AML & KYC Policy

“Anti-Money Laundering” and “Know Your Customer” policy (AML & KYC)

This Anti-Money Laundering (AML) and Know Your Customer (KYC) Policy (hereinafter the “AML & KYC Policy”) is designated to prevent and mitigate possible risks of Intrinite Limited (hereinafter “We”) being involved in any kind of illegal activity. We intend to implement effective internal procedures and mechanisms to prevent money laundering, terrorist financing, drug and human trafficking, the proliferation of weapons of mass destruction, corruption and bribery and to take action in case of any form of suspicious activity from our Users.

AML & KYC Policy covers the following matters:

  1. Verification procedures;
  2. Monitoring Transactions; and
  3. Risk Assessment.

1. Verification procedures

One of the international standards for preventing illegal activity is customer due diligence (“CDD”). We establish its own verification procedures within the standards of AML and KYC frameworks:

Identity verification

Our identity verification procedure requires users to provide us with accurate documents, data or information (e.g., national ID, international passport, bank statement, utilities bill). For such purposes, We reserve the right to collect users’ identification information for our AML & KYC Policy.

We will take steps to affirm the authenticity of documents and information provided by the Users. All legal methods for double-checking identification information will be used provided that We reserve right to investigate certain users who have been determined to be risky or suspicious.

User’s identification information will be collected, stored, shared, and protected strictly in accordance with our privacy policy and applicable regulations. After the User’s identity has been verified, We are able to remove itself from potential legal liability in a situation where Our Services are used to conduct illegal activities.

2. Monitoring Transactions

The Users are known not only by verifying their identity but, more importantly, by analyzing their transactional patterns (what they do). Therefore, We rely on data analysis as a risk assessment and suspicion detection tool. We perform a variety of compliance-related tasks, including capturing data, filtering, record-keeping, investigation management, and reporting.

3. Risk Assessment

We, in line with the international requirements, have adopted a risk-based approach to money laundering and financing of terrorism. By adopting a risk-based approach, We are able to ensure that measures to prevent or mitigate money laundering and terrorist financing are commensurate to the identified risks. This will allow resources to be allocated in the most efficient ways. The principle is that resources should be directed in accordance with priorities so that the greatest risks receive the highest attention.

With regard to the AML & KYC Policy, We will monitor all transactions and reserves the right to:

(a)     Ensure that transactions of suspicious nature are reported to the proper law enforcement;

(b)     Request the User to provide any additional information and documents in case of suspicious transactions;

(c)     Suspend or terminate User’s Account when We have reasonable suspicion that such User engaged in illegal activity.

The above list is not exhaustive and We will monitor Users’ transactions on a daily basis in order to define whether such transactions are to be reported and treated as suspicious or are to be treated as bona fide.

The risks of loss from investing in CFDs can be substantial and the value of your investments may fluctuate. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how this product works, and whether you can afford to take the high risk of losing your money.

Intrinite is a trading name of Intrinite Limited with registration number 25829 BC 2020. Intrinite Limited is a Business Company in Saint Vincent and the Grenadines. Registered address is: Suite 305, Griffith Corporate Centre, Beachmont Kingstown, St.Vincent and the Grenadines. The information on this site is not directed at residents of the United States and is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

 Intrinite Limited is part of the Intrinite Group and its ultimate parent company is Intrinite Pte. Ltd.

Intrinite Pte. Ltd. is a  holding company in Singapore with registration number 202003932H. Registered address is: 68 Circular Road, #02-01, 049422, Singapore.

 

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