AML and KYC Policies
At Be Prime Group Ltd., we are dedicated to adhering strictly to international trade standards, complying with all relevant legislation to combat money laundering and counter-terrorism financing. Our Compliance Department monitors compliance with these requirements, ensuring, all processes meet FATF recommendations and internal AML/KYC standards. These policies are mandatory for all employees and customers and govern our engagement with every individual who intends to become a client.
The Compliance Department ensures:
Document Verification: All client documentation is accurate, current, and in line with applicable legal standards.
Standardization with International AML Protocols: All company operations consistently meet international anti-money laundering standards.
Mandatory Compliance for Staff and Clients: All employees and customers must adhere to these AML/KYC standards.
AML/KYC Rules for Clients
1. Adherence to AML and KYC Policies:
You are required to meet BePrimeGroup AML and KYC requirements throughout your relationship with us. At the company’s discretion, you may be required to provide additional documentation and complete a KYC questionnaire as part of ongoing compliance. You agree to provide requested information promptly.
2. Withdrawal Rules:
Withdrawals are permitted only to accounts in your name. Withdrawals to third-party accounts or internal transfers between Be Prime Group customers are strictly prohibited.
3. Information Sharing:
Be Prime Group reserves the right to share your information with financial institutions and law enforcement agencies as required by law, without prior notice or consent. In compliance with this policy, we retain records of your transactions for a minimum of five years.
Verification Process and Levels
Be Prime Group implements a multi-tiered client verification process to ensure robust compliance with AML and KYC requirements. Clients must complete the following verification levels to access various services:
Default Level: Registered
Description: This is the initial level where clients provide basic registration information to create an account.
Level 1: Verified
Required Documents:
Proof of Identity: Passport, Driving License, Permanent Residence, and a Selfie.
Proof of Address: Utility Bill, Bank Statement, or Registration Document issued by a government authority (dated within the last three months).
Access: Basic trading features and withdrawals.
Level 2: Verified+
Required Documents:
Proof of Funds: Bank statements, income proof, or other relevant documents confirming the lawful origin of funds.
Access: Extended features, higher transaction limits, and additional account benefits.
Client Obligations to Prevent Illicit Activities
1. Adherence to Legal Standards:
You agree to comply with all relevant laws, including international regulations, to prevent illicit activities, financial fraud, and money laundering. You are responsible for preventing your direct or indirect involvement in illegal financial activities or transactions through Be Prime Group website and services.
2. Verification of Fund Origin:
You confirm the legal origin, ownership, and right to use all funds transferred to your Be Prime Group account. If there is evidence of suspicious activity, deposits from untrusted sources, or fraudulent behavior (e.g., refunds or payment cancellations), Be Prime Group reserves the right to conduct an investigation, block or close your account, cancel any transaction, and suspend account activities until the investigation concludes. Decisions will be guided by applicable laws, FATF recommendations, and industry best practices.
Additional Document Verification and Investigations
1. Additional Information for Withdrawals:
If your withdrawal method differs from your deposit method, Be Prime Group may require further information. Failure to provide the requested information may result in account suspension.
2. Document Verification During Investigations:
During an investigation, we may request additional documentation to verify identity, residential address, and lawful ownership of funds. Be Prime Group may require original documents in certain cases.
3. Restricted Jurisdictions:
Be Prime Group does not serve clients in jurisdictions blacklisted by the FATF. Additionally, services are not available to U.S. citizens or residents.
Suspicious Activity Monitoring and Account Restrictions
1. Right to Refuse Suspicious Transactions:
Be Prime Group reserves the right to refuse any transaction deemed suspicious. Preventative measures, such as account blocking or closure, may be employed, and Be Prime Group bears no civil liability for obligations resulting from such measures.
2. Confidentiality of Compliance Measures:
Be Prime Group is not obligated to disclose to clients or third parties the specifics of actions taken to fulfill AML/CFT requirements, such as suspicions raised, reasons for transaction refusals, account closures, or document requests.
Policy Scope and Company Discretion
1. Policy as a Framework:
This document serves as a summary to clarify Be Prime Group AML/KYC policies and commitment to global AML standards. Our internal AML/KYC procedures may supplement these rules, and nothing in this summary should be interpreted as fixed or non-amendable.
2. Policy Integration with Client Agreement:
This AML/KYC policy is an integral part of any agreement with Be Prime Group Ltd. Noncompliance with this policy may lead to the immediate termination of the business relationship at Be Prime Group discretion.