ACN/ABN: 94 656 660 730
Registered Office: Level 17, 31 Queen Street, Melbourne, VIC 3000, Australia
AML/CFT
Policy
Majestic Track Pty Ltd implements an Anti-Money Laundering (AML), Countering
Financing of Terrorism (CFT), and Know Your Customer (KYC) Policy to prevent
involvement in illegal activities. We comply with international and local laws
by ensuring effective internal procedures and monitoring suspicious activities.
Definitions
Policy
Coverage
The policy includes internal controls, a compliance officer, employee training,
verification procedures, monitoring, and audits.
Internal
Controls
We implement systems to:
Compliance
Officer
Our Compliance Officer oversees the implementation and enforcement of AML/CFT
measures, ensuring proper reporting and investigation of suspicious activities.
This officer interacts with law enforcement when necessary.
Training
Employees receive annual AML/CFT training, ensuring compliance with current
laws and regulations. New employees undergo training before beginning work.
Verification
Procedures
We conduct due diligence and KYC checks before establishing business
relationships, ensuring compliance with sanctions and PEP lists.
Monitoring
and Risk Assessment
We assess transaction risks and monitor for unusual activity using advanced
systems. We calculate compliance risk profiles upon customer onboarding and
update them regularly.
AML Audit
The Compliance Officer conducts annual AML/CFT audits and ensures all records
are retained for at least five years.
Data
Preservation
All customer identification and transaction records are stored for a minimum of
five years after the termination of the business relationship.