ANTI-MONEY LAUNDERING, BRIBERY AND CORRUPTION
RITE’s integrated anti-money laundering (“AML”), know your customer (“KYC”) and chain of custody (“COC”) policies, procedures and internal controls are designed to ensure compliance with all applicable statutes, regulations and rules and are reviewed and updated on a regular basis. RITE employs on-boarding procedures to insure its understanding of the nature, scope, motivation and provenance of those with whom it engages. RITE’s Management regularly reviews RITE’s policies, procedures and internal controls with professional international audit, taxation and legal counsel to ensure their ongoing efficacy. Further, RITE submits to external periodic independent audit of its compliance regimen. RITE’s Management is vested with responsibility for enforcement and, as such, a working knowledge of the OECD Chain of Custody Policies, LBMA and World Gold Council Protocols as well as familiarity with related statutory regimes including but not limited to: The Foreign Corrupt Practices Act; The Drug Trafficking Offenses Act 1986, The Criminal Act 1988, the Prevention of Terrorism (Temporary Provisions) Act 1989, The Criminal Justice (International Co-operation) Act 1990, The Criminal Justice Act 1993, the Money Laundering Regulations 1993 as amended. Accordingly, RITE complies with law enforcement requests for information as well as all validly issued orders of courts of competent jurisdiction. Moreover, if RITE uncovers suspicious activity during its own risk assessment and review, RITE will elevate that risk assessment in compliance with relevant statutory regimes.
Monitoring, Zero-tolerance, Training & Records: RITE monitors the provenance of all precious metals transiting any phase of its intermediation services to ensure compliance. RITE is committed to a zero-tolerance approach to money laundering, bribery and corruption and will: (i) conduct all business dealings and relationships in a fair, honest, and ethical manner; (ii) adhere to all applicable national and international laws and regulations relevant to countering money laundering, bribery and corruption; (iii) implement and enforce effective systems to counter the risk of money laundering, bribery and corruption; and (iv) prohibit the use of its businesses and services for money laundering, bribery, corruption or other illegal activities conducted through commercial transactions. If a potential or existing counter-party either refuses to provide the information requested, or appears to have intentionally provided misleading information, RITE will terminate engagement with that entity or individual. RITE maintains AML, KYC and COC documentation regarding each counter-party and transaction. RITE maintains ongoing employee training under the leadership of a designated Compliance Officer. RITE’s training is based on its policies, procedures and internal controls as well as applicable statutes and regulations. RITE’s training addresses: (i) identification of red flags; (ii) action upon risk identification, (iii) employees’ roles in compliance efforts; (iv) record retention; and (v) disciplinary consequences of non-compliance.
CHAIN OF CUSTODY
RITE participates in the worldwide effort to ensure that precious metals come from legitimate and ethical sources. Toward this end, RITE cooperates with both law enforcement and its supply chain industry transportation, insurance, banking and refining counter-parties as well as industry organizations such as the OECD, LBMA and World Gold Council.
To ensure that the precious metals have not been associated with criminal or terrorist activity, human rights abuse or armed conflict, RITE implements its COC policy through a comprehensive set of management systems and procedures. These procedures implement the general standards of business conduct set forth above, as well as setting forth internal compliance standards that comport with applicable statutes and regulations. RITE’s procedures govern not only RITE’s internal corporate conduct and culture, they also govern RITE’s inateraction with counter-parties and government agencies. These procedures penultimately find voice in rigorous contractual negotiations and clearly drafted agreements with all of RITE’s counter-parties that both drive compliance and clearly set forth the consequences of non-compliance.
Chain of Custody Documentation: RITE maintains internal subject matter experts as well as specialized external legal professionals for international regulatory, corporate, tax, and litigation matters. RITE counter-parties engage RITE services and infrastructure exclusively through written agreements. It is through the integrated AML, KYC and COC procedures mandated by these agreements that RITE’s compliance regimen is both enforced and documented.
Legal, Compliance & Logistical Coordination: All RITE purchase, sale, intermediation, transport and or finance agreements with counter-parties are subjected to both legal and compliance risk evaluation. Accordingly, RITE counter-party agreements routinely incorporate and attach documents as required, including but not limited to: (i) mining licenses; (ii) mining inspection reports and compliance certifications, (iii) export licenses; (iv) certifications of payment of taxes and duties; (v) declarations of ethical standards, (vi) principal and signatory passports, (vii) insurance coverage, (viii) industry accepted refinery assay or hallmark certifications and (ix) engagement of secure transport.
SAFE HARBOR STATEMENT
This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of MineralRite Corporation, its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond MineralRite Corporation’s ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is and will be included in MineralRite's filings with OTC Markets and the Securities and Exchange Commission.
