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FMDQ Exchange Adopts New Measures to Prevent Money Laundering and Terrorist Financing
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In a bid to strengthen its anti-money laundering (AML) and combating the financing of terrorism (CFT) regime, the FMDQ Exchange has introduced new measures aimed at preventing transactions that are structured to avoid reporting and record-keeping requirements.
Enhancing Integrity of Capital Market
The new measures will ensure timely and accurate rendition of all AML/CFT returns as specified in the SEC regulations and other relevant laws and guidelines. This move is seen as a major step forward in enhancing the integrity of the capital market and preventing illegal activities such as money laundering and terrorist financing.
New Policies and Procedures
Evaluating Business Relationships
The FMDQ Exchange has introduced new policies and procedures to ensure that business relationships with family members or close associates of politically exposed persons (PEPs) are thoroughly evaluated for potential risks. The exchange will also conduct regular reviews and assessments of its AML/CFT policy and procedures to ensure compliance with the latest regulatory requirements.
Commitment to Compliance
Zero-Tolerance Policy
“We take the prevention of money laundering and terrorist financing very seriously at FMDQ Exchange,” said a senior official at the exchange. “Our new measures are designed to prevent transactions that are structured to avoid reporting and record-keeping requirements, and to ensure that our business operations are conducted in a manner that is consistent with the highest ethical standards.”
Compliance Framework
Training and Awareness
The exchange has established a robust compliance framework that includes regular training for staff on AML/CFT awareness, detection methods, and reporting requirements. The Compliance Officer at FMDQ Exchange is responsible for ensuring that all employees comply with the provisions of the Code of Ethics and general ethical standards in the discharge of their duties.
Board Approval
Reviewing Policies and Procedures
The Board of Directors at FMDQ Exchange is also responsible for approving and reviewing all AML/CFT policies and procedures to ensure that they are consistent with the latest regulatory requirements.
Related Stories
- FMDQ Exchange Introduces New Measures to Prevent Money Laundering and Terrorist Financing
- SEC Regulates Capital Market Operators on Anti-Money Laundering and Combating the Financing of Terrorism
- FMDQ Exchange Committed to Enhancing Integrity of Capital Market
Contact Us
For more information, please contact:
[Name] FMDQ Exchange [Email] [Phone]