AML & CFT Policy

ANTI-MONEY LAUNDERING (AML) & COUNTER-TERRORISM FINANCING (CFT) POLICY

This policy outlines the commitment of our organization to prevent money laundering and the financing of terrorism. We are dedicated to maintaining the highest standards of integrity and complying with all applicable laws and regulations.

This Policy represents the basic standards of Anti-Money Laundering policy of Malya Jewel Craft, Jaipur.

Definitions & Procedures Money Laundering

Money laundering is a generic term used to describe any process that conceals the origin or derivation of the proceeds of crime so that the proceeds appear to be derived from a legitimate source.

Money laundering is sometimes wrongly regarded as an activity that is associated only with organized crime and drug trafficking. It is not. It occurs whenever any person deals with another person’s direct or indirect benefit from crime.

Money laundering is a crime that is most often associated with banking and money remittance services. Whilst banks are often an essential part of successful laundering schemes, the financial and related services that Licensees offer are also vulnerable to abuse by money launderers.

Additional Due Diligence measures for financial institutions

We are undertaking following additional due diligence measures while establishing and maintaining correspondent relationships:

• Obtainingsufficient information about a respondent company to avoid any relationships with “shell-banks”;
• Determiningfrom publicly available sources of information the reputation of a respondent company including whether it has been subject to a money laundering or terrorist financing investigation or other regulatory action;
• Assessingthe respondent institution’s anti-money laundering and terrorist financing controls on a periodic basis.

Goals and objectives

The main purpose of the Policy is to establish the essential standards designed to prevent the money laundering activities. Other objectives pursued by this Policy are as follows:

• We are Promoting a “Know Your Customer” policy as a cornerstone principle for the business ethics and practices;
• Conductingself-assessments of compliance with AML policy and 

Adherence to this policy is absolutely fundamental for ensuring fully comply with applicable antimony laundering legislation.

The company will not have any relationship with any shell banks.

The company is committed to examining its anti-money laundering strategies, goals and objectives on an ongoing basis and maintaining an effective AML Policy.

Monitoring and reporting of suspicious transactions/activity

All personnel must be diligent in monitoring for any unusual and potentially suspicious transactions/activity basing on the relevant criteria applicable in the national or international jurisdiction.

The reporting of suspicious transactions/activity must comply with the international laws/regulations

Record keeping

Records shall be kept of all documents obtained for the purpose of identification and all transaction data as well as other information related to money laundering matters in accordance with the applicable anti-money laundering laws/regulations of the country; All records must be kept for at least 5 years;

Training

Training on anti-money laundering & CFT will be provided to those new employees who work directly with customers and to those employees who work in other areas that may be exposed to money laundering and terrorist financing threats which includes;

Grievance Mechanism: -

Malya Jewel Craft, Jaipur has established this grievance procedure to hear concerns about circumstances of the money laundering or CFT matters.

Related Concerns can be raised by interested parties via email or telephone to:

Mr. Rishi Sharma himself is responsible for implementing and reviewing this procedure.

Email: - malyajewelcraft@gmail.com

Policy Review

This policy will be reviewed periodically (Annually) and updated as necessary to ensure its continued relevance and effectiveness in upholding human rights.

Policy Endorsed by

[Rishi Sharma]

[Proprietor] 

[Malya Jewel Craft]

[Effective Date: - 02/01/2026]