Since March 2018, Company Registry imply Guideline on Compliance of Anti-Money Laundering and Counter -Terrorist Financing Requirements for Trust or Company Services Providers. There has been total of 1800 of TCSP licenses issued within the past 1.5 year. There has been 1024 TCSP licensed operator being interviewed. Total of 452 warnings given out to licensed holder and 32 firms has been prosecuted.
You may ask what does AML and CTF policies about, what is required by the Company Registry.
We as your licensed service provider of being your firms Company Secretary, we are required to perform:
- Risk Assessment and Management
- Customer Due Diligence (CDD) measures
- Ongoing Monitoring during servicing period
- Suspicious Transactions Reporting
- Record Keeping
- Identify Ultimate Beneficially Owner and also Local Representative
Centre O do send out CDD forms and request our clients to check/ fill out information about their businesses/ personal details including passport number, date of birth, place of birth, Clients are required to sign and acknowledge the information are true and correct. These information will be kept internally under Centre O’s CRM system, and only will be shared with Company Registry when CR officer come specifically asking for it.
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