Anti Money Laundering Policy

AML – Anti Money Laundering Policy

Alpcorp Limited acknowledges and adheres to all current legislation with regards to compliance regimes (Anti Money Laundering and Countering Financing of Terrorism) which are applicable to all Financial Institutions.

Alpcorp Limited ’s compliance department is fully trained in the area of anti-Money Laundering and Countering Financing of Terrorism having the responsibility of training and monitoring all staff on a regular basis to adhere to the ongoing changes in the legislation, making sure all staff is kept up to date with all new rules and regulations.

The compliance department also monitors and applies CDD (Customer Due diligence) and EDD (Enhanced Due Diligence) to all its transactions according to the AML/CFT regulations.

For further details on our AML Policies & Procedures contact Alpcorp Limited.

Money laundering involves transforming money from crime (“dirty money”) into money that (a) has the appearance of coming from a legitimate source, and (b) makes the criminal origin of the money difficult to trace (“clean money”). Effective money laundering enables criminals to remove themselves from their criminal activities, making it harder to prosecute them, and confiscate their proceeds. Laundering money also enables criminals to enjoy the benefits of their crimes including investing their profits in future criminal activity.

At Alpcorp Limited we are committed to the prevention of such activities. All suspicious behaviour will be reported to the relevant authorities in order for action to be taken against such suspicions. Alpcorp Limited has a zero-tolerance policy in these matters and will assist the authorities in any way we can.

Alpcorp Limited is committed to implementing all regulations related to The Anti-Money Laundering and Counter-Terrorist Financing (Financial Institutions) Ordinance, Chapter 615 (AMLO).