Anti-money laundering policy
Note: This document constitutes a translation from its original version in French. In case of discrepancies between the language versions, the French version shall prevail.
The following provisions form an integral part of b-sharpe's Terms and Conditions and must be read in connection with them.
1. b-sharpe, as a supervised financial intermediary, complies with Federal Act on Combating Money Laundering and Terrorist Financing (Anti-Money Laundering Act of 10 October 1997, CC 955.0, « AMLA »). Preventing and fighting money laundering is a central element of the legislative framework put in place by regulatory authorities in developed countries. The Anti-Money Laundering Act is designed to prohibit the movement of funds from criminal activities and to eradicate the availability of financing for terrorist activities.
2. b-sharpe undertakes to comply scrupulously with the law and to combat all forms of money laundering, in particular through the service provided by b-sharpe. b-sharpe strictly complies with its duties of due diligence, by taking all necessary measures, including the following:
- Verification of the identity of the customer (Art. 3 AMLA);
- Establishing the identity of the beneficial owner (Art. 4 AMLA);
- Repetition of the verification of the identity of the customer or the establishment of the identity of the beneficial owner (Art. 5 AMLA);
- Special duties of due diligence and clarification of the economic background and the purpose of a transaction or of a business relationship (Art. 6 AMLA);
- Duty to keep and retain records for a minimum of ten years (Art. 7 AMLA).
3. b-sharpe is required by law, when establishing business relationships, to verify the identity of the other party on the basis of duly certified and valid supporting documents. When the contracting partner is a legal person, b-sharpe must gather information on the powers to legally bind and represent that legal person and verify the identity of the persons establishing the business relationship on behalf of the legal person.
4. The Customer must provide b-sharpe, spontaneously or upon request, with any information and document, allowing to identify and clarify the identity of the Customer, the economic beneficiary (s) and the origin of the funds, at the beginning of the relationship or when conducting the repetition of the verification in compliance with the duties of b-sharpe.
5. b-sharpe may require any information and / or supporting documentation on the object and purpose of the operation that the Customer wishes to conclude with b-sharpe, in particular on the origin and destination of the funds committed. The extent of the information to be collected will depend on the nature of the transaction or the risk represented by the Customer.
6. b-sharpe may require additional supporting documents, in particular to prove the reality and transparency of the commercial operations justifying the exchange transactions.
7. b-sharpe is subject to the following duties in the event of any suspicion of money laundering:
- Duty to report and inform the competent authorities in the event of suspicious transactions or suspicions of money laundering (Art. 9 AMLA);
- Freezing of assets (Art. 10 AMLA).
8. b-sharpe reserves the right to decline to enter into a relationship with a potential customer and / or to refuse to execute a transaction at any stage of the relationship with a customer, if the information provided by the potential customer or existing customer is found to be intentionally false or incomplete or if b-sharpe suspects any link to illegal activities.
9. b-sharpe is also obliged to report any suspicious transactions to the competent authorities and freeze the assets concerned.
10. To the extent permitted by law, b-sharpe has the right to take all the necessary measures to remove any suspicion and proceed, if necessary, to any communication to the competent authorities, as well as to freeze the assets concerned.
11. The collection of information on the Customer and the operations he / she wishes to carry out is crucial in order for b-sharpe to comply with the applicable legislation. The collection of information by b-sharpe is based on the document «Data Protection policy ».
12. b-sharpe reserves the right to use the services of a third party to confirm the information gathered. The Client undertakes to inform b-sharpe of any changes subsequent to the opening of the relationship.
13. Due to the applicable legislation, the information collected must be kept by b-sharpe for a period of ten years after the termination of the business relationship or after the execution of a transaction (Art. 7 para. 3 AMLA).
14. By using b-sharpe's services for inappropriate purposes, the Customer may be exposed to criminal prosecution.
15. Last update: 11.11.2019.