ANTI-MONEY LAUNDERING, BRIBERY AND CORRUPTION
RITE’s integrated anti-money laundering (“AML”), know your customer (“KYC”) and chain of custody (“COC”) policies, procedures and internal controls are designed to ensure compliance with all applicable statutes, regulations and rules and are reviewed and updated on a regular basis. RITE employs on-boarding procedures to insure its understanding of the nature, scope, motivation and provenance of those with whom it engages. RITE’s Management regularly reviews RITE’s policies, procedures and internal controls with professional international audit, taxation and legal counsel to ensure their ongoing efficacy. Further, RITE submits to external periodic independent audit of its compliance regimen. RITE’s Management is vested with responsibility for enforcement and, as such, a working knowledge of the OECD Chain of Custody Policies, LBMA and World Gold Council Protocols as well as familiarity with related statutory regimes including but not limited to: The Foreign Corrupt Practices Act; The Drug Trafficking Offenses Act 1986, The Criminal Act 1988, the Prevention of Terrorism (Temporary Provisions) Act 1989, The Criminal Justice (International Co-operation) Act 1990, The Criminal Justice Act 1993, the Money Laundering Regulations 1993 as amended. Accordingly, RITE complies with law enforcement requests for information as well as all validly issued orders of courts of competent jurisdiction. Moreover, if RITE uncovers suspicious activity during its own risk assessment and review, we will elevate that risk assessment in compliance with relevant statutory regimes.
Monitoring, Zero-tolerance, Training & Records: RITE monitors the provenance of all precious metals transiting any phase of its intermediation services to ensure compliance. RITE is committed to a zero-tolerance approach to money laundering, bribery and corruption and will: (i) conduct all business dealings and relationships in a fair, honest, and ethical manner; (ii) adhere to all applicable national and international laws and regulations relevant to countering money laundering, bribery and corruption; (iii) implement and enforce effective systems to counter the risk of money laundering, bribery and corruption; and (iv) prohibit the use of its businesses and services for money laundering, bribery, corruption or other illegal activities conducted through commercial transactions. If a potential or existing counter-party either refuses to provide the information requested, or appears to have intentionally provided misleading information, RITE will terminate engagement with that entity or individual. RITE maintains AML, KYC and COC documentation regarding each counter-party and transaction. RITE maintains ongoing employee training under the leadership of a designated Compliance Officer. RITE’s training is based on its policies, procedures and internal controls as well as applicable statutes and regulations. RITE’s training addresses: (i) identification of red flags; (ii) action upon risk identification, (iii) employees’ roles in compliance efforts; (iv) record retention; and (v) disciplinary consequences of non-compliance.
CHAIN OF CUSTODY
RITE participates in the worldwide effort to ensure that precious metals come from legitimate and ethical sources. Toward this end, RITE cooperates with both law enforcement and its supply chain industry transportation, insurance, banking and refining counter-parties as well as industry organizations such as the OECD, LBMA and World Gold Council.
To ensure that the precious metals have not been associated with criminal or terrorist activity, human rights abuse or armed conflict, RITE implements its COC policy through a comprehensive set of management systems and procedures. These procedures implement the general standards of business conduct set forth above, as well as setting forth internal compliance standards that comport with applicable statutes and regulations. RITE’s procedures govern not only RITE’s internal corporate conduct and culture, they also govern RITE’s inateraction with counter-parties and government agencies. These procedures penultimately find voice in rigorous contractual negotiations and clearly drafted agreements with all of RITE’s counter-parties that both drive compliance and clearly set forth the consequences of non-compliance.
Chain of Custody Documentation: RITE maintains internal subject matter experts as well as specialized external legal professionals for international regulatory, corporate, tax, and litigation matters. RITE counter-parties engage RITE services and infrastructure exclusively through written agreements. It is through the integrated AML, KYC and COC procedures mandated by these agreements that RITE’s compliance regimen is both enforced and documented.
Legal, Compliance & Logistical Coordination: All RITE purchase, sale, intermediation, transport and or finance agreements with counter-parties are subjected to both legal and compliance risk evaluation. Accordingly, RITE counter-party agreements routinely incorporate and attach documents as required, including but not limited to: (i) mining licenses; (ii) mining inspection reports and compliance certifications, (ii) export licenses; (iii) certifications of payment of taxes and duties; (iv) declarations of ethical standards, (v) principal and signatory passports, (vi) insurance coverage, (vii) industry accepted refinery assay or hallmark certifications and (viii) engagement of secure transport.
SAFE HARBOR STATEMENT
This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of MineralRite Corporation, its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond MineralRite Corporation’s ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is and will be included in MineralRite's filings with OTC Markets and the Securities and Exchange Commission.