Anti-Money Laundering Policy Statement

How do we implement the AML policy?

Anti-Money Laundering Policy Statemen

RIFM, s.r.o. is dedicated to preventing money laundering, terrorist financing, and avoiding sanctions violations. Our commitment to compliance with both local and international laws and regulations is pivotal to preserving the integrity and trust in RIFM, s.r.o. This AML policy outlines our commitment to legal compliance and outlines the framework within which we operate to ensure the ethical conduct of our business.

 

Policy Objectives

  1. To implement clear and rigorous policies regarding money laundering and terrorist financing.
  2. To clarify the compliance obligations for all employees within RIFM, s.r.o.
  3. To guide staff in their day-to-day operations, ensuring all activities align with legal mandates.
  4. To promote a company culture that prioritizes adherence to legal standards in all employee activities.

 

Definition of Money Laundering

Money laundering involves conducting financial transactions with money generated from criminal activity to disguise its illegal origin. Key activities constituting money laundering include:

  1. Transferring or concealing the nature, location, source, or ownership of illegal funds.
  2. Acquiring, possessing, or using funds knowing they are derived from criminal activities.
  3. Assisting individuals involved in criminal acts to evade legal consequences.

Money laundering requires intentional action and cannot result from negligence. However, actions that demonstrate significant negligence—especially failing to report suspicious activities—may lead to criminal liability.

 

Laws and Regulations

RIFM, s.r.o. adheres to:

  1. EU and Slovak laws pertaining to anti-money laundering.
  2. International regulations that apply to financial operations within the EU.

 

Compliance and Monitoring

RIFM, s.r.o. maintains a comprehensive transaction monitoring system that flags unusual or suspicious activities. Transactions, particularly those that deviate from typical patterns, are subject to manual review and, if necessary, reported to the appropriate legal authorities.

 

Employee Training and Awareness

RIFM, s.r.o. commits to regular training programs for all employees, focusing on the identification and reporting of suspicious transactions, understanding of money laundering tactics, and internal policies for preventing financial crimes.

 

Transaction Monitoring and Reporting

We employ advanced software and manual oversight to monitor transactions continuously. All suspicious transactions are reported to the Slovak Financial Intelligence Unit (FIU) as per regulatory requirements.

 

Document Retention

All relevant documentation, including transaction records and compliance reports, are retained for at least five years to comply with legal requirements and facilitate any future investigations or audits.

 

Risk Management

RIFM, s.r.o. employs a risk-based approach to monitor and manage potential financial crime risks, conducting regular reviews and updates to our risk assessment processes.

 

Compliance Enforcement

Any non-compliance identified is met with stringent corrective measures, potentially including disciplinary actions up to and including dismissal, to uphold our legal and ethical standards.

 

Technological Tools

Details about the specific technological tools and software solutions employed by RIFM, s.r.o. to support AML efforts, including

  1. Transaction monitoring systems.
  2. Customer due diligence tools.
  3. Database management systems for record-keeping.

 

Cooperation with Law Enforcement

Policies and procedures for cooperating with law enforcement and regulatory bodies, detailing how RIFM, s.r.o. handles requests for information, court orders, or participates in investigations.