Anti-Money Laundering (AML) Policy

PURE ENERGY CRYSTALS LLC - AML Policy & Cryptocurrency Info
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Anti-Money Laundering (AML) Policy
1. Purpose and Scope Ensures compliance with applicable laws to prevent money laundering and terrorist financing. Applies to employees, officers, directors, and third parties.
2. Definitions
  • Money Laundering: Disguising origins of illegal money.
  • Terrorist Financing: Providing funds to support terrorism.
  • Customer Due Diligence (CDD): Identifying and verifying customers.
  • Suspicious Activity Report (SAR): Report filed for suspicious behavior.
3. Policy Statement Commitment to robust AML practices including CDD, reporting, record-keeping, and training.
4. Customer Due Diligence (CDD) CDD is conducted when:
  • Establishing a business relationship
  • Transactions above threshold
  • Suspicion of illegal activity
  • Doubts about previous customer data
4.1 Identification and Verification
  • Verify name, address, DOB, and ID of individuals
  • Verify identity and ownership for businesses
4.2 Enhanced Due Diligence (EDD) For high-risk cases, EDD includes:
  • Gathering more customer info
  • Frequent monitoring
  • Senior management approval
5. Reporting Suspicious Activity Report suspicious behavior to the AML Compliance Officer for SAR filing.
6. Record-Keeping Maintain all CDD records and transaction data for at least 5 years.
7. Training and Awareness Ongoing employee training includes:
  • AML legal framework
  • Identifying/reporting suspicious activity
  • Company policies and procedures
8. Internal Controls & Auditing Implementation of internal controls with regular audits for compliance and improvements.
9. Responsibilities
  • Board: Oversee policy implementation
  • AML Officer: Ensure effective execution and compliance
  • Employees: Follow policy, complete training, and report activity
10. Review and Updates Policy reviewed annually or as required by law or business changes.
11. Conclusion PURE ENERGY CRYSTALS is committed to AML compliance to safeguard the financial system.
Approved by PURE ENERGY CRYSTALS LLC
Effective Date April 10, 2025