Anti-money Laundering Act

For anyone who operates or intend to open a stock bokerage account with Heartbeat Investment Limited, the information below dictates the money laundering act which is binding upon you as the account owner.

The Money Laundering (Prohibition) Act 2022 requires all financial and nonfinancial institutions to obtain, verify, and record information that identifies the person who opens an account. In this regard, when you open an account with us at HEARBEAT, we will ask for your name, address, means of identification, occupation, and other information that will enable us to identify you and verify your identity on an ongoing basis.

Further to the Money Laundering (Prohibition) Act 2022, any single transaction, lodgment or transfer of funds in excess of N5,000,000.00 or its equivalent in the case of an individual or N10,000,000.00 or its equivalent in the case of a corporate body, and suspicious transactions shall be reported in writing within seven (7) days and (24) hours respectively to the Nigerian Financial Intelligence Unit (NFIU) and the Securities &
Exchange Commission (as applicable).