CalienteOption policy and its affiliates (hereinafter “the Company“) is set to prohibit and actively pursue money laundering and any activity related to money laundering or terrorist financing or criminal activity. The company requires its officers, employees and affiliates to adhere to these standards to prevent the use of their products and services for money laundering.
- For the purposes of politics, money laundering is generally defined as actions designed to conceal or disguise the true origin of income derived from criminal activities in order to show up the illegal incomes are derived from legitimate origins or constitute legitimate assets activities.
- Money laundering generally consists of three stages. At first, in the stage called “placement”, the money goes into the financial system so that money received as a result of criminal activity becomes monetary tools, such as money transfers, travelers checks or placement of these into accounts of financial institutions. Then in step “differentiation” the incomes are transferred to other accounts or other financial institutions to create more distancing between the money and its criminal origin. At the stage of “integration” the funds return to the economy and are used to purchase property, business or finance criminal activities. Terrorist financing can not be referred to as criminal behavior, but as an attempt to hide the origin or destination of the funds, which will later be used for criminal purposes.
- Each employee of the Company, whose commitments are related to providing products and services of the Company and that directly or indirectly relates to the customers of the company, aware of the requirements of laws and terms that affect his positions and each employee scrupulously fulfill these commitments.
To ensure that this policy is carried out, the Company has established and maintains an ongoing program in order to ensure compliance with relevant laws and regulations as well as the prevention of money laundering. This program coordinates the specific regulatory requirements throughout the group within a consolidated order to manage effectively across all business units and legal entities the group risk exposure of money laundering and terrorist financing framework.
All identification documentation and services must be kept for the minimum period required by local law.