Compliance Officer
Makwell has designated a Compliance Officer responsible for overseeing the implementation and effectiveness of our AML program. The Compliance Officer serves as the point of contact for all AML-related matters and ensures ongoing compliance with relevant laws and regulations.
Customer Due Diligence (CDD)
We perform thorough customer due diligence measures to establish the identity and legitimacy of our customers. This includes obtaining and verifying identification information, such as government-issued identification documents, proof of address, and any other necessary documentation.
Know Your Customer (KYC)
We adhere to a strict Know Your Customer (KYC) policy, which involves obtaining sufficient information to understand the nature of our customers' business, their source of funds, and their intended use of our services. We may request additional documentation or conduct enhanced due diligence for higher-risk transactions or customers.
Reporting Suspicious Activities
Makwell is committed to promptly reporting any suspicious activities or transactions that may be indicative of money laundering, terrorism financing, or other unlawful acts. Our staff is trained to recognize red flags and report suspicious activities to the appropriate authorities.
Confidentiality and Data Protection
We prioritize the confidentiality and protection of customer information. We implement robust data protection measures to safeguard customer data from unauthorized access, use, or disclosure.
Compliance Review
Makwell conducts periodic reviews and audits of our AML program to assess its effectiveness, identify areas for improvement, and ensure ongoing compliance with applicable laws and regulations.
Record Keeping
We maintain accurate and up-to-date records of all customer information, transactions, and due diligence documentation in compliance with applicable laws and regulations. These records are securely stored and made available to regulatory authorities upon request.
Ongoing Monitoring
We employ ongoing monitoring procedures to detect and prevent any suspicious or potentially unlawful activities. This includes regularly reviewing customer accounts, transactions, and activities for any anomalies or deviations from expected patterns.
Employee Training and Awareness
Makwell provides comprehensive training to all employees to ensure they understand their responsibilities and obligations regarding AML compliance. Our staff is regularly updated on emerging AML trends, regulatory changes, and best practices to enhance their knowledge and awareness.
Cooperation with Authorities
We maintain a cooperative relationship with regulatory authorities and law enforcement agencies. We will provide full assistance, including sharing information and records, to the extent permitted by law, to aid in any investigations related to money laundering or terrorism financing.
Non-Tolerance Policy
Makwell has a zero-tolerance policy towards any involvement in money laundering, terrorism financing, or any other unlawful activities. We will take immediate action, including reporting suspicious activities, freezing accounts, and terminating relationships, as deemed necessary to prevent and mitigate such activities.
Review and Update
This AML Policy will be reviewed and updated periodically to reflect changes in regulatory requirements, industry best practices, and the evolving nature of money laundering and terrorism financing.