KYC / AML Policies for Famos Trustee’s Website

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Famos Trustee Limited, as a Labuan Managed Trust Company, is committed to full compliance with the Labuan Financial Services and Securities Act 2010 (LFSSA), the Labuan Trusts Act 1996, and all relevant AML/CFT regulations issued by the Labuan Financial Services Authority (LFSA). The objective of our AML/CFT policies is to mitigate risks associated with money laundering and terrorist financing while maintaining transparency and regulatory compliance.

Definition of Money Laundering

Money laundering is the process of disguising the origins of illicit funds to make them appear legitimate. The key stages include:

• Placement: Illegally obtained funds enter the financial system through deposits, purchases, or transfers.• Layering: The money is moved between multiple accounts or investments to obscure its origin.• Integration: The laundered funds are reintegrated into the economy as legitimate assets.

Famos Trustee Limited adheres to strict AML principles and ensures that no services are misused for money laundering, terrorist financing, or other illicit activities.

Company Compliance Procedures

As a Labuan Managed Trust, Famos Trustee Limited complies with AML/CFT obligations through:

• Know Your Customer (KYC) and Due Diligence (CDD)

• Transaction Monitoring & Suspicious Activity Reporting

• Record-Keeping & Risk Assessments

• Annual Internal and External Audits

Client Onboarding & Risk Categorization

Low-Risk Clients

• Individuals with verifiable sources of income and standard financial transactions.• Clients engaging in legal and corporate structuring without financial transactions.

Medium-Risk Clients

• Clients with complex business structures, international transactions, or operations in industries with moderate AML risks.• Subject to enhanced due diligence (EDD) measures.

High-Risk Clients

• Non-residents, high-net-worth individuals (HNWIs), trusts, charities, PEPs, and clients from high-risk jurisdictions.• Subject to stringent monitoring, additional verification, and regulatory reporting.

KYC Requirements

For Individual Clients

Each client must provide:

• A Valid passport (showing the first page of the local or international passport, where the photo and signature are clearly visible); or• National identity card (showing the front and back);• Driving license with photograph; or• Proof of residential address (utility bill or bank statement, etc.) containing the client's full name and place of residence. These documents should not be older than 3 months from the filing date.

For Corporate Clients

Companies must provide:

• Certificate of Incorporation & Memorandum & Articles of Association.• Certificate of Good Standing & Board Resolution for Account Opening.• Identification of Directors, Beneficial Owners, and Authorized Signatories.

Transaction Monitoring & Reporting

Famos Trustee Limited monitors transactions for irregularities and flags high-risk activities. Indicators of suspicious transactions include:

• Unusual transaction patterns inconsistent with a client’s profile.• Large or structured cash transactions without a legitimate purpose.• Transactions involving high-risk jurisdictions.

If a suspicious transaction is identified, a Suspicious Transaction Report (STR) is filed with Bank Negara Malaysia (BNM) as per LFSA guidelines.

Record-Keeping & Compliance Audits

• All client and transaction records are retained for a minimum of 7 years for regulatory compliance.• Annual internal and external compliance audits are conducted as required by LFSA & BNM.• Employees undergo AML/CFT training to remain updated on regulatory changes.

Enforcement Actions for Non-Compliance

If Famos Trustee Limited detects non-compliant activities, the following actions may be taken:

• Suspension or termination of the client’s account.• Immediate reporting to LFSA and Bank Negara Malaysia.• Regulatory enforcement measures, including account freezes or legal action.

Contact Information

For inquiries regarding AML/CFT compliance, please contact:

Famos Trustee Limited

Office Suite 1315, Level 13(C), 

Block 4, Financial Park Complex Labuan, 

Jalan Merdeka, 87000 Labuan F.T, Malaysia

inquiry@famostrustee.com.