As a financial institution (FI) pursuant to the FTRA, Easyterms Ltd., is required to risk rate all of its clients, to determine the risk of money laundering, terrorist financing and proliferation financing, which they bring to the company. In doing so, Financial Institutions must account for any risk identified by the National Identified Risk Framework Coordinator, through the National Risk Assessment, and any other assessment made at a national level.
It is the policy of Easyterms Ltd. to comply with all of the relevant legislation, Rules, Guidelines and its own policies and procedures, in order to prevent and detect any attempt by the client or potential client, to use its business for money laundering, terrorist financing or proliferation financing.
This framework will document the measure put in place to comply with the regulatory mandate for client risk assessment. The framework must be kept up to date and may be requested by the regulator.