1. Where the needs of enhanced due diligence arise particularly for those customers whose is identified as High Risk and/or Politically Exposed Person (“PEP”) or where there are unidentified hits in the World Check results, TradeUltra Ltd (herein the “Company”) will take necessarily meant to identify those customers and the nature of business of Company or proposed Company.
Below are some of the additional questions to ask and/or information required from potential/existing customers for enhance due diligence purposes:
2. Interview customer to check the legitimacy of the business by asking the following additional open-ended questions (“know your customer” questions):
3. Once satisfied with customer’s explanation, we will proceed to get the customer to complete our Enhanced Due Diligence Form or Statutory Declaration, where applicable and necessary. However, we will inform customer at the outset that the business decision depends on our Compliance’s final approve of its/his/her application.
4. Once Compliance is satisfied on all above, Trade Ultra’s Compliance Officers/ Officers and /or Employees will proceed to advise customer on the business relationship.
5. Trade Ultra’s Compliance Officer/ Officers and /or Employees to use Checklist and Control to complete the On Boarding or Annual Review.