GoldenHive is committed to preventing money laundering and terrorist financing in accordance with the Central Bank of the United States regulations and international best practices in Anti-Money Laundering (AML) & Counter Terrorist Financing (CTF). To this effect, we are fully geared to detect suspicious activities associated with money laundering, fraud, terrorist financing & financing of illicit organizations, and report them to the Central Bank, as per the regulations. We at GoldenHive are dedicated to conducting business securely, with integrity, and in compliance with all applicable laws and regulations.
We have therefore implemented robust AML and compliance practices in all our branches. Our state-of-the-art information technology infrastructure and AML solutions enable us to be fully compliant at all times.
GoldenHive is fully committed to adhering to the laws and regulations which reflect the relevant recommendations issued by the Financial Action Task Force (FATF) and the Basel Statement of Principles on preventing the utilization of the banking system for criminal purposes, issued by the Basel Committee.
GoldenHive is also determined to constantly evaluate and uphold its AML policies, procedures, and controls on an ongoing basis by ensuring befitting internal and external audit programs.
GoldenHive adheres to the four pillars of an effective AML program:
In our CDD process, we obtain relevant details of every customer to ensure that the transactions they perform are in line with their profile or business activities. Our focus has always been to ensure the legitimacy of the source of funds and the purpose of transactions.
EDD includes additional measures beyond CDD to know more about the customer, their source of funds, and to verify that transactions are within their means. It aims to confirm the legitimacy of funds and rule out any criminal proceeds, using authentic supporting documents. GoldenHive adopts a risk-based approach and performs EDD compulsorily on all high-risk accounts.
To ensure compliance with applicable sanctions, GoldenHive has an automated system to screen customer names against lists issued by:
All transaction participants are screened to ensure compliance with sanctions obligations.
GoldenHive conducts ongoing transaction monitoring to detect unusual or suspicious activity based on customer profiles. Front-line agents serve as the first line of defense and can escalate any anomalies internally. This is complemented by second-line reviews and increased monitoring where needed.
All staff are trained to report suspicious activities through internal channels to the compliance officer. The officer investigates and, if necessary, reports to the Financial Intelligence Unit (FIU) at the Central Bank.
At GoldenHive, we believe in empowering employees at all levels. Effective AML training ensures strong governance throughout the organization.
All records, including customer identification, transaction data, and supporting documents, are retained for at least five years, as required by Central Bank regulations. GoldenHive ensures full confidentiality of customer data and transaction history.
The compliance and AML function is regularly reviewed by Internal Audit, Central Bank examiners, and independent external auditors. This guarantees that the program stays current and compliant with all regulatory standards.
For any inquiries regarding this policy, you can contact:
GoldenHive (Kommanditbolag)
Attn: Tomas Blomqvist, ECIT Advisory AB,
Grev Turegatan 14 3 ½ tr, 114 46 STOCKHOLM
Email: contact@goldenhive.io