AML Procedures Sample Clauses
The AML Procedures clause establishes the requirement for parties to implement and adhere to anti-money laundering (AML) protocols within their business relationship. Typically, this involves verifying the identities of clients, monitoring transactions for suspicious activity, and maintaining records in compliance with relevant laws and regulations. The core function of this clause is to ensure that both parties take necessary steps to prevent money laundering and related financial crimes, thereby reducing legal and reputational risks.
AML Procedures. [1]
4.1 Consistent with the services provided by the Transfer Agent and with respect to the ownership of Shares in the Fund for which the Transfer Agent maintains the applicable Shareholder information, the Transfer Agent shall:
(a) On a daily basis, submit all new customer account registrations and registration changes against the database of sanctioned persons administered by the Office of Foreign Assets Control (“OFAC”), the Politically Exposed Persons (“PEP”) database maintained by an external vendor, and such other lists or databases as may be required from time to time by applicable regulatory authorities;
(b) Submit all account registrations through OFAC database, the PEP database, and such other lists or databases as may be required from time to time by applicable regulatory authorities;
(c) On a daily basis, submit special payee information from outgoing wires and systematic withdrawal files through the OFAC database;
(d) Review certain types of redemption transactions that occur within thirty-four (34) days of an account establishment, registration change, or banking information change (e.g. redemption by wire within 34 days of banking information change; rapid depletion of account balance after establishment; and redemption by check within 34 days of address change);
(e) Review wires sent pursuant to banking instructions other than those on file with the Transfer Agent;
(f) Review accounts with small balances followed by large purchases;
(g) Review accounts with frequent activity within a specified date range followed by a large redemption;
(h) Review purchase and redemption activity by check that meets or exceeds $100,000 threshold on any given day;
(i) Determine when a suspicious activity report (“SAR”) should be filed as required by regulations applicable to the Fund; prepare and file the SAR; provide the Fund with a copy of the SAR within a reasonable time after filing; and notify the Fund if any further communication is received from the U.S. Department of the Treasury or other law enforcement agencies regarding such filing;
(j) Compare account information to any Financial Crimes Enforcement Network (“FinCEN”) request received by the Fund and provided to the Transfer Agent pursuant to Applicable AML Law, including USA PATRIOT Act Sec. 314(a). Provide the Fund with the necessary information for it to respond to such requests within required time frame;
(i) Take reasonable steps to verify the identity of any person seeking to become a new cus...
AML Procedures. No person shall abuse the Website for the purpose of money laundering and/or terrorist financing. The Company employs stringent anti-money laundering (AML) and terrorist financing procedures. The Company reserves the right to refuse to do business with, to discontinue to do business with, and to reverse the transactions of, Clients who do not accept or conform to the following AML requirements and policies: Private Investors must provide all requested information upon registration. When a Client maintains an account by means of bank deposits, profits will only be distributed to the holder of the originating bank account. When making deposits in this manner, it is the responsibility of the trader to ensure that the trader’s account number and registered name of the account owner accompany all transfers to the Company. When a Client funds an account by means of credit/debit card deposits, profits will only be distributed to the individual whose name appears on the card used to make the deposit and only be paid back to the same card. No profits may be collected on accounts opened where evidence suggests the Client may have used false names. The Company may, from time to time, in its sole discretion, require a Client to provide additional proof of identity such as notarized copy of passport or other means of identity verification as it deems required under the circumstances and may at its sole discretion suspend an account until such proof has been provided to its satisfaction.
AML Procedures. 37.1. No person shall abuse this website for the purpose of money laundering. BDSwiss employs best- practice anti-money laundering (AML) procedures. BDSwiss reserves the right to refuse to do business with, to discontinue to do business with, and to reverse the transactions of, customers who do not accept or conform to the following AML requirements and policies:
37.2. Clients must provide all requested information upon registration.
37.3. Winnings will only be paid to the individual who initially registered to open a live account.
37.4. When a customer maintains an account by means of telegraphic deposits, winnings will only be distributed to the holder of the originating bank account. When making deposits in this manner, it is the responsibility of the live trader to ensure that the trader’s account number and registered name of the account owner accompany all transfers to BDSwiss.
