- THE TERM MONEY LAUNDERING: Money laundering is a generic term used to cover all activities used to conceal the origins of criminal proceeds so that they appear to have originated from a legitimate source. This gives rise to three features common to Persons engaged in criminal conduct, namely that they seek: (a) to conceal the true ownership and origin of criminal proceeds; (b) to maintain control over them; and (c) to change their form.
- PERSONAL INFORMATION: While opening your account and providing services to you, it will be necessary for us to obtain and hold personal information that we obtain from you in accordance with data protection and anti-money laundering legislation. You agree that we can rely on, hold, and process personal information for the purpose of performing those services and our obligations and for the purpose of improving those services through such things as product improvement and development.
- PROVISION OF OUR SERVICES: If you do not provide the information requested by us or agree to our information handling practices, we may not be able to provide our services to you.
- DISCLOSING INFORMATION: You agree to us disclosing any information we collect from you:
a) Where we are required by law or regulatory authorities.
b) To regulatory authorities and to such third parties as we originally consider necessary in order to prevent crime; d) Where reasonably necessary, to any third party which provides a service to us, but restricted to the purposes of providing that service. - CREDIT AND IDENTITY CHECKS:
You consent to us, or our agents acting on our behalf, carrying our credit and identity checks, including money laundering, compliance regulatory reporting and fraud prevention checks, as we may reasonably consider necessary or desirable, including references on your bank or any credit reference agency. You agree that any third party that we use for this purpose may share any information concerning you with us and other
organizations.
