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Money Laundering. The expression “money laundering” covers a wide range of activities and processes with the sole aim to obscure the source of illegally and ill-gotten gain that is structured to create the appearance or illusion that funds are derived from a legitimate source(s). Therefore, directors, officers, employees, authorized agents, and authorized representatives are required to consider the sufficiency of domestic legislation to address the risks of money laundering. For that fact the Directors require that officers, employees, agents, and authorized representatives, such as market intermediaries have in place policies and procedures duly designed to identify and thereby minimize the risk of the use of an intermediary, institution or a vehicle that may be in cahoots with money launderers.
