Anti-Money Laundering (AML) Policy
1. Introduction
BigShark.co.in is committed to maintaining the highest standards of integrity and ethical behavior. This Anti-Money Laundering (AML) policy outlines our commitment to preventing and detecting activities related to money laundering and the financing of terrorism.
2. Compliance with Applicable Laws
BigShark.co.in operates in full compliance with all applicable AML laws and regulations. We adhere to international standards and continuously monitor and update our procedures to ensure compliance with evolving legal requirements.
3. Customer Due Diligence (CDD)
We implement a risk-based approach to customer due diligence to identify and verify the identity of our users. This includes collecting relevant information such as name, address, date of birth, and other details necessary to comply with regulatory requirements.
4. Enhanced Due Diligence (EDD)
In certain high-risk situations, we conduct enhanced due diligence, including additional verification measures and ongoing monitoring of transactions. This is to mitigate the risk of potential money laundering or illicit activities.
5. Suspicious Activity Monitoring
BigShark.co.in employs advanced monitoring systems to detect and report any suspicious or unusual transactions. Our team is trained to recognize and investigate any activity that may indicate money laundering, fraud, or other illicit financial activities.
6. Record Keeping
We maintain comprehensive records of customer transactions and identity verification information. These records are securely stored and made available to relevant authorities upon request in accordance with applicable laws.
7. Reporting
If we identify any transactions or activities that raise suspicions, we promptly report them to the appropriate regulatory authorities. We cooperate fully with law enforcement agencies and other relevant entities in the investigation and prosecution of any illegal activities.
8. Training and Awareness
All employees at BigShark.co.in undergo regular training on AML policies and procedures. This ensures that our team remains vigilant and well-informed about the latest developments in AML regulations.
9. Communication
We encourage open communication with our users and the authorities. Users are encouraged to report any concerns about potential money laundering or suspicious activities through our designated channels.
10. Regular Review and Updates
This AML policy is subject to regular review to ensure its effectiveness and relevance. Updates will be made as necessary to reflect changes in laws, regulations, or the nature of our business.
By using BigShark.co.in, users agree to comply with this AML policy. We reserve the right to terminate accounts and report suspicious activities to the relevant authorities