Bitterz LLC (herein after refered to as Bitterz), as a provider of investment services related to financial products, issues this Anti-Money Laundering Policy (hereinafter referred to as AML) regarding the provision of investment services related to financial products.
Since financial companies are subject to the laws of AML and other regulations, Bitterz expresses the importance and willingness to comply with the legal requirements of money laundering (ML) and achieves its objectives. In fulfilling these rules and requirements, Bitterz will focus on the following:
- Pay attention to all information such as identity verification based on information provided by the applicant such as each client or partner, its background, related activities, business etc.
- We continuously monitor our clients, partners and transactions and activities to ensure they are in line with our AML and contracts regarding our customers.
- Create and keep records of accounts, transactions, communication with customers and partners, information gathering, internal issues and specific procedures.
- Assess the likelihood of ML and the client's risk rate while processing a transaction with the client.
- Apply enhanced due diligence when dealing with suspicious persons, trustees, politically exposed persons, customers in a bad reputation jurisdiction, and large deposits above threshold limits.
- Provide external training quarterly and annually for employees, especially those who deal directly with customers and partners.
- Cooperate with the responsible Money Laundering Compliance Officer (MLCO) with regulatory approval.
- Monitor changes to relevant laws, sanctions lists, international financial regulators, and adopt new measures as needed.
- Prohibits the provision of anonymous accounts, also, maintain cooperation with Shellbank.
- Report relevant suspicious transactions to competent authorities if MLCO deems suspicious.
In addition, if Bitterz is operated in any way within a jurisdiction where the AML rules require some additional measures, Bitterz shall meet all additional requirements and ensure that the related matters are dealt with accordingly.
Bitterz' purpose in adopting a strict AML policy is to prevent its clients, partners, employees and the financial industry from being misused by ML, terrorist financing and other financial crimes.
Bitterz is fully aware of the harmful effects or dangers to the global community, with the possibility that fraudulent persons or criminals may impersonate, relocate, acquire, or otherwise legalize the criminal origin of the property and, in any way, the ownership of the property.
The important things to follow and comply with Bitterz's AML policy are:
- When Bitterz registers a new account, the applicant develops the application required to enter data and upload documents, maintain the transactions executed by each client, all data, documents and records related to the transactions.
- If you want to register a new account, you need to submit detailed personal information such as name, nationality, date of birth, ID number, etc. During this process (even before the account is opened), all of this data requires the applicant's identification. In some cases, applicants may need to complete additional investment surveys that may inquire about their employment and income details and their experience in investing services.
- All communications between Bitterz and its clients or partners regarding the financial services Bitterz provides are recorded, regardless of their content.
It is obligatory for the submitted ID to be current at the client's discretion before the current one expires.If it expires, we may not be able to accept the withdrawal until you submit the latest one.
If suspicious activity, transaction or high risk is identified, the client account and activity will be investigated and, if deemed necessary, reported to the relevant authorities.
That is all. This content will be updated from time to time.
May 1, 2020