Credence Capital (PTY) LTD , operating under the name chili-markets.com, is a company registered in South Africa. The company is committed to maintaining high ethical and professional standards. To support this, it has implemented an Anti- Money Laundering (AML) framework designed to identify, prevent, and reduce risks related to non-compliance with AML regulations.
Credence Capital (Pty) Ltd is committed to maintaining the highest standards of integrity, transparency, and regulatory compliance. This Anti-Money Laundering (AML) Policy outlines the measures implemented to prevent, detect, and mitigate risks associated with money laundering, terrorist financing, and proliferation financing.
The company operates in accordance with applicable South African legislation, including the Financial Intelligence Centre Act (FICA), and applies a risk-based approach to its compliance framework.
Credence Capital applies a risk-based approach to identify, assess, and manage financial crime risks. Clients and business relationships are evaluated and categorised as low, medium, or high risk based on factors including:
Enhanced controls are applied where higher risks are identified.
Credence Capital conducts Customer Due Diligence prior to establishing any business relationship. This includes:
The company may refuse to onboard or continue relationships where sufficient information cannot be obtained.
Enhanced Due Diligence measures are applied to higher-risk clients, including but not limited to:
These measures may include verification of source of funds, source of wealth, and increased monitoring of transactions.
All clients are screened against applicable international sanctions lists and databases, including United Nations sanctions lists, as well as politically exposed person (PEP) and adverse media screening tools.
Credence Capital does not establish or maintain business relationships with sanctioned individuals or entities.
Credence Capital conducts ongoing monitoring of client activity to identify unusual or suspicious transactions. This includes reviewing transaction patterns and ensuring alignment with the client’s known profile and expected behaviour.
Credence Capital complies with its legal obligations to report suspicious and unusual activities to the Financial Intelligence Centre (FIC) in accordance with FICA.
All reporting is conducted confidentially, and the company adheres strictly to anti-tipping-off provisions.
Credence Capital maintains records of client identification, transactions, and due diligence processes for a minimum period as required by law. These records are securely stored and made available to regulatory authorities when required.
The AML framework is overseen by the appointed compliance function within Credence Capital. The company is committed to ongoing review and enhancement of its AML controls to ensure continued alignment with regulatory requirements and industry best practices.
Credence Capital maintains a zero-tolerance approach to financial crime and is committed to operating in a compliant, transparent, and responsible manner at all times.
Chillimarkets.com owned and operated by Credence Capital (PTY) LTD REG NO:2023/630034/07, License No. 53882
