Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) Policy

Mitr Phol Sugar Corporation and subsidiary companies realize the importance of having in place Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) Policy controls to protect the organization from becoming involved in money laundering and / or financing of terrorism activities. Mitr Phol People (including directors, management and employees) are required to strictly comply with the policy in line with good corporate governance and business code of conduct. The following rules apply:

1.    The company Board of Directors is responsible for establishing Anti-Money Laundering and Combating the Financing of Terrorism Policy in line with international as well as local laws and principles. 

2.    Mitr Phol People are required to comply with AML / CFT laws, rules, and regulations applicable in Thailand and countries in which Mitr Phol Group operates its business. They are also required to adhere to international principles, as well as applicable measures, policies, and guidelines. 

3.    Mitr Phol People must assess risks and establish appropriate controls to manage such risks. They must also ensure accurate and transparent financial and asset reporting. Relevant departments must be educated about anti-money laundering and combating the financing of terrorism to prevent the organization from becoming involved in such activities and to protect the company’s data from being used for such activities. 

4.    When dealing with customers, suppliers or other companies, Mitr Phol People must exercise caution and perform due diligence about the customers or suppliers in order to understand their background, objectives and way of doing business, as well as the sources of their financing or assets. This is to eradicate any reasonable doubt and prevent the company from becoming involved in money laundering and financing of terrorism activities. They must not transfer funds to an unknown account and refuse to accept any abnormal fund transfers from an unverified or irrelevant source. 

5.    Mitr Phol People must refrain from removing, covering up or distorting the true source of funds. They must not transfer or acquire rights over assets that violate anti-money laundering and combating the financing of terrorism laws, or be involved or supportive of the aforementioned activities. 

6.    Mitr Phol People must cooperate with officers or relevant departments carrying out AML/ CFT activities in Thailand and internationally. 

7.    It is the responsibility of Mitr Phol People to keep an eye on, provide information about, and report any suspicious actions or transactions to their line managers or relevant officers.