Commitment to Preventing Fraud and Financial Crime

Bsquared Technology Pte Ltd (“B2”) is dedicated to ensuring that our products and services are not exploited for criminal activities. Our Fraud Prevention and Anti-Financial Crime Framework establishes the risk management and control measures necessary to detect, analyse, investigate, report, and mitigate financial crime risks in compliance with the regulations and other guidelines set forth by the Monetary Authority of Singapore (“MAS”).

In line with our dedication to compliance and our licensing obligations, we are legally required to understand the identities of those we do business with and the nature of the transactions we engage in.

Key Components of Our Framework

1. Risk Assessment: We conduct annual assessments to evaluate the financial crime risks associated with our customers, the jurisdictions we operate in, the transactions we process, and the products and services we offer.
2. Risk-Based Customer Due Diligence: Our KYC procedures incorporate enhanced due diligence for higher-risk customers, ensuring rigorous verification processes to comply with MAS guidelines.

3. Transaction Monitoring: We continuously monitor customer transactions for indicators of financial crime, enabling us to detect, investigate, and report suspicious activities to the appropriate regulatory and law enforcement bodies.

4. Preventing Suspect Payments: We implement measures to block transactions that may involve criminal activity and will exit relationships with customers identified as presenting financial crime risks.

5. Record Retention: We maintain comprehensive records related to customer relationships and transactions to support compliance efforts and regulatory obligations.

6. Independent Testing: Regular independent testing of our fraud prevention and anti-financial crime measures ensures their effectiveness and compliance with MAS standards.

7. Mandatory Training: All employees undergo mandatory financial crime prevention training, with additional tailored training for specific teams based on their roles and responsibilities.

Legal and Regulatory Compliance

In line with our legal obligations and Fraud Prevention and Anti-Financial Crime Framework, we reserve the right to reject transactions, freeze assets, or refuse services based on identified risks. Our framework may impose stricter requirements than those mandated by law, and we evaluate customer relationships on a case-by-case basis.

Anti-Money Laundering and Terrorist Financing

Our framework explicitly prohibits onboarding customers that pose significant money laundering, terrorist financing, or proliferation financing risks. This includes entities listed for terrorism-related reasons. We also prohibit the use of anonymous accounts and payable-through accounts.

Sanctions and Export Controls

B2 adheres to strict sanctions and export controls, prohibiting relationships or transactions involving sanctioned individuals or entities. Any transactions that may fall under these prohibitions will be evaluated case-by-case.

Bribery and Corruption

Our framework mandates adherence to Anti-Bribery and Corruption ("AB&C") principles, requiring that all activities:

• Be conducted without intent to bribe or corrupt.
• Be reasonable and transparent.
• Not be lavish or disproportionate to the business relationship.
• Be documented with a clear business rationale.
• Obtain appropriate senior-level authorisation.

Tax Evasion and Facilitation

We recognise the complexities of our global customer base and implement a risk-based approach to manage tax evasion risks. Our program includes:

• Tailored due diligence and monitoring processes to comply with international regulations.
• Risk assessments for third-party engagements related to tax evasion facilitation.

Fraud Prevention

Our framework includes stringent controls to prevent our services from being used for fraudulent activities. We prohibit processing transactions known or suspected to be fraudulent and terminate relationships with individuals or entities involved in such activities. Our approach balances effective fraud prevention with a seamless customer experience.

Risk Management

B2 is committed to continuously enhancing its risk management policies, strategies, and supporting frameworks. We recognise that risk is an inherent aspect of our business operations and are dedicated to managing it proactively and effectively. Our goal is to foster a robust risk culture throughout the organisation, emphasising the importance of risk awareness and accountability at all levels.

Disclaimer

B2 prioritises your security and privacy. We will never send unsolicited messages or request your credentials. Please remain vigilant and report any suspicious communications via our Support & Complaints team.