INVESTX is fully informed of the laws and regulations governing its correspondents abroad and deals with them in compliance with such laws and regulations. INVESTX is committed to abide by the laws, regulations, procedures, sanctions and restrictions adopted by international legal organizations and/or by the sovereign authorities in the correspondents’ home countries, including but not limited to, bills passed by the U.S. congress.
INVESTX does not deal with or facilitate transactions or provide financial services to entities designated as terrorist or criminal organizations by local authorities, international organizations and sovereign authorities in countries where it maintains correspondent accounts.
Furthermore, INVESTX does not deal with or facilitate transactions or provide financial services to a person if it has any suspicion that this person is acting on behalf of, or is owned or controlled by such designated entities and refrains from facilitating transactions or providing financial services if it suspects that such transactions or financial services are linked to such designated entities or any criminal and/or terrorist activity.
INVESTX has made it a priority to combat money laundering and terrorist financing within the platform. INVESTX prides itself of being able to identify and understand risks of money laundering and terrorist financing in order to apply preventive measures through its Anti-Money Laundering (AML) and Counter Terrorist Financing (CTF) policies and procedures, which are in line with the Financial Action Task Force on money laundering (FATF) and international standards.
In light of our changing environment, INVESTX continually evaluates the strength and relevance of its existing policies, procedures and employee training programs and, if necessary, updates them to address these changes.
Below is a summary of what INVESTX – AML and CTF policies and procedures include:
- INVESTX has a legal and regulatory compliance program that includes a designated officer that is responsible for coordinating and overseeing the AML framework.
- Proper Know-Your-Customer (KYC) practices are central, and the knowledge of the customer provides a basis for understanding the general activities in which a customer usually would be expected to engage.
- INVESTX developed written policies documenting the processes in place to prevent, detect and report suspicious transactions.
- In addition to inspections by the government supervisors/regulators, INVESTX internal audit and external auditors assess AML policies and practices on a regular basis.
- INVESTX has a policy prohibiting accounts/relationships with shell banks.
- INVESTX has policies covering relationships with Politically Exposed Persons (PEP), their family and close associates.
- INVESTX has a risk-based assessment of its customer base and their transactions.
All customers are screened against the Special Investigation Commission (SIC) list, and international lists on World-Check One (Thomson Reuters):
- Sanctions List (including but not limited to Service d’Information et de Contrôle sur les Circuits Financiers; European Union; HM Treasury (formally Bank of England); Office of Foreign Assets Control (OFAC), United States; United Nations Security Council Committee; US Department of State..)
- Law Enforcement Lists (including but not limited to City of London Police UK; Federal Investigation Agency; Federal Bureau of Investigation (FBI) United States; Interpol; National Crime Squad UK; Serious Organized Crime Agency; US Air Force Office of Special Investigations; US Drug Enforcement Administration; US Secret Service; Combined Forces Special Enforcement Unit-British Columbia (CFSEU-BC), Canada…)
- Regulatory Enforcement Lists (Asia/Pacific enforcement bodies; European enforcement bodies; North American enforcement bodies; Latin American / Caribbean enforcement bodies; UK enforcement bodies)
- Other Bodies (Companies House – Disqualified Directors; World Bank – Debarred Parties; Lloyd’s Register – Fairplay)
- High Profile Persons Data and Dow Jones Database for high-ranking government officials and PEP.