AML & Ethics Policy
AMATHUBA AI — AML & ETHICS POLICY
- Introduction
Amathuba AI (“the Company”) is committed to conducting business with integrity, transparency, and in full compliance with all applicable laws and regulations. This AntiMoney Laundering (AML) & Ethics Policy outlines our standards for ethical behaviour, responsible business practices, and the prevention of money laundering, fraud, corruption, and other unlawful activities.
This policy applies to all employees, contractors, partners, and thirdparty service providers.
- Purpose of the Policy
The purpose of this policy is to:
- Prevent the use of Amathuba AI’s services for money laundering or illicit activities
- Promote ethical conduct across all business operations
- Ensure compliance with South African laws, including FICA, POCA, and POPIA
- Protect the Company’s reputation and stakeholders
- Establish clear expectations for behaviour and decisionmaking
- Definitions
Money Laundering: The process of disguising the origins of illegally obtained funds.
Terrorist Financing: Providing funds or support to individuals or groups involved in terrorism.
Ethics: Standards of moral conduct guiding behaviour and decisionmaking.
Due Diligence: Verification of client identity and legitimacy before providing services.
- AML Compliance Requirements
4.1 Customer Due Diligence (CDD)
Amathuba AI will verify the identity of all clients and partners before entering into a business relationship. This may include:
- Full name and contact details
- Company registration documents
- Proof of address
- Verification of beneficial ownership
- Risk assessment of the client’s business activities
4.2 Enhanced Due Diligence (EDD)
EDD will be applied when dealing with:
- Highrisk clients
- Politically Exposed Persons (PEPs)
- Clients from highrisk jurisdictions
- Unusual or suspicious transactions
4.3 Monitoring & Reporting
The Company will monitor transactions and client activity for suspicious behaviour.
Any suspicious activity will be reported to the relevant authorities in accordance with South African law.
- Ethical Conduct Standards
5.1 Integrity & Honesty
Employees must act honestly, fairly, and transparently in all business dealings.
5.2 Conflict of Interest
Employees must avoid situations where personal interests conflict with the Company’s interests. Any potential conflict must be disclosed immediately.
5.3 AntiBribery & AntiCorruption
Amathuba AI has zero tolerance for bribery, kickbacks, or any form of corruption.
Employees may not offer, accept, or solicit anything of value to influence business decisions.
5.4 Confidentiality
All client information must be handled with strict confidentiality and in compliance with POPIA.
5.5 Responsible Use of AI & Technology
The Company is committed to ethical AI development and usage, including:
- Transparency in AIdriven decisions
- Avoiding harmful or discriminatory outcomes
- Ensuring data privacy and security
- Using AI responsibly and lawfully
- Employee Responsibilities
All employees must:
- Understand and comply with this policy
- Complete AML and ethics training when required
- Report suspicious or unethical behaviour
- Maintain accurate records and documentation
- Reporting Misconduct
Employees and stakeholders may report concerns confidentially to:
Compliance Officer
Email: [Insert Email]
Phone: [Insert Phone Number]
Reports will be investigated promptly and fairly. Retaliation against whistleblowers is strictly prohibited.
- Consequences ofNonCompliance
Failure to comply with this policy may result in:
- Disciplinary action
- Termination of employment or contract
- Legal action
- Reporting to regulatory authorities
- Policy Review
This policy will be reviewed annually or when required by changes in legislation or business operations.
- Contact Information
For questions regarding this policy, please contact us: