ANTI-MONEY LAUNDERING &
& PROLIFERATION OF WEAPON OF MASS
DESTRUCTION FINANCING (AML/CTPF)
Discover Management Co., Ltd. (“DM”) is committed to prevent its entity as a source of money
laundering and supporting financial to terrorist and proliferation of weapon of mass destruction.
DM has realized the importance of complying with the regulations regarding anti-money laundering,
counter terrorism and proliferation of weapon of mass destruction financing, therefore the
AML/CTPF Policy, Procedure and Working manual were established to ensure that the bank’s
business operations comply with regulations which stated
Before establishing relationship with customer, DM performs KYC measure by requesting customer to provide information/documents as required by regulations. Customer Due Diligence (CDD) measure is also applied against customer to assess the customer risk level. Moreover, establishing relationship with a high-risk customer ex. Political Exposed Persons (PEPs) would subject to approval by management level, risk management and annually review. DM has no policy of Non-face-to-face engagement therefore, DM is required its customers to provide complete information and evidence attesting to the customer’s identity prior to approval of the first transaction.
Prior establishing relationship/conducting transaction, DM screens customer and related person in transaction against sanction lists which include Thailand Designated list, announced by Anti-Money Laundering Office and international sanction lists pursuant to international standard.
Even though DM has no direct access to its customers’ financial movements, it will review and report unusual or suspicious transactions as required by regulations.
DM has reporting process to ensure that DM’s transactions complies with the regulations.
DM maintains information, documents or evidences for 10 years as imposed by regulations. All relevant materials must be maintained in a proper way and must be in conditions that can be retrieved for verification or for use as evidences in compliance with the laws.
DM arranges AML/CTPF training courses for staffs to build up knowledge regarding anti-money laundering and counter – terrorism and proliferation of weapon of mass destruction financing via various channels. Knowledge assessment is required to evaluate their understanding after the training.
DM has is outsourcing its Internal Audit to a third party auditor to regularly evaluate the implementation of AML/CTPF policy and procedure.