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Anti-Money Laundering (AML) Policy

 

Effective Date: 01/07/2024

 

1. Introduction

Energizing Lives is committed to preventing money laundering and terrorist financing. We comply with all applicable anti-money laundering (AML) laws and regulations and have implemented a comprehensive AML compliance program.

2. AML Compliance Program

Our AML compliance program includes the following key components:

  • Policies and Procedures: Establishing and maintaining policies and procedures designed to detect and prevent money laundering and terrorist financing.
  • Risk Assessment: Conducting regular risk assessments to identify and mitigate potential AML risks associated with our business activities.

3. Customer Due Diligence (CDD)

We conduct customer due diligence to verify the identity of our clients and assess potential risks. Our CDD measures include:

  • Identification Verification: Verifying the identity of our customers using reliable, independent sources of information.
  • Ongoing Monitoring: Continuously monitoring customer transactions to detect and report suspicious activities.

4. Reporting Suspicious Activity

We are obligated to report any suspicious activities to the relevant authorities. Our reporting procedures include:

  • Internal Reporting: Employees are required to report any suspicious activities to our AML Compliance Officer.
  • External Reporting: Our AML Compliance Officer is responsible for filing suspicious activity reports (SARs) with the appropriate regulatory authorities.

5. Record Keeping

We maintain records of all transactions and customer information as required by law. Our record-keeping procedures include:

  • Retention Period: Keeping records for a minimum period as specified by applicable laws and regulations.
  • Secure Storage: Ensuring that all records are stored securely to protect against unauthorized access and tampering.

6. Training

Our employees receive regular training on AML policies and procedures. Our training program includes:

  • Initial Training: Providing new employees with AML training as part of their onboarding process.
  • Ongoing Training: Offering regular refresher training to ensure employees stay informed about the latest AML developments and best practices.

7. Independent Audit

Our AML compliance program is subject to regular independent audits to ensure its effectiveness. The audits include:

  • Program Review: Evaluating the adequacy and effectiveness of our AML policies and procedures.
  • Compliance Testing: Testing our compliance with applicable AML laws and regulations.

8. Review and Update

We regularly review and update our AML policy to ensure it remains effective and compliant with applicable laws and regulations. This includes:

  • Policy Review: Reviewing our AML policy annually and updating it as necessary.
  • Regulatory Updates: Monitoring changes in AML laws and regulations and incorporating any necessary updates into our policy.

9. Contact Information

If you have any questions about our AML Policy, please contact us at: