Money Laundering and Terrorism Financing involve hiding or moving money gained from illegal activities to make it seem legitimate. Criminals use these processes to avoid getting caught. Money Laundering supports corruption and organized crime, allowing criminals to use the money without being noticed by authorities. Terrorist financing, on the other hand, involves funding activities that promote terror, and it doesn't focus on making the money appear legitimate.
The international community recognizes the dangers of these activities, and organizations like the United Nations and the Financial Action Task Force are working to combat them. Metablock Enterprise Limited is committed to fighting money laundering and follows the laws in Nigeria. They take steps to prevent people involved in financial crimes from using their products and services.
Quickie uses a risk-based approach to prevent Money Laundering and Terrorism Financing risks. They have rules for employees and contractors, and there is a Compliance Officer to ensure everyone follows these rules.
There are three main areas of focus:
Organizational risks: Rules about conflicts of interest, market abuse, and other business-related risks.
Financial Services conduct risks: Making sure they follow financial regulations and rules.
Client-related risks: Ensuring compliance with laws about money laundering, fraud, and other financial crimes.
The policy includes activities like knowing customers, checking transactions, and keeping records. They have procedures to identify and verify customers, and sometimes, they perform extra checks for higher-risk customers. Quickie follows the law and reports any suspicious activities.
Quickie has rules and procedures to stop criminals from using their services for illegal activities. They assess the risks associated with their business and services regularly and have a plan to follow if they find any risks.
Quickie follows all laws related to money laundering and terrorism financing. They also provide training for their employees and customers to stay aware of the risks and regulations.