AML Policy

Anti Money Laundering (AML) Policy

Introduction

Escorp Commodities LLC (hereinafter referred to as “the Company”) is committed to conducting its business with the highest level of integrity and in full compliance with all applicable laws and regulations. This Anti Money Laundering (AML) Policy is designed to prevent the use of our business for money laundering or any other illegal activity.

Policy Statement

The Company is dedicated to ensuring that its operations do not facilitate money laundering activities or the financing of terrorism. We are committed to adhering to all AML laws and regulations in the jurisdictions where we operate, including the United Arab Emirates (UAE).

This policy outlines our commitment to AML compliance and the steps we take to prevent money laundering activities

AML Compliance Responsibilities

Senior Management Commitment: The senior management of the Company is committed to AML compliance and will provide the necessary resources to establish and maintain effective AML measures.

Designated Compliance Officer: The Company will appoint a designated Compliance Officer responsible for overseeing and implementing AML policies and procedures.

Customer Due Diligence (CDD): The Company will conduct due diligence on all customers to verify their identities and assess the risks associated with each customer. Enhanced due diligence will be conducted for high-risk customers.

Ongoing Monitoring: We will continuously monitor customer transactions and account activity to detect and report any suspicious or unusual transactions.

Record Keeping: The Company will maintain accurate records of customer information, transactions, and reports of suspicious activities in compliance with regulatory requirements.

Reporting Suspicious Activity

Employees, contractors, and all relevant stakeholders are obligated to promptly report any suspicious activity related to money laundering or terrorist financing to the designated Compliance Officer. Reports can be made confidentially, and the Company will protect whistleblowers from any form of retaliation.

Training and Awareness

The Company will provide regular training to employees to ensure they understand the risks associated with money laundering and terrorist financing and are familiar with their AML compliance obligations.

Cooperation with Authorities

The Company is committed to cooperating fully with relevant authorities in the investigation and prosecution of any money laundering or terrorist financing activities.

Review and Updating

This AML Policy will be reviewed and updated regularly to ensure it remains effective and in compliance with changing regulations and best practices.

Conclusion

Escorp Commodities LLC is dedicated to maintaining the highest standards of integrity and compliance with AML laws and regulations. We will take all necessary measures to prevent our business from being used for money laundering or any other illicit activities.

For any questions or concerns related to this AML Policy, please contact our designated
Compliance Officer.
Last Updated: 4th October, 2023