar requirements of the United Arab Emirates to which such Reporting United Arab Emirates Financial Institution is subject.
AML/KYC Procedures. “AML/KYC Procedures” means the customer due diligence procedures of a Reporting Swiss Financial Institution pursuant to the anti-money laundering or similar requirements of Switzerland to which such Reporting Swiss Financial Institution is subject.
AML/KYC Procedures. “AML/KYC Procedures” means the customer due diligence procedures of a Reporting Costa Rican Financial Institution pursuant to the anti-money laundering or similar requirements of Costa Rica to which such Reporting Costa Rican Financial Institution is subject.