37.5. When a customer funds an account by means of credit/debit card deposits, profits will only be distributed to the individual whose name appears on the card used to make the deposit and only be paid back to the same card.
37.6. Only one account is allowed per person.
37.7. No winnings may be collected on accounts opened in false names or on multiple accounts opened by the same person.
37.8. BDSwiss Holding PLC may, from time to time, at its sole discretion, require a customer to provide additional proof of identity such as notarized copy of passport or other means of identity verification as it deems required under the circumstances and may at its sole discretion suspend an account until such proof has been provided to its satisfaction.
AML Procedures. Prohibited Uses: It is prohibited to abuse this Site for purposes of money laundering. FTG Markets employs best practice anti-money laundering. FTG Markets reserves the right to refuse and to terminate any business relationship, and to cancel any operation of customers who do not comply with the requirements of anti-money laundering: Online traders should provide all information required for registration. The earnings will be paid to the person who first registered for an account online. When a customer maintains an account through wire transfers, the gains will be distributed to the sole owner of the originating bank account. When you make deposits in this way, it is the responsibility of the live trader to ensure that the trader’s account number and the registered name of the account owner accompany every transfer to FTG Markets. When a fund is made using a credit card or debit card, the winnings will be distributed solely to the person whose name appears on the card used to make the deposit and will not be reimbursed on the same card. Only one account is allowed per person. No gains can be levied on accounts opened under false names or multiple accounts opened by the same person. FTG Markets may, from time to time at its sole discretion, require from a customer to provide additional proof of identity such as notarized copy of passport or other means of identity verification as deemed necessary circumstances and may, at its sole discretion, suspend an account until the required proof is provided.
AML Procedures. Prohibited Uses: It is prohibited to abuse this Site for purposes of money laundering. ▇▇▇▇▇▇▇▇▇.▇▇ employs best practice anti-money laundering. ▇▇▇▇▇▇▇▇▇.▇▇ reserves the right to refuse and to terminate any business relationship, and to cancel any operation of customers who do not comply with the requirements of anti-money laundering: Online traders should provide all information required for registration. The earnings will be paid to the person who first registered for an account online. When a customer maintains an account through wire transfers, the gains will be distributed to the sole owner of the originating bank account. When you make deposits in this way, it is the responsibility of the live trader to ensure that the trader’s account number and the registered name of the account owner accompany every transfer to ▇▇▇▇▇▇▇▇▇.▇▇. When a fund is made using a credit card or debit card, the winnings will be distributed solely to the person whose name appears on the card used to make the deposit and will not be reimbursed on the same card. Only one account is allowed per person. No gains can be levied on accounts opened under false names or multiple accounts opened by the same person.
AML Procedures. 4.1 Consistent with the services provided by the Transfer Agent and with respect to the ownership of Shares in the Fund for which the Transfer Agent maintains the applicable Shareholder information, the Transfer Agent shall:
(a) On a daily basis, submit all new customer account registrations and registration changes against the Office of Foreign Assets Control (“OFAC”) database, the Politically Exposed Persons (“PEP”) database, and such other lists or databases as may be required from time to time by applicable regulatory authorities;
(b) Submit all account registrations through OFAC database, the PEP database, and such other lists or databases as may be required from time to time by applicable regulatory authorities;
(c) On a daily basis, submit special payee information from checks, outgoing wires and systematic withdrawal files through the OFAC database;
(d) Review certain types of redemption transactions that occur within thirty (30) days of an account establishment, registration change, or banking information change (e.g. redemption by wire within 30 days of banking information change; rapid depletion of account balance after establishment; and redemption by check within 30 days of address change);
(e) Review wires sent pursuant to banking instructions other than those on file with the Transfer Agent;
(f) Review accounts with small balances followed by large purchases;
(g) Review accounts with frequent activity within a specified date range followed by a large redemption;
AML Procedures. Under certain legislation in relation to anti-money laundering and dealings in the proceeds of crime we may be obliged to confidentially submit reports to and request consents to proceed from the relevant authorities. Where we in our reasonable discretion consider such obligations to apply we shall not be liable to you for any consequences of such reporting or of any delay in proceeding in any manner whatsoever and you acknowledge that we may do so, without responsibility or liability, without informing you of the same.
