Effective Date: 09/02/2022
Zenyth Global Traders (“we”, “us”, “our”) is committed to maintaining the highest standards of compliance with Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations. These policies are designed to prevent money laundering, fraud, and other illegal activities while ensuring the integrity of our services. By using our services, you agree to comply with these policies.
1. Purpose
The purpose of our AML/KYC policies is to:
- Prevent the use of our services for illegal activities, including money laundering and terrorism financing.
- Verify the identity of our clients to ensure compliance with regulatory requirements.
- Maintain accurate and up-to-date records of our clients’ identities and transactions.
2. KYC (Know Your Customer) Procedures
To comply with KYC regulations, we require all clients to provide certain information and documentation to verify their identity. This process includes:
- Identification Documents: Clients must provide a valid government-issued ID, such as a passport, driver’s license, or national ID card.
- Proof of Address: Clients must provide proof of their residential address, such as a utility bill, bank statement, or official government document.
- Additional Verification: Depending on the nature of the transactions and the level of risk, we may request additional information or documentation to verify the client’s identity and source of funds.
3. AML (Anti-Money Laundering) Compliance
In line with AML regulations, we implement the following measures:
- Transaction Monitoring: We monitor transactions for unusual or suspicious activity that may indicate money laundering or other illegal activities. Transactions that raise concerns may be subject to further investigation.
- Suspicious Activity Reporting: If we detect suspicious activity, we are required to report it to the relevant authorities in accordance with applicable laws and regulations.
- Record Keeping: We maintain comprehensive records of client identities, transactions, and any AML/KYC-related activities for a period required by law.
4. Risk-Based Approach
We adopt a risk-based approach to AML/KYC compliance, meaning that the level of due diligence applied is proportionate to the risk associated with the client or transaction. Higher-risk clients or transactions may require enhanced due diligence and additional verification measures.
5. Client Responsibilities
As a client of Zenyth Global Traders, you are responsible for:
- Providing accurate and up-to-date information and documentation during the KYC process.
- Informing us of any changes to your personal information or circumstances that may affect your KYC status.
- Complying with all applicable laws and regulations related to anti-money laundering and financial transactions.
6. Confidentiality
We treat all client information collected for AML/KYC purposes as confidential and use it solely for the purposes of verifying identity and complying with legal requirements. Your information will not be shared with third parties except as required by law or with your consent.
7. Compliance and Training
Our staff undergo regular training to ensure they are aware of and comply with AML/KYC regulations. We continuously review and update our policies and procedures to remain compliant with evolving regulatory requirements.
8. Policy Updates
Zenyth Global Traders reserves the right to update this AML/KYC Policy at any time to reflect changes in regulatory requirements or our internal practices. Any updates will be posted on our website, and the “Effective Date” at the top of this page will be updated accordingly.
