Anti-money laundering and terrorist financing policy

Important Information concerning the anti-money laundering and terrorist financing policy by A B Exchange Pleguezuelo Witte, Antonio José (hereinafter referred to as “ABX”)

1. ABX is subject to the Swiss Federal Law on the fight against money laundering and terrorist financing in the financial sector (LBA Act Money Laundering 10 October 1997 Updated November 1, 2013, 955.0). The prevention and fight against money laundering is a central element of the legislative framework established by the regulatory authorities in developed countries. The law on money laundering is designed to prohibit the flow of funds from criminal activities and to eradicate the availability of funding to terrorist activities.
2. ABX agrees to scrupulously respect the law and to fight against all forms of money laundering including through the proposed service. ABX complies strictly with due diligence obligations, by taking action from the following in particular:
   • Verifying the identity of the customer (Art.3)
   • Identification of the beneficial owner (Art.4)
   • Renewal of the verification of the identity of the customer or the identity of the beneficial owner (Art.5)
   • Clarification of obligations (Art.6)
   • Obligation to establish and maintain records for a period of at least ten years (Art.7)
3. Collection of information on the client and the operations it wants to carry out is crucial to enable ABX to satisfy the law:
   • ABX is required by law, when establishing business relations, to verify the identity of the customer on the basis of a valid and duly certified documents. When the other party is a corporation, ABX must take cognizance of provisions regulating the power to bind the other party and check the identity of persons establishing the business relationship on behalf of the corporation.
   • The customer is required to respond to any request from ABX concerning the credentials of the beneficial owner of the transactions.
   • ABX also reserves the right to request information and / or supporting documentation on the object and purpose of the transaction that the customer wishes to conclude with ABX, particularly on origin and destination of the funds committed. The extent of the necessary information to be collected will depend on the nature of the transaction or the risk of the counter party.
4. ABX has the following obligations in case of suspicion of money laundering:
   • Duty to communicate and inform the competent authorities of suspicious transactions or in case of suspicion of money laundering (Art.9)
   • Blocking of assets (Art.10)
   • Exclusion of criminal and civil liability (Art.11)
5. ABX reserves the right to refuse to enter into a relationship with a potential client or refuse to execute a transaction at any stage of the relationship with a client, if the information provided by the client or potential the existing client appear to be intentionally false or incomplete or ABX suspect any connection to illegal activity.
6. ABX is further obliged to report suspicious transactions to the authorities. By using our service for improper purposes, the customer is liable to criminal prosecution.

Last update: 7 December 2021