Money laundering refers to the conversion into seemingly legitimate fund and investment from the capital or other valuables obtained from illegal activities, such as terrorist incidents, drug trafficking, illicit arms deal, embezzlement and human trafficking, etc. The origin of the concerned capital or other valuables becomes untraceable through such anti-money laundering activity. To prevent criminal capital from infiltrating into domestic economy and suppress expansion of terrorist activities, countries all over the world are taking the initiative in coping with money laundering and terrorist organizations' capital activities. In view of convenience and promptness, financial institutions are given preference by money laundering criminals in their legitimatization of illicit funds. With the rapid development of financial market integration and capital circulation liberalization, criminals' infiltration into capital market turns out to be an easier access.To support relative international institutions in the suppression of illegal activities, such as money laundering and fund procurement for terrorist activities, we train our staffs based upon internally formulated rules and regulations as follows.
1. We collect and verify information and data about clients' identity, then record and investigate all clients' transaction history.
2. We conduct investigation into clients' transactions under suspicion or nonstandard conditions.
3. Under no circumstances do we operate cash deposit or cash refund.
4. In case that our clients' current transactions are under suspicion of money laundering or other crimes, we own the right to suspend disposition of transactions regardless of the rate of progress at Creative Idea HK Limited's discretion. Complying with international law, we shall report the suspicious transactions to the associated authorities without prior notice.
Complying strictly with the newly released rules and regulations, we upgrade our electronic system at regular intervals so as to investigate suspicious transactions and verify clients' identity. Besides, we train our staffs at full stretch so that anti-money laundering workflow formulated in our new rules and regulations can achieve consolidation.