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Money laundering is the process of disguising illegally obtained money so
that funds appear to come from legitimate sources or activities. Money
laundering occurs in connection with a wide variety of crimes, inter alia
terrorism, illegal arms sales, drug trafficking, and public office corruption.
Silverdale is committed to comply with all applicable laws for prevention of
money laundering and terrorist funding.
To this end, we undertake education and training of our employees to enable
effective prevention and detection of such activities and have adopted policies
and procedures to prevent money laundering.
Our anti-money laundering business practices include:
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Appointment of a Money Laundering Reporting Officer
(MLRO) to act as the focal point for all matters relating to money laundering.
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Detailed Due Diligence procedures with special attention for
politically exposed persons and other high risk entities.
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Strict “Know Your Customer” standards and checks.
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Continuous training of Silverdale employees to enhance their understanding of
anti-money laundering procedures, to enable them to know their responsibilities,
and to ensure effective reporting of any suspicious or high risk activity.
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