Anti-Money Laundering Policy
As per Anti-money laundering legislation in effect not only in Singapore but in most countries makes it necessary for
ENTELNOVA GLOBAL SERVICE to make
public the companies policy to ensure we comply with money laundering
regulations and not accept payments that expose
ENTELNOVA GLOBAL
SERVICE to possible criminal fines and
penalties.
Money laundering is the act of converting money or other monetary
instruments gained from illegal activity into money or investments that
appear to be legitimate so that its illegal source cannot be traced.
Singapore Laws makes it illegal for
ENTELNOVA GLOBAL SERVICE.
its employees, agents, or partners to knowingly engage, or attempt to
engage in a monetary transaction in criminally derived property.
It is also illegal to transport, transmit or transfer, or attempt to
transport, transmit or transfer a monetary instrument or funds in excess
of S$30,000 (Thirty Thousand Singapore Dollars) either into or out of
Singapore and/or any other countries with similar legislation if the purpose is
to carry out an illegal activity, or to avoid reporting requirements.
In addition, all users are required to ensure they comply with MAS's
regulations at http://www.mas.gov.sg/legislation_guidelines/aml/regulations.html
ENTELNOVA GLOBAL SERVICE views Money Laundering as a serious criminal
offence, and as such, complies with regulatory requirements intended to
forestall and prevent money laundering. These include:
- Verifying the identity of our customers, in addition requesting
from them a compromise to verify the identity of their direct clients.
The identity of any direct client of ENTELNOVA GLOBAL SERVICE will
be verified according to the regulation of the Monetary Authority of
Singapore.
- Retaining transaction and identification records for a minimum
period of five years.
- Training staff continuously in terms of anti-money laundering
regulations.
- Appointing compliance officer responsible for monitoring and
reporting any and all suspicious activities.
- Supervise and oversea that all transactions and information in the
system is correct and complies with all applicable laws.
Please note that ENTELNOVA GLOBAL SERVICE under aforementioned laws has
the right to refuse a transaction at any time should suspicion arise that
it may be connected to money laundering or any other criminal activity. In
addition, ENTELNOVA GLOBAL SERVICE will be obliged to report this
suspicious activity in order to comply with said regulations, and
internationally accepted laws and customs which also prohibits ENTELNOVA
GLOBAL SERVICE from disclosing this information.
Providing ENTELNOVA GLOBAL SERVICE with false identification or contact
details will be deem as a misuse of our terms of service. ENTELNOVA
GLOBAL SERVICE is legally bound to report such misdemeanors to the MAS
authorities, and as such you may be the subject to a criminal
investigation.
ENTELNOVA GLOBAL SERVICE will NOT do business with anyone suspected of,
or directly involved in Money Laundering, or where funds have been sourced
by any illegal activity.
By using any of our service, I
acknowledge that I have read & agree to all ENTELNOVA GLOBAL SERVICE's
Privacy Policy, Anti-Money Laundering Policy, understand and accept all
terms and conditions contain herein, specially I accept and understand
that ENTELNOVA GLOBAL SERVICE
is authorized to
finalize the contractual relationship with myself and/or the firm I
represent, lawfully and immediately, with no responsibility whatsoever, If
I violate any of the clauses of this privacy policy and/or regulations of
Monetary Authority of Singapore or any other applicable laws and regulations.
