Anti Money Laundering
HERDEM has procedures set to identify anti money laundering attempts and take appropriate actions if such violations or indicators are encountered in compliance with the Financial Action Task Force ("FATF") guidelines and other applicable legislation.
Client Due Diligence (CDD)
Documents identifying or authorizing a natural person to conduct transactions on behalf of a legal person are required as part of client due diligence process. We also require the identification of the beneficial owner in any matter to take reasonable steps to understand the layers of ownership and control of legal persons. Measures for enhanced CDD for sensitive countries, sensitive business and higher risk clients, are largely defined in our practice.
Risk Management of “PEP”
HERDEM has substantial risk management team to determine whether the client is a politically exposed person (“PEP”) and takes reasonable measures to established the source of wealth and source of funds for a PEP, and conduct enhanced ongoing monitoring of the business relationship with a PEP.