This summary outlines LWorld Venture Sdn Bhd‘s approach to Anti-Money Laundering (AML), Counter-Terrorism Financing (CTF), and related financial crime risk management. It is provided for transparency and informational purposes only and does not disclose internal controls that could compromise security or regulatory effectiveness.
LWorld‘s AML/CTF framework is designed to comply with applicable Malaysian laws and regulations, and to align with internationally recognised standards, including risk-based approaches promoted by global financial crime prevention bodies.
LWorld applies a risk-based approach to AML/CTF. Clients, counterparties, transactions, products, and jurisdictions are assessed based on their inherent risk profile. Enhanced due diligence measures are applied where higher risks are identified.
LWorld conducts appropriate due diligence on clients and counterparties prior to entering into a business relationship. This includes identity verification, beneficial ownership assessment where applicable, and an understanding of the nature and purpose of the relationship. Ongoing monitoring is conducted to ensure transactions remain consistent with the client‘s profile and the expected use of services.
Ongoing monitoring is conducted to ensure transactions remain consistent with the client‘s profile and the expected use of services.
Clients and counterparties are screened against applicable sanctions lists and relevant watchlists. Where potential matches or concerns are identified, appropriate escalation, review, and mitigation actions are undertaken in accordance with internal procedures.
Transactions are subject to monitoring to identify unusual or suspicious patterns. Monitoring is conducted in a manner proportionate to the nature, size, and complexity of the transaction, with escalation protocols in place where concerns arise.
Records relating to client due diligence and transactions are maintained in accordance with legal and regulatory requirements. Access to sensitive information is restricted and managed under strict confidentiality controls.
AML/CTF controls are integrated with LWorld‘s responsible sourcing practices to reduce exposure to illicit supply chains, conflict-affected materials, and unethical practices within the precious metals ecosystem.
AML/CTF oversight is embedded within LWorld‘s governance structure. Policies and procedures are reviewed periodically to reflect regulatory developments, industry expectations, and evolving risk factors.