AML Policy

Anti-Money Laundering (AML) Policy of Meta AI Technologies
Reference to “the Company”: For the purposes of this document, “the Company” shall refer to Meta AI Technologies LTD.

Introduction

This Anti-Money Laundering (AML) Policy is rigorously established by the Company to mitigate and prevent the risks associated with involvement in unlawful activities, notably money laundering, terrorist financing, fraud, and other financial crimes. This policy emphasizes our steadfast commitment to upholding legal and ethical standards within the financial ecosystem.

Policy Statement

The Company is fully committed to complying with all international and local legal and regulatory mandates related to anti-money laundering procedures. Our primary aim is to ensure that our services are not used as vehicles for money laundering, fraud, or any illicit financial activities. We are dedicated to implementing effective measures for the identification, prevention, and reporting of financial malpractices.

Compliance Officer

The Company has appointed a dedicated Compliance Officer who bears the critical responsibility for the overarching implementation and rigorous enforcement of the AML policy. Key responsibilities include:
  • Ensuring the Company’s compliance with all AML obligations through diligent monitoring.
  • Facilitating communication and delivering tailored AML training to employees, reflecting their specific organizational roles.
  • Developing, overseeing, and continually improving internal controls, procedures, and mechanisms to reinforce AML compliance.
  • Conducting periodic reviews of AML policies and procedures to align with evolving legal, regulatory, and best practice standards.

    • Customer Identification Program (CIP)

    In line with “Know Your Customer” (KYC) requirements, the Company will execute a robust Customer Identification Program, designed to:
    • Authenticate the identity of our customers using reliable, independent sources.
    • Carry out risk assessments and due diligence to verify the legitimacy of customer activities, aligning with provided information.
    • Implement enhanced due diligence (EDD) for higher-risk individuals, such as politically exposed persons (PEPs), to safeguard against misuse of our offerings.
    • Securely maintain and routinely update customer identification data and due diligence records.

    Reporting Obligations

    Adhering to legal requirements, the Company pledges to promptly report any suspicious activities or transactions suggestive of money laundering, terrorist financing, or other illegal conduct to the relevant authorities. This encompasses:
    • Transactions that lack a clear economic or lawful purpose.
    • Activities linked to high-risk jurisdictions or nations that do not comply with AML standards.
    • Indications of tax evasion, market manipulation, or any fraudulent behavior.

    Training and Awareness

    Recognizing the essential role of continuous training and awareness in cultivating a culture of compliance, the Company will:
    • Provide regular, role-specific AML training to all employees to ensure preparedness in identifying and handling potential money laundering or terrorist financing incidents.
    • Update training content to reflect new AML legislation, regulatory changes, and emerging financial crime methodologies.

    Record Keeping

    In accordance with legal and regulatory frameworks, the Company will keep extensive records of all customer identification details, transaction data, account files, and business communications for a legally mandated period. These records will be:
    • Stored with utmost confidentiality and safeguarded against unauthorized access.
    • Organized to ensure they can be readily accessed and inspected by authorized authorities when necessary.

    Review and Monitoring

    The AML policy and procedures of the Company will be subject to ongoing evaluation and monitoring to ensure they remain effective and comply with current legal and regulatory standards. Under the guidance of the Compliance Officer and senior management, this will involve:
    • Regular audits to assess the adequacy of the AML compliance processes.
    • Prompt correction of any detected deficiencies in AML controls.
    • Adjustments to the AML strategy in response to new risks, legislation, and regulatory advisories.
    This policy is a mandatory directive for all employees, officers, and affiliates of Meta AI Technologies LTD, symbolizing our collective dedication to maintaining the highest levels of integrity and compliance in combating money laundering and terrorist financing.