Anti Money Laundering (“AML”) and Counter Terrorist Financing (“CTF”) Policy

Money laundering is the process of concealing the origins of illegally obtained money so that it appears to be legitimate income. Criminals often target financial services firms in attempts to launder proceeds of crime without arousing suspicion or alerting the firm.

In response to the scale and effect of money laundering, Switzerland has enacted legislation to prevent money laundering and combat terrorism. This legislation, together with regulations, rules and industry guidance, forms the cornerstone of AML/CTF obligations for Swiss firms and outline the offences and penalties for failing to comply.

FINTRUST AG (FINTRUST) is subject to Swiss AML provisions aligned with the recommendations of the Financial Action Task Force (FATF). Switzerland is a member country of the Financial Action Task Force FATF). This means in particular that FINTRUST has to identify its customers and establish the beneficial owner’s identity. The AML compliance policies approved by the Management Board include, among other things, procedures for customer identification and verifying the identity of beneficial owners. The policies also cover the collection of information regarding the customers’ business activities, relationships with Politically Exposed Persons and record retention procedures. In addition, FINTRUST provides regular AML training to relevant staff and refrains from offering banking services to any bank lacking a physical presence and proper regulation. The anti-money laundering policies are applicable to head office and branches alike and are in accordance with the Wolfsberg anti-money laundering principles.

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