AML Procedures. 19.1. No person shall abuse this website for the purpose of money laundering. The Company employs best practice anti-money laundering (“AML”) procedures. The Company reserves
19.2. The Client must provide all requested information upon registration.
19.3. No winnings may be collected on accounts opened in false names or on multiple accounts opened by the same person.
19.4. The Company may, from time to time, at its sole discretion, require a customer to provide additional proof of identity such as notarized copy of passport or other means of identity verification as it deems required under the circumstances and may at its sole discretion suspend an account until sich proof has been provided to its satisfaction.
19.5. You confirm and undertake that you are not engaging us and will not use the Services in connection with any forbidden activity. We draw your attention to our obligation to report suspicions of money laundering activity to our Money Laundering Reporting Officer and or to the relevant external authorities. We may have to stop working on a matter and may not be in a position to inform you if we make such a report. We will not be liable to you for the consequences of any such report made in good faith.
19.6. We may be required by law and/or regulations to report to a governmental or regulatory authority our knowledge and/or suspicion that certain criminal offences have been committed, regardless of whether such an offence has been committed by a client of ours or by a third party. We may not be able to discuss such reports with you because of restrictions imposed by those laws and regulations, and we may have to cease acting for you in those circumstances. You agree that we are not responsible for any adverse consequences you may suffer as a result of our compliance with such laws and regulations.
AML Procedures. ▇▇.▇. ▇▇ person shall abuse this website for the purpose of money laundering. The Company employs best practice anti-money laundering (“AML”) procedures. The Company reserves the right to refuse to do business with, or to discontinue to do business with, and to reverse the transactions of, customers who do not accept or confirm to the Company’s AML requirements and policies.
19.2. The Client must provide all requested information upon registration.
19.3. No winnings may be collected on accounts opened in false names or on multiple accounts opened by the same person.
19.4. The Company may, from time to time, at its sole discretion, require a customer to provide additional proof of identity such as notarized copy of passport or other means of identity verification as it deems required under the circumstances and may at its sole discretion suspend an account until sich proof has been provided to its satisfaction.
AML Procedures. 19.1. No person shall abuse this website for the purpose of money laundering. The Company employs best practice anti-money laundering (“AML”) procedures. The Company reserves the right to refuse to do business with, or to discontinue to do business with, and to reverse the transactions of, customers who do not accept or confirm to the Company’s AML requirements and policies.
19.2. The Client must provide all requested information upon registration.
19.3. No winnings may be collected on accounts opened in false names or on multiple accounts opened by the same person.
19.4. The Company may, from time to time, at its sole discretion, require a customer to provide additional proof of identity such as notarized copy of passport or other means of identity verification as it deems required under the circumstances and may at its sole discretion suspend an account until such proof has been provided to its satisfaction.
19.5. You confirm and undertake that you are not engaging us and will not use the Services in connection with any forbidden activity. We draw your attention to our obligation to report suspicions of money laundering activity to our Money Laundering Reporting Officer and or to the relevant external authorities. We may have to stop working on a matter and may not be in a position to inform you if we make such a report. We will not be liable to you for the consequences of any such report made in good faith.
19.6. We may be required by law and/or regulations to report to a governmental or regulatory authority our knowledge and/or suspicion