Anti-Money Laundering and Counter Financing of Terrorism Policy
The Gatsby Malta Limited (hereinafter “the Company") strongly acknowledges the importance to prevent money laundering and countering the financing of terrorism, corruption, and bribery(together “money laundering”) and shall establish the internal management system.
The Company is aware that statutory and regulatory obligations to prevent money laundering are to be met in full and are to be applied as the minimum standard. The Company will do its utmost in order to minimise the risk of the Company’s offering being abused for the purposes of laundering funds associated with criminal activity.
The management of the Company recognizes that the Company is required to comply with the necessary anti-money laundering and counter financing of terrorism (AML and CFT) obligations. As a result, the Company established the KYC and AML policy which details the obligations arising from the following laws, regulations and any ancillary documents:
・the Prevention of Money Laundering Act, Chapter 373 of the Laws of Malta (PMLA);
・the Prevention of Money Laundering and Funding of Terrorism Regulation, Subsidiary Legislation 373.01 of the laws of Malta (PMLFTR);
・the Criminal Code, Chapter 9 of the laws of Malta; and
・Implementing Procedures issued by FIAU(Financial Intelligence Analysis Unit)
The Company’s documents shall be based on the regulatory framework and guidance issued by the MFSA and/or the FIAU and/or Sanctions Monitoring Board (SMB), as the case may be, and are in line with the relevant laws of Malta which may be amended from time to time.
1. Organizational structure
(1) The Company is positioning the counter-measures for the money laundering as the top management issue and shall actively be involved.
(2) The Company shall appoint the personnel in charge for preventing money laundering and establish a centralized management system and take cross-sectoral measures by cooperating with the related department.
2. Risk-Based Approach
The Company shall identify and assess the risk for money laundering based on a risk-based approach and take counter-measures according to the risk.
3. Customer Due Diligence
The Company shall prepare internal system to implement appropriate measures for customer identification according to the law. And, the Company shall investigate and analyze the customer transaction record periodically and shall take measures for customer identification.
4. Suspicious Transaction Reporting
The Company shall promptly file a STR after determining whether such activity warranted STR filing which was reported by the branches or detected through transaction monitoring.
5. Training
The Company shall provide ongoing appropriate training to all directors and employees for knowledge acquisition of money laundering to maintain and enhance the expertise and appropriateness.
6. Policy Review and Audits
The Company shall conduct internal audit periodically for anti-money laundering measures to further improve the internal system by taking the outcome of the audit findings into consideration.
7. Restricted Areas
The Company does not provide services to natural persons and legal entities with permanent residency or incorporation in "Restricted Areas" .
The specific "Restricted Areas" are as follows.
Afghanistan, Central African Republic, Cuba, Democratic Republic of the Congo, Eritrea, Iran, Iraq, Libya, North and South Korea, Somalia, South Sudan, Sudan, Yemen, Zambia, Myanmar, Albania, Barbados, Burkina Faso, Cambodia, The Cayman Islands, Gibraltar, Haiti, Jamaica, Jordan, Mali, Morocco, Mozambique, Panama, Philippines, Senegal, Syria, Turkey, Uganda, UAE and Yemen, including, but is not limited to.
8. Measures against AML and CFT
AML and CFT measures shall be applicable to all prospective holders. Each prospective holder shall be subject to a customer risk assessment which will take into account various risk factors including customer risk, countries or geographical areas, products, services, transactions and delivery channels. Subsequently, customers shall be subjected to customer due diligence (CDD) measures. The purpose of such measures is to identify and verify the identity of the customer and/or ultimate beneficial owners of legal persons and legal arrangements on the following occasions:
・when establishing a business relationship;
・when carrying out occasional transaction;
・when the Company has knowledge or suspicion of proceeds of criminal activity, money laundering or the funding of terrorism; and
・when doubts arise about the veracity or adequacy of the previously obtained customer identification information.
9. Customer due diligence measures
Customer due diligence measures shall also be applied, at appropriate times, to existing customers on a risk-sensitive basis, including at times when the Company becomes aware that the relevant circumstances surrounding a business relationship have changed.
The Company shall apply enhanced due diligence in line with the identified risk.
The following scenarios shall always warrant enhanced measures:
・customers and/or ultimate beneficial owners who have been entrusted with prominent public function, a family member or a close associate of same;
・activities or services that are determined to be of a high-risk;
・customers and/or ultimate beneficial owners linked to high-risk or non-reputable jurisdictions; and
・any other scenario which shall be deemed as high-risk.