MAGENTA is an authorized delegate of Shaka Express Corp, and have License of states (GA, IL, KY, MD, MN, NC, NJ, NY, OH, PA, RI, TN, TX, WI)
Anti-Money Laundering (AML) Policy for Magenta.
The purpose of this Anti-Money Laundering (AML) Policy is to outline the measures and procedures implemented by Magenta to prevent and detect activities related to money laundering and the financing of terrorism.
a. Magenta is committed to complying with all applicable Anti-Money Laundering laws and regulations.
b. Our AML policies are designed to meet the standards set forth by regulatory authorities.
a. Prior to establishing a business relationship or conducting transactions, we perform customer due diligence to verify the identity of our customers.
b. Enhanced due diligence measures are implemented for high-risk customers and transactions.
a. We collect and verify customer information in accordance with KYC procedures.
b. Customers are required to provide valid identification and supporting documentation.
a. We monitor transactions for unusual or suspicious activity.
b. Any suspicious transactions or activities will be reported promptly to the appropriate authorities in compliance with relevant regulations.
a. Magenta maintains records of customer identification and transaction data for the prescribed period.
b. These records are made available to regulatory authorities upon request.
a. Staff members are provided with regular training on AML policies and procedures.
b. Employees are encouraged to report any concerns or suspicions regarding potential money laundering activities.
a. Magenta conducts periodic risk assessments to identify and mitigate potential AML risks.
b. The AML risk assessment is reviewed and updated regularly to address changing circumstances.
a. Magenta cooperates with law enforcement and regulatory authorities in AML investigations.
b. We assist authorities in the prosecution of individuals involved in money laundering or related activities.
a. This AML Policy is communicated to all employees, and regular reviews are conducted to ensure its effectiveness and relevance.
b. Any updates or changes to the AML Policy are communicated to relevant stakeholders.
Employees and stakeholders are encouraged to report any potential violations of this AML Policy to the designated compliance officer.
For questions or concerns related to our AML Policy, please contact info@magentafs.com
Thank you for your cooperation in maintaining a secure and compliant financial environment.
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