Anti-Money Laundering (AML) Policy

Money laundering is defined as the process where the identity of the proceeds of crime are so disguised that it gives the appearance of legitimate income. Criminals specifically target financial services firms through which they attempt to launder criminal proceeds without the firm's knowledge or suspicions.

The Dasset AML Policy is designed to prevent money laundering by having adequate systems and controls in place to mitigate the risk of Dasset being used to facilitate financial crime. Dasset is bound by New Zealand law to take steps to ensure that it is not involved in the facilitation of money laundering or terrorism financing.

Various AML measures are in place to articulate our commitment to detecting, preventing, and reporting attempts to use our financial services platform to illegally launder money, to finance illegal activities, such as terrorism and drug trafficking, or to commit fraud.

The following is a list of some of these measures:

  • The appointment of an Anti-Money Laundering Compliance Officer who has sufficient level of seniority and independence and who has responsibility for oversight of compliance with relevant legislation, regulations, rules, and industry guidance;
  • All clients must undergo a verification check to confirm identity before being allowed to trade;
  • Legal tender withdrawals can only be made to a bank account held in the same name as the Dasset account;
  • Legal tender deposits can only be accepted from a bank account held in the same name as the Dasset account;
  • Dasset reports any suspicious activity to the relevant authorities.