AML policy

1. Policy Statement

Yoru Factor Ltd. is committed to the highest standards of anti-money laundering (AML) compliance. We take a zero-tolerance approach to any form of money laundering or terrorist financing.

2. Purpose

This policy outlines the procedures we follow to:

• Prevent the use of our services for money laundering.
• Detect and report suspicious activity.
• Fulfil all legal and regulatory obligations under the UK Proceeds of Crime Act 2002, Money Laundering Regulations 2017, and relevant EU directives.

3. Scope

This policy applies to all Yoru operations, including onboarding, client interactions, financial transactions, and third-party engagements.

4. Responsibilities

• Compliance Officer: Oversees AML strategy and reporting.
• All Staff: Must understand, adhere to, and report concerns in line with this policy.
• Contractors/Partners: Must comply with equivalent AML standards.

5. Know Your Customer (KYC) Procedures

We conduct robust KYC checks including:

• Identity verification using official documents.
• Address verification.
• Beneficial ownership determination.
• Risk-based customer profiling.

6. Ongoing Monitoring

All transactions are monitored for suspicious patterns. High-risk profiles undergo enhanced due diligence (EDD).

7. Suspicious Activity Reporting

Any employee who suspects money laundering must immediately report it to the Compliance Officer, who will determine whether a Suspicious Activity Report (SAR) should be filed with the National Crime Agency (NCA).

8. Training and Awareness

All relevant staff receive mandatory AML training upon hiring and annually thereafter.

9. Record Keeping

We maintain all KYC and transaction records for a minimum of 5 years, in accordance with legal requirements.

10. Policy Review

This policy is reviewed annually or following significant regulatory changes.

Contact

Questions regarding this policy can be directed to: [email protected]