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AML and CTF Policy

YourSolar.Store is committed to conducting business ethically and responsibly while preventing and detecting illicit financial activities, including money laundering and terrorism financing. This AML and CTF Policy outlines our approach to compliance with applicable laws and regulations.

1. Compliance with Laws

  • We comply with all applicable AML and CTF laws and regulations, including the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 in Australia.
  • We maintain an AML and CTF program to identify, assess, and manage risks related to our business operations.

2. Customer Due Diligence

  • Know Your Customer (KYC):
    • We conduct KYC checks for customers to verify their identity and assess their risk level.
    • KYC procedures include collecting and verifying customer information, such as name, date of birth, and address.
  • Enhanced Due Diligence:
    • For high-risk customers, we perform enhanced due diligence, including additional verification and monitoring of transactions.

3. Transaction Monitoring

  • Suspicious Activity Detection:
    • We monitor customer transactions to detect and report suspicious activities that may indicate money laundering or terrorism financing.
    • Suspicious activities may include large or unusual transactions, transactions with high-risk countries, or patterns of behavior that deviate from expected norms.
  • Reporting:
    • We promptly report any suspicious activities to the appropriate regulatory authorities in compliance with applicable laws.

4. Employee Training and Awareness

  • Training:
    • We provide regular training to employees to raise awareness of AML and CTF risks and procedures.
    • Employees are trained to recognize signs of money laundering and terrorism financing and report any concerns.
  • Whistleblowing:
    • Employees are encouraged to report any suspicious activities or concerns through a designated reporting channel.
    • Whistleblowers are protected from retaliation in accordance with applicable laws.

5. Record-Keeping

  • We maintain records of customer transactions, due diligence, and reporting in accordance with legal requirements.
  • Records are kept secure and retained for the required period for audit and regulatory purposes.

6. Review and Update

  • We regularly review and update our AML and CTF program to adapt to changing risks and regulatory requirements.
  • Feedback from stakeholders is considered in the continuous improvement of our program.

7. Contact Us

  • If you have any questions or concerns about this AML and CTF Policy, please contact us.

Thank you for supporting YourSolar.Store’s commitment to preventing and detecting illicit financial activities. By working together, we can help maintain the integrity of the financial system and promote a safer community.