AML Policy

Flume Trading Ltd is committed to conducting its business in full compliance with all applicable UK anti-money laundering (AML) and counter-terrorist financing (CTF) laws and regulations, including the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, as amended.

Although Flume Trading Ltd does not accept or make cash payments, and therefore is not required to register as a High Value Dealer (HVD) with HMRC, the company recognises that the gold trade is a high-risk sector for money laundering and terrorist financing. As such, Flume Trading Ltd has implemented appropriate internal policies and procedures to mitigate these risks.

Policy Commitments

Flume Trading Ltd will:

• Conduct appropriate Customer Due Diligence (CDD) on all clients and counterparties, including identification, verification, and beneficial ownership checks.

• Apply Enhanced Due Diligence (EDD) where necessary, particularly for high-risk customers, jurisdictions, or complex transactions.

• Ensure all transactions are conducted via bank transfers only, with no cash payments accepted or made.

• Screen all counterparties against applicable sanctions lists (UK, EU, UN, OFAC) before conducting business.

• Maintain accurate records of all due diligence and transaction information for a minimum of five years.

• File Suspicious Activity Reports (SARs) with the National Crime Agency (NCA) if any suspicion of money laundering or terrorist financing arises.

• Review and update AML procedures periodically to reflect changes in regulations or business activities.

MLRO Appointment

Flume Trading Ltd has appointed a Money Laundering Reporting Officer (MLRO) to oversee the company’s anti-money laundering (AML) compliance. The MLRO is responsible for ensuring Flume meets all AML obligations, reporting any suspicious activity to the National Crime Agency (NCA), and acting as the main point of contact with relevant authorities.

To know more, please get in touch via our contact page