Anti money laundering Policy

At Consumer Estates, we are committed to upholding the highest standards of Anti-Money Laundering (AML) compliance. We take our responsibility to prevent money laundering and terrorist financing very seriously and have implemented robust policies and procedures to ensure that we are in full compliance with all relevant laws and regulations.

As a customer of Consumer Estates, you can expect us to conduct thorough due diligence on all transactions and individuals involved in our business dealings. We may request additional information or documentation from you to verify your identity and the source of funds being used in any transaction.

We also reserve the right to refuse or terminate any transaction that we believe may be linked to money laundering or other illicit activities. We are committed to working closely with law enforcement agencies and regulatory authorities to report any suspicious activities and assist in investigations as needed.

Examples of the checks that Consumer Estates may perform to ensure AML compliance include:

1. Customer Due Diligence (CDD): We will verify the identity of our customers by requesting official identification documents such as passports, driver's licenses, or government-issued IDs. We may also ask for proof of address, such as utility bills or bank statements.

2. Enhanced Due Diligence (EDD): For high-risk transactions or customers, we may conduct additional checks and gather more detailed information about the source of funds, business activities, and beneficial ownership of entities involved in the transaction.

3. Transaction Monitoring: We use sophisticated software systems to monitor transactions for any unusual or suspicious patterns that may indicate money laundering or terrorist financing. Any flagged transactions will be investigated further.

4. Politically Exposed Persons (PEP) Screening: We screen all customers against international databases to identify any individuals who hold prominent public positions and may pose a higher risk of corruption or illicit financial activities.

5. Ongoing Monitoring: We continuously monitor our customer relationships and transactions to ensure that they remain consistent with our understanding of the customer's risk profile and expected behaviour. Any significant changes may trigger additional due diligence checks.

These are just a few examples of the checks and processes that we may perform to maintain AML compliance. 

Our goal is to create a safe and secure environment for our customers while upholding the highest standards of integrity and regulatory compliance.