Anti-Money Laundering Policy

Anti-Money Laundering Policy

At TradeX, we are committed to complying fully with all applicable Anti-Money Laundering (“AML”) laws in our business conduct. Our AML Policy aims to prevent involvement in money laundering activities and requires adherence to strict compliance measures.

Policy Statement and Purpose

TradeX is dedicated to conducting business only with reputable customers and vendors involved in legitimate activities. We implement “Know-Your-Customer” (“KYC”) procedures and systemic ‘Red Flags’ to detect suspicious activities. Our employees understand the importance of recognizing questionable transactions to protect our reputation and avoid legal penalties.

Scope and Applicability

This AML Policy applies to all individuals associated with TradeX, including employees, contractors, and agents, referred to as “Designated Persons.”

Compliance Officer and Designated Director

  • Compliance Officer: Oversees AML compliance and reports to the Designated Director. All concerns must be reported to the Compliance Officer.
  • Designated Director: Ensures compliance and reports to the Board of Directors. Mr. Divij Goyal currently holds this position.

Guidance on Money Laundering

Money laundering involves concealing the origins of illegally obtained funds. It typically includes:

  • Placement: Introducing illegal money into the financial system.
  • Layering: Moving funds to obscure their origin.
  • Integration: Reintroducing funds as legitimate money.

Potential Red Flags

Designated Persons should be alert to:

  • Reluctant customers or suppliers.
  • Unusual payment patterns.
  • Transactions with no clear business purpose.

Compliance Steps

  • Know Your Business Partners: Conduct due diligence on partners.
  • Monitor Financial Activity: Record transactions and report suspicious activities.
  • Keep Complete Records: Maintain accurate transaction records.

Violations

Violations include failing to report suspicious activities or comply with KYC requirements. Consequences may include disciplinary action or legal proceedings.

Consequences of Violation

Violations may lead to disciplinary actions, including termination or legal proceedings, as determined by the Compliance Officer and Designated Director.

TradeX is committed to cooperating with law enforcement and regulatory agencies to enforce AML laws. For any queries, please contact our Compliance Officer.

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