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TKB Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) Policy

TKB has established a comprehensive AML/CTF policy to prevent, detect, and report money laundering and terrorist financing activities. The following sections outline the key aspects of this policy.

Establishment of an AML/CTF Program

  • TKB has established an AML/CTF program that includes policies, procedures, and controls to prevent, detect, and report money laundering and terrorist financing.
  • The program is designed to ensure compliance with relevant regulations and laws.

Risk Assessment

  • TKB conducts regular risk assessments to identify potential ML/TF risks.
  • Measures are implemented to mitigate these risks and protect the organization from potential threats.

Customer Due Diligence (CDD)

  • TKB collects and verifies customer information, including identification documents.
  • Records of CDD activities are maintained for at least 6 years.

Ongoing Customer Monitoring

  • TKB monitors customers on an ongoing basis to identify suspicious activity.
  • Customer information is updated as necessary to ensure accurate records.

Suspicious Matter Reporting

  • TKB has established procedures for reporting suspicious transactions or activities to the Financial Services Unit (FSU).
  • Reports are made in a timely and efficient manner to prevent potential harm.

Training and Awareness

  • TKB provides regular training and awareness programs for employees on AML/CTF policies, procedures, and risks.
  • Employees are informed about their roles and responsibilities in preventing money laundering and terrorist financing.

Record Keeping

  • TKB maintains records of all transactions, customer information, and AML/CTF compliance activities for at least 6 years.
  • Records are accurate, complete, and easily accessible for auditing purposes.

Roles and Responsibilities

AML/CTF Compliance Officer

  • Responsible for implementing and maintaining the AML/CTF program.
  • Ensures compliance with relevant regulations and laws.

Chief Compliance Officer

  • Oversees the AML/CTF program and reports to management and the Board of Directors.
  • Provides strategic guidance on AML/CTF matters.

Conclusion

This policy demonstrates TKB’s commitment to preventing and detecting money laundering and terrorist financing activities, as well as complying with relevant regulations and laws. The establishment of an effective AML/CTF program is crucial in protecting the organization from potential threats and ensuring a safe and secure financial environment for all stakeholders.