Implementation Of The Policy Statement
AML – Overview
Anti Money Laundering Policy
Celanta One DMCC is committed in compliance to, and strict practice of all regulatory requirements including those related to Anti Money Laundering by UAE and other competent world bodies. We comply with the regulations of world bodies which collectively set and enforce standards for Anti-Money Laundering and Counter-Terrorist financing policies and programs such as FATF, UN, The EU, The Organization of American States – The office of Foreign Assets Control (OFAC) and the Local Regulatory Authorities such as Central Bank of the UAE.
In UAE, the Central Bank of the UAE or more specifically the Anti-Money Laundering and Suspicious Cases Unit (AMLSCU) of the Central Bank is the Regulatory body to DNFBPs is the Ministry of Economy requiring the institution of AML rules. Since 2001, the UAE Government (UAEG) has taken steps to better monitor cash flows through the UAE financial system and to cooperate with international efforts to combat terrorist financing. The UAE has enacted two laws that serve as the foundation for the country’s Anti Money Laundering (AML) and counterterrorist financing (CTF) active AML-CFT legislations such as the Federal Decree Law no. 20 of 2018 and the Cabinet Decision no. 10 of 2019. guidelines for how financial institutions are to monitor for money laundering activity.
Account Opening and Customer Identification
A proper system is in place for opening of new customer/supplier account. Without on-boarding the new customer/supplier in compliance with the set procedures, no transaction is entertained. ‘Know Your Customer / Customer Due Diligence procedures and guidelines’ are scrupulously adhered to before opening any new account. The compliance department go through the documents submitted by the parties before approving the same and the approval of compliance department is mandatory for account opening.
Establishment Of Ultimate Ownership
Ultimate beneficial ownership of corporates and other legal entities with whom we do transactions are established by of obtaining and verifying copies of trade licenses, company formation documents, export import licenses, passport copies and any other documents deemed necessary for this purpose.
Enhanced Due Deligence
Enhanced due diligence is conducted when transactions appear to be potentially suspicious. Concerned staff ensures to ask for additional identification documents or documentary proof in such cases.
Internal Reporting System
In case of suspicious transaction, such cases are reported on concurrent basis to the compliance officer as part of Celanta One DMCC internal reporting system. The Compliance officer in turn will conduct in-depth investigation, and take an appropriate action before reporting such transactions to the UAE Financial Intelligence Unit (UAE FIU) at the UAE Central Bank.
Record Keeping
All records including, customer’s identification documents and related data, transaction data, and any other related documents are maintained and retained for a minimum of five years.
Legal Disclaimer
Website Terms of Use
The following terms govern your access to and use of the website www.celantaone.com (the “Website”), which is operated by Celanta One DMCC. By using this Website, you acknowledge and agree to the following:
1. Intellectual Property Rights
All intellectual property rights, including but not limited to copyright, database rights, trademarks, registered designs, and design rights, in the content of this Website are owned by Celanta One DMCC and its licensors. You may download and print content from this Website solely for personal use or internal business purposes. Any other use, reproduction, modification, or redistribution of Website content is strictly prohibited without express written consent from Celanta One DMCC. Commercial exploitation of the Website content is not permitted under any circumstances.
2. Use of Website Content
The content provided on this Website is for general informational purposes only and should not be construed as legal advice, a representation, or an offer to enter into a contract. If you require specific advice or assistance, please contact us via the “Contact Us” links available on the Website. Reliance on any information on this Website is at your own risk.
3. Accuracy of Information
While Celanta One DMCC strives to ensure that the content on the Website is accurate, complete, and up-to-date, no warranties or representations are made regarding the accuracy, completeness, or timeliness of the content. Celanta One DMCC accepts no liability for any errors, omissions, or inaccuracies in the content or for any infringement of third-party rights that may result from the use of this Website.
4. Viruses and Malicious Software
Celanta One DMCC takes reasonable precautions to prevent the presence of viruses or other malicious software on the Website. However, Celanta One DMCC cannot guarantee that the Website will be free from such harmful components and accepts no liability for any damage caused as a result.
5. Website Operation
Information transmitted via this Website travels over public telecommunications networks. Celanta One DMCC does not guarantee that the Website will operate without interruptions or errors. Celanta One DMCC disclaims any liability for operational disruptions or errors.
6. Third-Party Links
This Website may contain links to external websites. Celanta One DMCC is not responsible for the content, privacy practices, or use of personal data by third-party websites. Linking to or from external sites is at your own risk.
7. Lawful Use
You agree to use the Website only for lawful purposes and in a manner that does not infringe upon the rights of others or restrict or inhibit their use and enjoyment of the Website.
8. Exclusion of Warranties
Except as expressly provided in these terms, all warranties, conditions, and other terms implied by law are excluded to the fullest extent permitted by law.
9. Severability
If any provision of these terms is found to be illegal, invalid, or unenforceable by a court of competent jurisdiction, the remaining provisions shall remain in full force and effect.
10. Governing Law
These terms of use are governed by and construed in accordance with the laws of the United Arab Emirates.
By continuing to use this Website, you confirm that you accept these terms of use. If you do not agree with these terms, you should cease using the Website immediately.
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