Cosmo Casino is committed to maintaining the highest standards of Anti-Money Laundering (AML) and combating the financing of terrorism (CFT) in compliance with applicable laws and regulations in New Zealand and internationally. This AML Policy outlines the measures we implement to detect, prevent, and report suspicious activities.
1. Purpose of the Policy
The purpose of this policy is to:
- Prevent the use of Cosmo Casino for money laundering or terrorist financing.
- Establish procedures for identifying and reporting suspicious transactions.
- Ensure compliance with all applicable AML and CFT laws and regulations.
- Protect the reputation of Cosmo Casino.
2. Regulatory Framework
Cosmo Casino operates in accordance with the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (New Zealand) and other relevant international regulations.
3. Customer Due Diligence (CDD)
We implement the following CDD measures:
- Verification of Identity: Collect and verify personal data such as name, date of birth, address, and identification documents (e.g., passport or driver’s license).
- Enhanced Due Diligence (EDD): For high-risk customers, including politically exposed persons (PEPs), we conduct additional checks.
- Ongoing Monitoring: Regularly update customer information and monitor transactions for any irregular or suspicious patterns.
4. Record Keeping
We maintain records of customer transactions and identification for at least 7 years, as mandated by regulatory requirements. These records are securely stored and protected from unauthorized access.
5. Reporting Suspicious Activities
Cosmo Casino employees are required to report any suspicious activity to the AML Compliance Officer without delay. Reports may include:
- Unusually large or irregular transactions.
- Attempts to circumvent customer identification protocols.
- Transactions involving high-risk jurisdictions.
- Any suspicion of fraud or terrorist financing.
6. AML Compliance Officer
The designated AML Compliance Officer is responsible for:
- Implementing and overseeing AML policies and procedures.
- Conducting regular training and awareness programs.
- Reporting suspicious activities to the relevant authorities.
- Ensuring ongoing compliance with all AML/CFT obligations.
7. Staff Training
All Cosmo Casino staff members receive regular training on AML and CFT requirements, including how to identify suspicious activities and report them appropriately.
8. Internal Controls and Audits
Regular internal audits are conducted to ensure the effectiveness of AML controls and compliance with legal requirements.
9. Non-Compliance
Failure to comply with this AML Policy may result in disciplinary action, including termination of employment or service agreements, and reporting to relevant authorities.
10. Review and Updates
This AML Policy will be reviewed periodically to ensure its continued effectiveness and compliance with evolving legal and regulatory requirements.
11. Contact Information
For any questions or concerns regarding this AML Policy, please contact our Compliance Team at [email protected].
