Money laundering is the act of converting money or other monetary instruments derived from illegal activities into money or investments that appear legitimate so that their illegal origin cannot be traced. National and international laws apply to companies whose clients can deposit and withdraw funds from their accounts.
Kudos Capital Management adheres to the highest anti-money laundering (AML) and terrorist financing standards and requires its employees to fully comply with anti-money laundering standards. For these purposes, Kudos Resource Partners carries out a full range of measures aimed at identifying and combating money laundering and terrorist financing.
Anti-money laundering procedures
The purpose of Kudos Capital Management' anti-money laundering procedures is to identify customers. Kudos Capital Management provides the necessary assistance to international organizations in the fight against the threat of money laundering and terrorist financing around the world. To this end, Kudos Capital Management has implemented an electronic system that documents and verifies customer identities and tracks all transactions and maintains detailed records of all their transactions.
Kudos Capital Management closely monitors suspicious activities and transactions and promptly reports these activities to the appropriate authorities. To maintain the integrity of monitoring systems and business security, the international legal framework provides legal protection for the providers of such information.
To minimize the risk of money laundering and terrorist financing, Kudos Resource Partners does not accept cash as customer deposits and does not make cash payments under any circumstances. Kudos Capital Management reserves the right to refuse to process a transaction at any stage if there are suspicions that the transaction is linked to money laundering or other criminal activity. In accordance with international law, Kudos Capital Management reserves the right to inform the client that the relevant authorities have been notified of his suspicious activity.
Customer identification and verification.
In order to comply with anti-money laundering laws, Kudos Capital Management requires the client to provide two documents of identification. The first document we require is an identity document issued by the government of the client's jurisdiction, with a photograph of the client. This can be a government-issued passport, a driver's license (for countries where a driver's license is the primary identification), or a local ID (excluding corporate access cards). The second document is a document with the client's full name and real address, to which it was issued no earlier than 3 months before being submitted to the Company. This can be a service invoice, a bank statement, a notarized certificate, or any other type of confirmation with the name and address of the customer.
Customers are required to provide updated identification information and immediately report any changes made. The client must promptly inform the Company about changes in contact information or personal data.