This document is issued by Bharat Sky Limited ("Bharat Sky", "we", "us", "our"), Company No. 236998, licensed by the Financial Services Commission of Mauritius as an Investment Dealer (Full Service Dealer, excluding Underwriting), Licence No. GB26206475.
How Bharat Sky prevents money laundering, terrorist financing and financial crime, and what that means for you as a client or partner.
1. Purpose
Bharat Sky Limited is committed to preventing its services from being used for money laundering, terrorist financing or any other financial crime. This policy summarises the measures we apply in line with the Financial Intelligence and Anti-Money Laundering Act 2002 of Mauritius, the FSC's AML/CFT Handbook, and international standards set by the Financial Action Task Force.
2. Customer due diligence
Before activating an account we verify every client's identity and address. We require:
- a valid government-issued photo identity document (passport, national identity card or driving licence);
- proof of residential address dated within the last three months (utility bill, bank statement or government correspondence);
- a live selfie or video verification where requested;
- information on your occupation, source of funds and source of wealth.
For corporate clients we also verify the company's registration, directors, and ultimate beneficial owners holding 25% or more.
3. Enhanced due diligence
We apply enhanced measures where the risk is higher, including for politically exposed persons and their associates, clients from higher-risk jurisdictions, clients with complex ownership structures, and where deposit activity is inconsistent with the profile provided. This may include additional documentation, verification of source of wealth, and senior management approval.
4. Sanctions and screening
All clients and partners are screened against international sanctions lists, including those of the United Nations, the European Union, the United Kingdom and the United States, and against politically exposed person and adverse media databases, both at onboarding and on an ongoing basis. We do not accept clients from the restricted jurisdictions listed on our website.
5. Ongoing monitoring
We monitor account activity, deposits and withdrawals for patterns that are unusual for the client's profile. Unusual activity may result in requests for further information, delays to withdrawals, or account restriction while a review is completed.
6. Deposits and withdrawals
We accept deposits only from accounts and cards in the client's own name. Third-party payments are refused and returned. Withdrawals are returned to the original funding source where possible. We do not accept cash. Accounts used only to pass funds through without trading may be closed and reported.
7. Reporting
Where we know or suspect that funds are connected to criminal activity, we are required by law to file a suspicious transaction report with the Financial Intelligence Unit of Mauritius. We are prohibited from informing the client that a report has been made.
8. Record keeping
We retain identity documents, transaction records and correspondence for at least seven years after the end of the business relationship, in line with Mauritius law.
9. Introducing Brokers
Partners in our IB Programme are subject to due diligence before appointment and are prohibited from handling client funds. Partners must comply with applicable AML laws and report any suspicion to us promptly.
10. Training and governance
Our staff receive AML/CFT training on joining and at least annually. We have appointed a Money Laundering Reporting Officer and a Deputy, and our framework is reviewed at least annually by senior management, as required by the conditions of our licence.