Income obtained through illegal or criminal methods under the guise of legitimate activity is considered as money laundering. Launderers usually process money in 3 steps. (1) Placement: It refers to the physical disposal of bulk cash proceeds derived from illegal activity. (2) Layering: This term refers to the separation of illicit proceeds from their source by creating complex layers of financial transactions. Layering conceals the audit trail and provides anonymity. (3) Integration: It refers to the re-injection of the laundered proceeds back into the economy in such a way that they re-enter the financial system as normal business funds. The American Government requests all financial organizations and recommended brokers to be aware of such activities, including those of prompt business sales/transactions. Suspicious customer account activities and misrepresentation of the origin of funds, can possibly be associated with money laundering behaviors. To prevent and take measure of this, reporting of such suspicious activity to the appropriate authorities is a must.

ASA GLOBAL does not tolerate money laundering behaviors and supports the anti-money laundering campaign. This provision follows the U.S. legislation “USA PATRIOT ACT”. ASA GLOBAL has instituted the following measures to prevent money-laundering: 1) Familiarize ourselves with current money laundering behaviors and procedures, including illegal drug sales & finance illegal act. Funds obtained from crimes associated with illegal drugs include its manufacture, import, sale or the sale on commission of prohibited drugs, shall be characterized as illegal/criminal in nature.

An example of an illegal finance action, is when the victim, assignee, consignor, or the court executive officer goes into hiding from the creditor, along with the capital assets, under the guise of a bankruptcy procedure. In this procedure of bankruptcy, they deliberately violate the stipulation stated in the Bankruptcy law, making false shift behaviors.

1) Customer Acceptance Policy;
2) Customer Identification Procedures;
3) Monitoring of Transactions; and
4) Risk management.
5) ASA GLOBAL will closely monitor all of its past/present customer transactions.