Client onboarding, transaction review and record keeping follow a documented framework aligned with FATF Recommendations and applicable Indonesian anti-money laundering legislation.
Risk assessment, policies, controls, training and independent review.
Identification and verification of the client and of persons acting on its behalf.
Additional measures where higher risk indicators are identified.
Individual client identification, verification and profiling.
Corporate structure, ownership and control verification.
Identification of natural persons ultimately owning or controlling the client.
Identification, senior approval and enhanced monitoring.
Screening against applicable designation lists at onboarding and periodically.
Establishing the origin of funds used in the specific transaction.
Establishing the origin of the client's overall wealth.
Review of transactions against the client's expected profile.
Retention of onboarding and transaction records for the prescribed period.