Project:Sandbox

= Background =

Purpose
The purpose of this framework is to provide an excellent experience to Treasury Money Market’s (TMM) customers and intermediaries, while complying with ME’s policies and regulatory AML/CTF obligations.

This framework sets out the TMMs controls which mitigate key business risks including money laundering and terrorism financing (ML/TF). For each control, this framework also sets out the quality assurance (QA) tests (where applicable) that will be undertaken.

Results from assurance testing will: Assist TMM to comply with ME’s policies; Assist TMM to comply MEs Anti Money Laundering and Terrorism Financing (AML/CTF) program, specifically: Customer identification and verification obligations; Ongoing customer due diligence (OCDD) obligations, including: Transaction monitoring; and Enhanced Customer Due Diligence (ECDD).   Form part of performance partnering discussions for TMM staff; Assist with performance measurement for TMM staff;</li> Determine if additional AML/CTF training is required for TMM staff; and</li> Determine if the risk rating of the broker / intermediary needs modifying, which dictates the frequency of KYC assurance.</li> </ol>