Anti-money laundering policy

Webllet Service Limited “Webllet” is hereby states its determination of preventing money laundering as well as financing of terrorism (both of them are collectively referred to as ‘money laundering’ below) once again, which will be explicitly written down below.

Money laundering means ‘the act of disguising and faking crime proceeds for the purpose of disguising illegal origin’, and financing of terrorism denotes ‘the act of providing terrorists with the funds necessary to carry out terrorist actions’.

Neglecting money laundering will lead to letting crime proceeds to be used for future criminal activities, and, further to causing criminal organisations to exert influence on legal economic activities. Thus prevention of money laundering becomes an important domestic and international agenda. Moreover, money laundering has recently been becoming more internationalized, sophisticated and complicated, which strongly calls for international cooperation for prevention.

Webllet actively supports import and export as well as overseas business expansion of its clients, the Bank strongly acknowledges the importance of anti-money laundering measures, establishes the following internal management system and conducts its business operations.

1. Organisational structure

The Board of Directors of the Webllet, which is the highest decision-making body, is positioning the establishment of anti-money laundering system as the top management issue and is closely involved in it.

The Board of Directors establishes the policy, standards and operational guidelines for preventing money laundering. Further, the Board forms a function for preventing money laundering and appoint the personnel in charge, who is continuously collecting information on money laundering, dealing with any related issues to money laundering, and reporting regularly and when needed.

2. Operation policy

Webllet clarifies the roles that its employees are playing with regard to preventing money laundering, and establishes a risk control system which enables appropriate measures to be exercised on a timely basis.

3. Identification

Webllet enhances its internal system in order to carry out appropriate measures on a timely basis with regard to identification.

4. SAR (Suspicious Activity Report)

Webllet promptly reports ‘suspicious activity’ that are reported by its branches and are detected through monitoring transactions to the authorities.

5. Managing the correspondent banks

Webllet strives to collect sufficient information regarding its overseas correspondent banks, and implements its anti-money laundering measures regularly or where appropriate.

6. Training its directors and employees

Webllet periodically provides all the director and employee-oriented training and AML officer-oriented external training, and aims at knowledge acquisition of anti-money laundering, and improvement in awareness.

7. Internal auditing of compliance

Webllet conducts audit of compliance status of anti-money laundering measures by independent auditors, and strives to further improve its internal system, taking the outcome of the audit into consideration.

Document History

June 20th, 2018 Enached
Notice of system maintenance.

- 2018/07/19
Because of system maintenance, the member page may become unstable at the following date and time.
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System maintenance date and time:
6th August 2018 Monday 12:00 AM - 3:00 PM

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We have not campaign this time.