ANTI MONEY LAUNDERING REQUIREMENTS. The USA PATRIOT Act What is money laundering? How big is the problem and why is it important? The USA PATRIOT Act is designed to detect, deter, and punish terrorists in the United States and abroad. The Act imposes new anti-money laundering requirements on brokerage firms and financial institutions. Since April 24, 2002, all brokerage firms have been required to have new, comprehensive anti-money laundering programs. To help you understand these efforts, we want to provide you with some information about money laundering and our steps to implement the USA PATRIOT Act. Money laundering is the process of disguising illegally obtained money so that the funds appear to come from legitimate sources or activities. Money laundering occurs in connection with a wide variety of crimes, including illegal arms sales, drug trafficking, robbery, fraud, racketeering, and terrorism. The use of the U.S. financial system by criminals to facilitate terrorism or other crimes could well taint our financial markets. According to the U.S. State Department, one recent estimate puts the amount of worldwide money laundering activity at $1 trillion a year. What are we required to do to eliminate money laundering? Under new rules required by the USA PATRIOT Act, our anti-money laundering program must designate a special compliance officer, set up employee training, conduct independent audits, and establish policies and procedures to detect and report suspicious transaction and ensure compliance with the new laws. As part of our required program, we may ask you to provide various identification documents or other information. Until you provide the information or documents we need, we may not be able to effect any transactions for you.
ANTI MONEY LAUNDERING REQUIREMENTS. (a) In connection with the worldwide effort against the funding of terrorism and money laundering activities, the Custodian may be required under various national laws and regulations to which it is subject to obtain, verify and record information that identifies each person who opens an account with the Custodian. For a non-individual person such as a business entity, a charity, a Trust or other legal entity the Custodian shall be entitled to ask for documentation to verify such entity’s formation and legal existence as well as financial statements, licenses, identification and authorisation documents from individuals claiming authority to represent the entity or other relevant documentation.
ANTI MONEY LAUNDERING REQUIREMENTS. The Principal Recipient acknowledges and agrees that, pursuant to the Global Fund’s commitment to prevent money-laundering activities:
ANTI MONEY LAUNDERING REQUIREMENTS. All references to "Bank" set forth in Exhibit E are hereby deleted and replaced with "RB."
ANTI MONEY LAUNDERING REQUIREMENTS. The Customer acknowledge that the Bank is required to adhere to certain requirements (the “Anti-Money Laundering Requirements”) relating to the prevention of money laundering and terrorist financing. In complying with the Anti-Money Laundering Requirements, the Bank may need to provide information relating to the Customer’s identity and nationality (or of the beneficial owner of the investments or person acting on the Customer’s behalf) and any Investments the Customer has ordered (“Money Laundering Information”). The Customer therefore agrees to provide the Bank with such Anti-Money Laundering Information and consent to the Bank’s disclosing such information to any regulatory authority or investment/fund manager, as is required in order to comply with the Anti-Money Laundering Requirements.
ANTI MONEY LAUNDERING REQUIREMENTS. The USA PATRIOT Act is designed to detect, deter, and punish terrorists and others who engage in money laundering or disguising illegally obtained funds so that the funds appear to come from legitimate sources or activities. All brokerage firms are required to have anti-money laundering programs. As part of our program, we may require you to provide various identification documents or other information to verify your identity and/or your institution’s identity. Until you provide the information or documents we need, we may not be able to open an account or effect any transaction for you.
ANTI MONEY LAUNDERING REQUIREMENTS. 10.1. Under the Money Laundering Regulations 2007 (MLR) and the Proceeds of Crime Act 2002 (POC) all law firm employees and Partners are required to
ANTI MONEY LAUNDERING REQUIREMENTS. 4.1 You represent, warrant and undertake to us that you are now and will be at all times compliant with all the Applicable Laws concerning money laundering, bribery and corruption and financial crime prevention ("AML Laws").
ANTI MONEY LAUNDERING REQUIREMENTS. The USA PATRIOT Act is designed to detect, deter, and punish terrorists and others who engage in money laundering or disguising illegally obtained funds so that the funds appear to come from legitimate sources or activities. All brokerage firms are required to have anti-money laundering programs. As part of our program, we may require you to provide various identification documents or other information to verify your identity and/or your institution’s identity. Until you provide the information or documents we need, we may not be able to open an account or effect any transaction for you. You represent that neither you nor any other person who has an ownership interest in, or authority over, your account is or has been a Politically Exposed Person, also known as a senior foreign political figure, or an immediate family member or close associate of a senior foreign political figure, within the meaning of the U.S. Department of the Treasury’s Guidance on Enhanced Scrutiny for Transactions That May Involve the Proceeds of Foreign Official Corruption and as referenced in the USA PATRIOT Act. In addition, you represent that neither you nor any other person who has an ownership interest in, or authority over, your account is a corporation, business or other entity that is beneficially or majority owned or controlled by the senior foreign political figure. If you, any other owner of or authorized person on your account is or has been such a figure, you agree to disclose that fact to us and provide the necessary information required by law to open and/or to service your account. You also represent that your account will not be used for any transactions with, or for the benefit of, any person, entity or country that is the subject of any sanctions administered or enforced by the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC), including, but not limited to, any person, or entity designated on OFAC’s List of Specialty Designated Nationals. For the purpose of this section, a “Politically Exposed Person” is a current or former senior official in the executive, legislative, administrative, a military or judicial branch of a foreign government (whether elected or not) or a senior official of major foreign party, a senior executive of a foreign government-owned corporation or a corporation, business or other entity formed by or for the benefit of such a figure. The term “politically exposed person” includes a current or former senior foreign political f...
ANTI MONEY LAUNDERING REQUIREMENTS the Borrower shall promptly on the request of the Lender supply to the Lender any documentation or other evidence which is reasonably requested by the Lender (whether for itself or any prospective permitted assignee or transferee) to enable the Lender or prospective assignee or transferee (if the Lender (i) if so required for the assignment or transfer pursuant to Clause 16.3 (Assignment and Transfer by the Lender), has obtained the prior written consent of the Borrower or (ii) otherwise has notified the Borrower of such assignment or transfer) to carry out and be satisfied with the results of all of their respective anti-money laundering and/ or other similar requirements;
