Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) Policies and Principles

Money laundering and terrorist financing are recognized as significant threats to OKS Group Limited and the global financial services community.UK, alongside other nations, has implemented robust legislation to combat these threats effectively.

Legal and Regulatory Framework

Our Company’s financial crime systems and controls are based on the following principal requirements, obligations, and penalties:

  • The Proceeds of Crime Act 2002 (POCA), as amended by:
    • The Serious Organised Crime and Police Act 2005 (SOCPA).
    • The Proceeds of Crime Act (Amendment) Regulations 2007.
  • The Terrorism Act 2000, as amended by:
    • The Anti-Terrorism, Crime & Security Act 2001.
    • The Terrorism Act (Amendment) Regulations 2007.
    • The Terrorism Act 2006.
  • The Bribery Act 2010.
  • The Money Laundering Regulations 2007, aligning with the EU’s Third Money Laundering Directive.
  • The FCA Handbook of Rules and Guidance, particularly the Senior Management Arrangements, Systems, and Controls (SYSC) sourcebook.
  • The Joint Money Laundering Steering Group (JMLSG) guidance for the UK financial sector to prevent money laundering and combat terrorist financing.

Our Company’s Policies and Principles

OKS Group Limited upholds the following policies:

  1. Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) Policies.
  2. Training Initiatives.
  3. Anti-Bribery and Anti-Corruption Policy.

These policies ensure full compliance with UK legal and regulatory requirements and with applicable local obligations.

Anti-Money Laundering (AML) Policy

Our AML policy is designed to ensure adherence to all relevant UK legislation, regulations, and industry guidance for mitigating financial crime risks. This includes:

  • Implementing risk-based customer due diligence (CDD) and Know Your Customer (KYC) procedures, including enhanced due diligence for high-risk customers such as Politically Exposed Persons (PEPs).
  • Establishing and maintaining risk-based systems to monitor customer activity.
  • Reporting suspicious activities to the appropriate law enforcement authorities.
  • Retaining appropriate records for the minimum prescribed periods.
  • Conducting regular training and awareness programs for employees.
  • Providing detailed management information and compliance reporting to senior management.

Training

All employees undergo training on AML and CTF policies annually, with advanced training provided to those in roles involving significant financial risks. Non-compliance with these policies may result in disciplinary action, including dismissal.

Anti-Bribery and Anti-Corruption Policy

OKS Group Limited has a zero-tolerance policy toward bribery and corruption. These practices:

  • Undermine democratic processes and free trade.
  • Distort competition.
  • Are linked to organized crime, money laundering, and terrorism financing.

Our commitment to integrity and ethical business practices is reinforced by adherence to:

  • The UK Bribery Act 2010.
  • The US Foreign Corrupt Practices Act.
  • Relevant anti-bribery laws in local jurisdictions.

Governance and Oversight

Regular reviews of these policies' effectiveness are conducted through periodic audits by our internal audit function. These reviews provide senior executive management, oversight committees, and the Board Audit Committee with assurance regarding the operating effectiveness of the company’s controls.

Last Updated: January 2025