Anti-Money Laundering (AML) Policy
Effective Date: 28 November 2024
B2B HUB LTD ("we," "our," or "us") is committed to complying with all applicable laws and regulations designed to combat money laundering, terrorist financing, and other illegal financial activities. This policy outlines our framework to detect, prevent, and report suspicious financial activities as part of our compliance obligations.
1. Purpose
The purpose of this policy is to:
Prevent B2B HUB LTD’s services and operations from being used for illegal financial activities.
Ensure compliance with anti-money laundering laws and regulations, including those of the UK and applicable jurisdictions.
Protect the company, its clients, and its stakeholders from reputational and financial risks associated with money laundering and terrorist financing.
2. Scope
This policy applies to:
All employees, directors, contractors, and third-party service providers of B2B HUB LTD.
All services offered by B2B HUB LTD, including company formation, licensing, and other financial or regulatory services.
All clients, partners, and stakeholders interacting with our business.
3. Key Principles
3.1 Customer Due Diligence (CDD)
We perform thorough due diligence on all clients before establishing a business relationship.
The CDD process includes verifying the client’s identity, beneficial ownership, and intended purpose of the business relationship.
3.2 Enhanced Due Diligence (EDD)
EDD is applied for high-risk clients or transactions, including politically exposed persons (PEPs) and clients from high-risk jurisdictions.
Additional documentation and ongoing monitoring are conducted to mitigate risks.
3.3 Ongoing Monitoring
Transactions and client activities are continuously monitored for unusual or suspicious behavior.
Any inconsistencies are flagged for review, and further action is taken if necessary.
3.4 Record Keeping
Records of all transactions, client identifications, and due diligence processes are maintained for a minimum of 7 years in compliance with regulatory requirements.
All records are securely stored using A-Registry’s blockchain-based technology for tamper-proof integrity.
4. Prohibited Activities
We will not engage with or provide services to clients or entities involved in:
Money laundering or financing of terrorism.
Activities involving proceeds of illegal or unethical practices.
Transactions that lack clear or legitimate purposes.
5. Reporting Obligations
5.1 Internal Reporting
Employees must report any suspicious activities to the designated Money Laundering Reporting Officer (MLRO) immediately.
5.2 External Reporting
Suspicious activities are reported to the relevant regulatory authorities (e.g., the UK’s Financial Intelligence Unit or equivalent authorities in applicable jurisdictions) in accordance with legal requirements.
5.3 Non-Disclosure (Tipping Off)
Employees are prohibited from informing clients or third parties about investigations or reports made to regulatory authorities.
6. Roles and Responsibilities
6.1 Money Laundering Reporting Officer (MLRO)
The MLRO oversees compliance with this policy, conducts risk assessments, and ensures timely reporting of suspicious activities to authorities.
6.2 Employees and Contractors
All employees and contractors are required to:Familiarize themselves with this policy.
Complete mandatory AML training.
Report any suspicious activities or breaches of this policy.
6.3 Management
Management ensures that sufficient resources are allocated to AML compliance and that the policy is reviewed regularly for effectiveness.
7. Risk Assessment
We conduct regular risk assessments to identify and mitigate potential money laundering risks associated with our clients, services, and jurisdictions of operation.
8. Training and Awareness
All employees undergo regular training on AML laws, regulations, and internal procedures to ensure compliance and awareness.
Training is updated periodically to address changes in regulations and emerging money laundering risks.
9. Non-Compliance and Disciplinary Action
Non-compliance with this policy, whether intentional or unintentional, may result in disciplinary action, including termination of employment or contractual relationships.
10. Updates to the Policy
This policy will be reviewed and updated periodically to reflect changes in regulations or business practices. Updates will be communicated to all relevant parties and published with a revised "Effective Date."
11. Contact Information
For questions or to report suspicious activities, please contact our designated MLRO:
Email: aml@b2bhub.ltd
Phone: +44 7441 426009
Address: Dalton House, 60 Windsor Road, Merton Abbey, London, Greater London, SW19 2RR