AML/CFT Policy

Anti-Money Laundering (AML) and 

Combating the Financing of Terrorism (CFT) Policy

Effective Date: October 5, 2023

Introduction

Pursaa Financial Services Ltd (hereafter referred to as "Pursaa") acknowledges its responsibility to uphold the highest standards of ethical conduct and to comply with all relevant laws and regulations related to Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT). This policy outlines Pursaa's commitment to implementing robust AML/CFT procedures to prevent its services from being used for money laundering or terrorist financing.

Risk Assessment

Pursaa recognizes the dynamic nature of financial services and will conduct a comprehensive risk assessment of its business operations and customer base. This risk assessment will encompass an in-depth analysis of transaction types, geographical locations, and customer profiles. The assessment will be conducted regularly and updated as necessary to ensure it reflects the evolving landscape of AML/CFT risks.

Customer Due Diligence (CDD)

Pursaa will establish and maintain a rigorous Customer Due Diligence (CDD) program aimed at identifying and verifying the identities of its customers. This process will entail collecting and verifying essential customer information, including but not limited to names, addresses, dates of birth, and government-issued identification documents. Furthermore, Pursaa will implement ongoing monitoring of customer transactions to promptly detect and report any suspicious activities.

Transaction Monitoring

Pursaa is committed to implementing an advanced transaction monitoring system to detect and prevent potentially suspicious activities. This system will involve continuous surveillance of transactions for unusual patterns or amounts, with specific attention given to transactions involving high-risk countries or individuals. Pursaa will also establish and enforce robust systems and controls to mitigate the risk of its services being used for terrorist financing.

Employee Training

Pursaa places great importance on the training and development of its employees with regards to AML/CFT regulations and procedures. Regular training sessions will cover various aspects, including the identification and reporting of suspicious activities, customer due diligence processes, and transaction monitoring. Additionally, all employees will be required to certify their understanding of Pursaa's AML/CFT policies and procedures annually.

Reporting and Record-Keeping

Pursaa will maintain comprehensive records related to customer identification, transaction monitoring, and suspicious activity reports. These records will be retained in accordance with local laws and regulations. Pursaa is also fully committed to promptly reporting any suspicious activity to the relevant authorities, as mandated by applicable laws.

Pursaa is unwavering in its commitment to upholding the highest standards of AML/CFT compliance. We will continually review and update our policies and procedures to ensure that we remain in strict adherence to our legal and ethical obligations. Through these measures, we aim to prevent the misuse of our services for unlawful purposes and uphold the trust of our valued customers and the broader community.

By implementing these measures, we are confident that we can prevent our services from being used for illicit purposes and maintain the trust of our customers and the wider community.