Money laundering refers to the process of disguising the financial proceeds of a crime to make them
appear as legitimate income. Criminals frequently target financial service providers, attempting to
launder illegal funds without detection. To combat money laundering and counter terrorist financing (CTF),
many countries have enacted Anti-Money Laundering (AML) and CTF legislation, imposing obligations on financial
service providers.
To adhere to the relevant Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) regulations,
Dexbiq has established systems and controls that align with the standards of regulated sectors, akin to banking.
This strategic approach underscores our commitment to preventing money laundering and terrorist financing.
Our AML policies, procedures, and internal controls are meticulously crafted to guarantee compliance with all
pertinent regulations and rules. They are subject to regular review and updates to accommodate changes in regulations
as well as the evolution of our business.
Dexbiq's Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) framework encompass the implementation of a
risk-based approach to Customer Due Diligence, including robust customer identification, verification, and Know Your Customer (KYC)
procedures. To adhere to these standards, our customers are obligated to furnish specific personal details and documents when
establishing an Dexbiq Account. In situations involving higher risks, such as transactions involving substantial volumes or
Politically Exposed Persons (PEPs), Dexbiq may conduct enhanced due diligence procedures. We have established protocols for reporting
any suspicious activity internally and to the relevant law enforcement authorities when necessary. Additionally, we maintain comprehensive
KYC records for the prescribed minimum periods. To ensure adherence to these practices, we provide training and raise awareness among
all pertinent employees. We have designed sophisticated systems and controls that enable Dexbiq to comply with all mandatory sanction
screening processes mandated by regulatory authorities. These measures are in place to prevent transactions with individuals,
companies, and countries listed on these sanctions lists.
At Dexbiq, there exists an autonomous Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) Compliance function
overseen by a designated Compliance Officer. This officer is responsible for the execution and management of AML/CTF protocols.
Regular updates on all significant matters related to AML/CTF compliance are provided to the management and board of directors by
the Compliance Officer
Dexbiq conducts a comprehensive assessment of the risks associated with money laundering and terrorism financing
linked to its distinct business, services, and clientele. This assessment involves conducting regular business-wide
Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) risk evaluations. The purpose of these assessments
is twofold: first, to evaluate the risks stemming from the nature and intricacy of the company's operations, and second,
to appraise the risks arising from engaging in business relationships or specific transactions. These assessments are
carried out on an ongoing basis to ensure continual vigilance
Dexbiq diligently identifies and evaluates potential money laundering and terrorism financing risks associated with new products,
business practices, and service delivery channels. This includes assessing the impact of new technologies on both new and existing
products, as well as considering the implications of new Anti-Money Laundering (AML) regulations on current and upcoming services.
This proactive approach ensures that Dexbiq remains vigilant and adaptable in addressing emerging risks
Dexbiq is committed to the prompt and precise submission of all Anti-Money Laundering/Combating the Financing of
Terrorism (AML/CFT) returns outlined in the applicable Regulations/Act/Guidelines/Circulars issued by government authorities.
We maintain rigorous due diligence practices to identify and report suspicious transactions, encompassing activities designed
to evade reporting obligations, forged identification, inconsistent information, transactions linked to criminal conduct,
and involvement with entities associated with individuals or organizations deemed as terrorist threats.