1. Introduction
GCC Brokers Limited ("the Company") is committed to preventing money laundering, terrorist financing, and other financial crimes. This policy outlines our obligations and procedures under applicable anti-money laundering legislation and the rules of the Financial Services Commission (FSC) of Mauritius.
2. Customer Due Diligence
All clients are required to complete identity verification before account activation. This includes:
- Proof of Identity — A valid government-issued photo ID (passport, national ID card, or driver's license).
- Proof of Address — A recent utility bill, bank statement, or government-issued document showing the client's residential address (dated within the last 3 months).
- Source of Funds — Where applicable, documentation demonstrating the source of deposited funds.
3. Enhanced Due Diligence
Enhanced due diligence measures are applied to:
- Politically Exposed Persons (PEPs) and their associates
- Clients from higher-risk jurisdictions
- Accounts with unusual transaction patterns
- Corporate or institutional clients
4. Ongoing Monitoring
The Company conducts ongoing monitoring of client transactions to identify and report suspicious activity. This includes automated transaction monitoring and periodic reviews of client documentation.
5. Reporting Obligations
Suspicious transactions are reported to the relevant authorities in accordance with applicable regulations. Staff are trained to identify and escalate suspicious activity.
6. Record Keeping
Client identification records, transaction records, and internal reports are maintained for a minimum of 7 years from the date the business relationship ends or the transaction is completed.
7. Staff Training
All employees receive regular AML/KYC training appropriate to their role and responsibilities.
8. Contact
For questions regarding this policy, contact our compliance team at [email protected].