Compliance
Valcambi had been regulated since April 1998 (introduction of the Money Laundering Act
defining due diligence requirements in relation with clients) by the EBK (Swiss Federal Banking Commission).
In July 2004 Valcambi affiliated to OAD FCT (Organismo di Autodisciplina dei Fiduciari del Canton Ticino),
the Self Regulating Organisation which supervises compliance under the rules against money laundering.
We are annually audited by KPMG in respect to compliance with the applicable anti-money laundering Swiss laws, rules and regulations.
The Board of directors and management of Valcambi are setting the highest value on the active prevention
of not getting involved in money laundering and/or terrorist financing activities, and on ensuring strictest
compliance with the rules and regulation to prevent and minimize the reputation risk.
Identification
Valcambi does not conduct business with parties who do not fully disclose their business
and counterparts, and does not knowingly accept funds that are derived from unlawful sources or
activities. Valcambi properly identifies the client, the beneficial owner, the precious metals
origin and source.
Before entering a new business relationship with us, the client, whether a natural person
or a corporation, is asked to provide a list of reliable documents for identification purposes.
We then carry out due diligence to verify the identity of the client and of the beneficial owner.
Only if
the information and documents obtained do fully satisfy the identification requirements, we accept the client and start the business relationship.
Client relationships and transactions are regularly monitored and reviewed by Senior Management on a risk-based approach.
World-check intelligence database is also used during the process of account opening for client-base auditing and payment
filtering (once every 24 hours).
|
