AML & KYC Policy

1. Purpose

RIBC Global provides company formation, corporate administration and bank account introduction services. Those services carry an inherent money-laundering and terrorist-financing risk. This policy sets out the controls we apply to identify and manage that risk, and the obligations we place on our clients.

2. Customer due diligence

We do not act for any client before customer due diligence is complete. For every engagement we identify and verify:

• the identity of each beneficial owner holding 25% or more of the entity;
• the identity of every director, shareholder and authorised signatory;
• the ownership and control structure of the entity;
• the source of funds and, where relevant, the source of wealth;
• the intended business activity and the jurisdictions it will operate in.

Verification is carried out using government-issued photographic identification, independent proof of address, and corporate records obtained from official registries.

3. Enhanced due diligence

We apply enhanced due diligence where the client or a beneficial owner is a politically exposed person, is resident in or connected to a high-risk jurisdiction, where the ownership structure is unusually complex, or where the stated activity does not match the observed profile.

4. Ongoing monitoring

Client records are reviewed periodically and on any material change in ownership, control or activity. Documentation is refreshed on a risk-based cycle.

5. Activities we decline

We will not act, and will terminate an existing engagement, where a structure appears intended to conceal beneficial ownership, evade tax, evade sanctions, or disguise the origin of funds. We decline sectors that fall outside our compliance appetite and we say so at the first opportunity rather than after fees have been paid.

6. Sanctions screening

All clients, beneficial owners and connected parties are screened against applicable international sanctions and watch lists before onboarding and periodically thereafter.

7. Record keeping

Due diligence records and transaction records are retained for the period required by the law of the relevant jurisdiction, and in any case for no less than five years after the end of the client relationship.

8. Reporting

Where we know or suspect that funds are the proceeds of crime, we are obliged to report to the competent authority in the relevant jurisdiction. We are prohibited by law from informing the client that such a report has been made.

9. No guarantee of banking

Bank account opening is decided solely by the receiving financial institution against its own criteria. We prepare and introduce applications; we cannot and do not guarantee that any account will be opened.

10. Contact

Questions about this policy may be sent to info@ribcglobal.com.