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Legal Notice

Together to success!

License-free activities

Rock Springs Capital Partners LLC is a Wyoming registered advisory and management firm.

Rock Springs Capital Partners LLC primarily advises legal entities from various industries with a focus on optimizing their structures and optimizing profits.

Rock Spring Capital Partners LLC does not manage and invest funds and assets of third parties, but only invests and manages its own funds and assets, including on a joint venture basis.

Rock Spring Capital Partners LLC does not have and does not require a banking and/or financial license.

 

Anti-money laundering (AML)?

Rock Springs Capital Partners LLC Anti-Money Laundering (AML) refers to the web of laws, regulations and procedures aimed at detecting attempts to disguise illicit funds as legitimate income. Money laundering seeks to cover up crimes ranging from petty tax evasion and drug trafficking to public corruption and funding groups designated as terrorist organizations.

AML legislation was a response to the growth of the financial industry, the lifting of international capital controls, and the increasing ease of conducting complex chains of financial transactions.

 

What is anti-money laundering?

Understanding Anti-Money Laundering (AML)

AML regulations in the U.S. have expanded from the Bank Secrecy Act of 1970's requirement that banks report cash deposits of more than $10,000 to a complex regulatory framework that requires financial institutions to screen customers with due diligence and to seek and report suspicious transactions. The European Union and other jurisdictions have taken similar measures.

 

Know your customer (KYC)

For Rock Springs Capital Partners LLC, as well as for banks, compliance begins with verifying the identity of new customers, a process sometimes referred to as Know Your Customer (KYC). In addition to establishing the client's identity, banks need to understand the nature of a client's activities and verify that deposited funds come from a legitimate source.

The KYC process requires us to screen new customers against lists of suspects, individuals and companies subject to economic sanctions, and "politically exposed individuals" – foreign officials, their family members, and close associates.

 

Client Due Diligence

Customer due diligence is an essential part of the KYC process, for example by ensuring that the information provided by a potential customer is accurate and legitimate. But it's also an ongoing process that extends to old and new customers and their transactions.

Client due diligence requires an ongoing assessment of the money laundering risk posed by each client and the use of this risk-based approach to conduct more accurate due diligence for those identified as higher non-compliance risks. This includes identifying customers when they are added to sanctions and other AML lists.

 

According to the U.S. Treasury's Financial Crimes Enforcement Network, the four core requirements of client due diligence in the U.S. are:

  •      Identification and verification of the customer's identity

  •      Identification and verification of the identity of beneficial owners with a 25% or more interest in a company  opening an account.

  •      Understanding the nature and purpose of client relationships to develop client risk profiles

  •      Conduct ongoing monitoring to identify and report suspicious transactions and update customer information

  •  

Client Due Diligence

Customer due diligence is an essential part of the KYC process, for example by ensuring that the information provided by a potential customer is accurate and legitimate. But it's also an ongoing process that extends to old and new customers and their transactions.

Client due diligence requires an ongoing assessment of the money laundering risk posed by each client and the use of this risk-based approach to conduct more accurate due diligence for those identified as higher non-compliance risks. This includes identifying customers when they are added to sanctions and other AML lists.

 

According to the U.S. Treasury's Financial Crimes Enforcement Network, the  four core requirements of client due diligence in the U.S. are:

  •      Identification and verification of the customer's identity

  •      Identification and verification of the identity of beneficial owners with a 25% or more interest in a company opening an account

  •      Understanding the nature and purpose of client relationships to develop client risk profiles

  •      Conduct ongoing monitoring to identify and report suspicious transactions and update customer information 

 

Our client due diligence aims to uncover money laundering strategies, including layering and structuring, also known as "smurfing" – splitting large money laundering transactions into smaller ones to circumvent reporting limits and evade scrutiny.

 

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