Preventing money laundering and terrorist financing
Wealth Growth ("WG") is committed to the highest standards of Anti-Money Laundering (AML) compliance and Counter-Terrorist Financing (CTF). This policy outlines our approach to preventing money laundering and terrorist financing activities.
WG complies with all applicable AML/CTF laws and regulations in the jurisdictions where we operate. We maintain robust policies and procedures to ensure compliance with international standards including FATF recommendations.
We verify the identity of all customers before establishing a business relationship. This includes collecting and verifying: full name, date of birth, residential address, and government-issued identification documents.
All documents provided are subject to verification. We use reliable, independent source documents, data, or information to verify customer identity. Enhanced due diligence is applied for high-risk customers.
We conduct ongoing monitoring of business relationships to ensure that transactions are consistent with our knowledge of the customer, their business, and risk profile.
We maintain a risk-based approach to AML/CTF. Customers are categorized based on their risk profile, considering factors such as: geographic location, type of business or occupation, expected transaction patterns, and source of funds.
All employees are trained to identify and report suspicious activities. We have procedures in place for the internal reporting and investigation of suspicious activities. When required, we file Suspicious Activity Reports (SARs) with relevant authorities.
We maintain all customer identification records and transaction records for a minimum of five years after the business relationship has ended, or longer if required by law. Records are kept in a form that enables us to respond promptly to information requests from law enforcement.
All employees receive regular AML/CTF training appropriate to their role. Training covers: recognition of suspicious activities, internal reporting procedures, customer due diligence requirements, and relevant laws and regulations.
WG prohibits: accounts in fictitious or anonymous names, business relationships with shell banks, transactions involving countries subject to sanctions, and any activity that facilitates money laundering or terrorist financing.
We cooperate fully with law enforcement and regulatory authorities in the prevention and detection of money laundering and terrorist financing. This includes responding promptly to lawful requests for information.
This AML policy is reviewed annually and updated as necessary to reflect changes in regulations, business practices, and emerging risks. All updates are approved by senior management and communicated to all relevant staff.
If you have concerns about potential money laundering or terrorist financing activities, please contact our Compliance Officer at compliance@wealthgrowth.net. All reports are treated confidentially.
Failure to comply with this policy may result in disciplinary action for employees and termination of business relationships for customers. We reserve the right to report violations to appropriate authorities.
