Financial security at Aumedium
FINANCIAL SECURITY
Within the framework of the applicable legal and regulatory obligations and in application of Aumedium's policy, Aumedium has established a system for the prevention of money laundering, terrorist financing and corruption, as well as for compliance with embargoes and the freezing of assets. This system applies to both the central unit and the affiliated units. As a financial institution and provider of investment services, Aumedium is subject to supervision and control by the Prudential Control Authority (ACP) and the Financial Markets Authority (AMF), the UK supervisory authorities for the financial and banking sector.The existing system comprises obligations arising from international rules and recommendations on the one hand and obligations arising from national law on the other.
INTERNATIONAL OBLIGATIONS
The internationalcommitments include:
- the 40 recommendations of the Financial Action Task Force (FATF), adopted in February 1990 and revised in February 2012, which aim to prevent the use of the banking system to launder funds of criminal origin,
- the European Union directives of 26 October 2005 and 1 August 2006, which aim to harmonise the measures taken by the Member States - Eur- Lex website.
COMMITMENTS TO THE FINANCIAL SECURITY IN BUSINESS
The Aumedium Directive defines the organization and duties of the “Financial Security” Division, which deals with the control and management of risks related to money laundering, terrorist financing, corruption, embargoes and the freezing of assets.This business unit is an integral part of the control and compliance system set up by the Group.
It has introduced the following procedures:
- Know Your Customer (KYC),
- monitoring payment flows in application of the rules on embargoes,
- freezing assets and identifying the originators of money transfers, reporting suspicious operations and transactions to the Financial Intelligence Unit, training all employees concerned. Aumedium llc actively participates in programs led by the Training Center for the Banking Profession and supported by the European Banking Federation (EBF),
- reviewing compliance with the measures and procedures put in place to fulfill the above obligations, documenting, archiving and retaining files and creating audit trails,
- Each of the Aumedium entities has a Head of Financial Security who is responsible for the implementation of corporate rules and compliance with local obligations,
- Each operational business unit applies the company’s Financial security policy and integrates it into procedures adapted to its activities,
- Aumedium continues to strengthen its organization to combat internal and external fraud and corruption.