AML/CFT

Anti-Money Laundering (‘AML’)
Counter-Financing Terrorism (‘CFT’)

Velevetformula lda. (hereafter referred to as “Velevetformula”, “we”, “us”) recognizes that financial crimes have an adverse effect on the integrity of the financial services marketplace.

To detect and prevent money laundering and terrorist financing, Velevetformula has implemented an “AML Framework” that defines the rules and principles to be respected in order to comply with applicable AML/CFT laws and regulations. The Framework includes but is not limited to:

  • roles and responsibilities;
  • the appointment of a Money Laundering Reporting Officer (‘MLRO’);
  • the provision of appropriate management information and reporting to senior management;
  • enterprise and customer risk assessments;
  • the requirements for the different phases of the AML/CFT process, including the obligation to identify and verify new clients, the screening against sanctions lists, the constant vigilance of existing clients, the obligation to report suspicious activity, and if necessary, the termination of the contractual relationship;
  • the rules for conducting enhanced due diligence (“EDD”) on customers assessed as higher risk, such as Politically Exposed Persons (“PEPs”) in senior positions, their relatives and close associates;
  • the mandate for training and awareness.

The Framework is regularly refined and strengthened to address evolving risks and threats.

Velevetformula will actively prevent and take measures to guard against being used to facilitate financial crime.

We value our reputation as a trustworthy financial partner, and therefore do not enter into relationships with organizations engaged in, or suspected of, illegal or unethical activities.

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Misha Alefirenko

Founder and CEO