Bakaal Worldwide. (hereafter referred to as the Company) declares to all employees, staff members, customers and all interested parties its total commitment to adhere to and abide by all Anti-Money Laundering and Counter-Terrorism Financing rules and regulations in Australia.
The Company recognizes the need to have a well-trained staff, knowledgeable in all AML/CTF regulations. As part of its AML/CTF Program, the Company has a written Compliance Manual and an Internal Policies and Procedures Manual to inform and guide its agents and employees along with an Internal Policies and Procedures Manual for their staff.
Our commitment is to comply with the Anti-Money Laundering and Counter-Terrorism Financing Act, by properly and promptly reporting International Funds Transfer Instruction (IFTI), Suspicious Matter Report (SMR), and Threshold Transaction Report (TTR). In addition, we have strict policies related to signing new Agents (Know Your Agent), new Correspondents (Know Your Correspondents) and processing our transactions (Know Your Customers).
OUr technological platform has the capability of detecting possible structured transactions and is able to produce various periodic reports to aid the Compliance officer in detecting and reporting possible suspicious transactions.
Bakaal Worldwide adopted the AML/CTF compliance program from 12 Dec 2008