BITCHANGE  

 

AML CTF Compliance Policy 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



1. 

General Definitions 

2. 

Introduction 

3. 

Policy Applicability: Provision of Administrative Services 

4. 

The Responsibilities of the Board of Directors 

5.  

5.1.  

5.2. 

Money Laundering Compliance Officer 

General 

Duties of the AMLCO 

6. 

6.1. 

6.2. 

6.2.1 

6.2.2. 

6.3. 

 

6.4. 

6.5. 

Risk-Based Approach 

General Policy 

Identification of Risks 

General/Principles 

Company Risks 

Design and Implementation of Measures and Procedures to Manage and Mitigate the Risks 

Dynamic Risk Management 

Relevant International Organisations 

7. 

7.1. 

7.2. 

7.2.1. 

7.2.2. 

7.3. 

7.4. 

7.4.1. 

7.4.2. 

7.4.3. 

Client Acceptance Policy 

General Principles of the CAP 

Criteria for Accepting New Clients (Based on their respective risk) 

Normal Risk Clients 

High Risk Clients 

Not Acceptable Clients 

Client Categorisation Criteria 

Low Risk Clients 

Normal Risk Clients 

High Risk Clients 

8. 

8.1. 

8.2. 

8.3. 

8.4. 

8.5. 

 

8.6. 

8.7. 

8.8. 

8.8.1. 

8.8.2. 

8.8.3. 

8.8.4. 

8.8.5. 

8.9. 

Client Due diligence and Identification Procedures 

Application of Client Due Diligence and Identification Procedures 

Transactions that Favour Anonymity 

Failure or Refusal to Submit Information for the Verification of Clients’ Identity 

Time of Application of the Due Diligence and Client Identification Procedures 

Construction of a Profile and General Client Identification and Due Diligence Principles 

Further Obligations for Client Identification and Due Diligence Procedures 

Simplified Client Identification and Due Diligence Procedures 

Enhanced Client Identification and Due Diligence (High Risk Clients) 

General Provisions 

Non Face-to-Face Clients 

Trust Accounts 

‘Politically Exposed Persons’ Accounts 

Clients from Countries Which Inadequately Apply FATF’s Recommendations 

Client Identification and Due Diligence Procedures (Specific Cases) 

8.9.1. 

8.9.2. 

8.9.3. 

8.9.4. 

8.9.5. 

8.10. 

Natural Persons Residing in Estonia 

Natural Persons Not Residing in Estonia 

Unincorporated Businesses, Partnerships and Other Persons with no Legal Substance 

Legal Persons 

Nominees or Agents of Third Persons 

Reliance on Third Persons for Client Identification and Due Diligence Purposes 

9. 

9.1. 

9.2. 

On-going Monitoring Process 

General 

Procedures 

10. 

10.1. 

10.2. 

10.3. 

Recognition and Reporting of Suspicious Transactions/Activities to the FIU 

Reporting of Suspicious Transactions to the FIU 

Anti-Money Laundering Compliance Officer’s Report to the FIU 

Submission of Information to the FIU 

11. 

11.1. 

11.2. 

11.3. 

Record-Keeping Procedures 

General 

Format of Records 

Certification and Language of Documents 

12. 

12.1. 

12.2. 

12.2.1. 

12.2.2. 

Employees’ Obligations, Education and Training 

Employees’ Obligations  

Education and Training 

Employees’ Education and Training Policy  

Money Laundering Compliance Officer Education and Training Program 

13. 

Appendices