HSBC
http://kycaml.org/
1. PREAMBLE
KYC procedures enable the Company to know/understand their customers and their financial dealings better which in turn help them manage their risks prudently and prevent the Companys from being used, intentionally or unintentionally, by criminal elements for money laundering activities This policy has also been framed keeping in mind various guidelines and circulars issued by National Housing Bank from time to time. The policy has the following four key pillars:
(i) Customer Acceptance Policy;
(ii) Customer Identification Procedures;
(iii) Monitoring of Transactions; and
(iv) Risk management.
2. POLICY FUNDAMENTALS
Definition of customer
A Customer is:
A person or entity that maintains an account and/or has a business relationship with the India Shelter Finance Corporation Ltd.( essentially home loan customers )
One on whose behalf the account is maintained (i.e. the beneficial owner);
Beneficiaries of transactions conducted by professional intermediaries, such as Stock Brokers, Chartered Accountants, Solicitors, etc. as permitted under the law, and
Any person or entity connected with a financial transaction which can pose significant reputational or other risks to India Shelter Finance Corporation Ltd., say, a wire transfer or issue of a high value demand draft as a single transaction.
KYC guidelines will also be applicable to associates/agencies/intermediaries associated with India Shelter Finance Corporation Ltd. as follows:
(i) Empanelled lawyers,
(ii) Empanelled valuers
(iii) FI agencies
(iv) Builder
(v) Seller of property being financed by India Shelter Finance Corporation Ltd.
(vi) Direct Selling Agents/Direct selling team
(vii) Any other intermediary
The Company will collect legal name and entity/Identity proof, permanent address proof as per Annexure I for various types of associates/agencies/intermediaries captioned above.
In the formulation of this policy, as suggested by NHB’s
1. PREAMBLE
KYC procedures enable the Company to know/understand their customers and their financial dealings better which in turn help them manage their risks prudently and prevent the Companys from being used, intentionally or unintentionally, by criminal elements for money laundering activities This policy has also been framed keeping in mind various guidelines and circulars issued by National Housing Bank from time to time. The policy has the following four key pillars:
(i) Customer Acceptance Policy;
(ii) Customer Identification Procedures;
(iii) Monitoring of Transactions; and
(iv) Risk management.
2. POLICY FUNDAMENTALS
Definition of customer
A Customer is:
A person or entity that maintains an account and/or has a business relationship with the India Shelter Finance Corporation Ltd.( essentially home loan customers )
One on whose behalf the account is maintained (i.e. the beneficial owner);
Beneficiaries of transactions conducted by professional intermediaries, such as Stock Brokers, Chartered Accountants, Solicitors, etc. as permitted under the law, and
Any person or entity connected with a financial transaction which can pose significant reputational or other risks to India Shelter Finance Corporation Ltd., say, a wire transfer or issue of a high value demand draft as a single transaction.
KYC guidelines will also be applicable to associates/agencies/intermediaries associated with India Shelter Finance Corporation Ltd. as follows:
(i) Empanelled lawyers,
(ii) Empanelled valuers
(iii) FI agencies
(iv) Builder
(v) Seller of property being financed by India Shelter Finance Corporation Ltd.
(vi) Direct Selling Agents/Direct selling team
(vii) Any other intermediary
The Company will collect legal name and entity/Identity proof, permanent address proof as per Annexure I for various types of associates/agencies/intermediaries captioned above.
In the formulation of this policy, as suggested by NHB’s