AML Policy
AML Policy
Purpose of the AML Policy
BlockWave Innovations s.r.o. has internal guidelines to prevent the use of its business for money laundering and terrorist financing and internal guidelines for implementation of international sanctions.
To ensure full protection of our services, we have developed and enforced an internal AML Policy to cover all necessary measures. We are wholeheartedly dedicated to adhering to the AML requirements set forth by the Czech Republic's laws, as well as those outlined by the European Union and international guidelines.
Definition of AML Policy
An AML Policy comprises procedures and measures were developed to prevent money laundering, illegal activities, terrorist funding, or other criminal actions. The AML Policy includes the implementation of KYC measures. Procedures and methods intended to stop money laundering, illicit activity, terrorist financing, and other criminal acts are included in an AML policy. KYC measures are implemented as part of the AML Policy.
In the event of any suspicious conduct or strange consumer behavior, we take all required steps and report it to the appropriate unit. Our tem may ask for more details on the activities of the customer's account as part of this procedure, such as the Source of Funds/Source of Wealth (SOF/SOW) or any other document we deem necessary for the benefit of our clients.
The data collected is handled with care and all documents relating to customers' personal data are kept confidential and comply with personal data protection regulations.
BlockWave Innovations s.r.o. AML Policy includes:
– KYC involves identifying and verifying the customer before starting a financial relationship
– Given the risk-based strategy, we assess the degree of risk and use due investigation, including increased due diligence for clients – who exposes us to a higher risk
– Procedures for reporting suspicious activities internally and externally
– Procedure for identifying the subject of Sanctions and a transaction violating Sanctions
The above approach obliges us to refuse employment, block the account and completely terminate the relationship with the client in the event of suspicious activity, non-cooperation and manipulation of documents provided as part of the client due diligence process.
Purpose of the AML Policy
BlockWave Innovations s.r.o. has internal guidelines to prevent the use of its business for money laundering and terrorist financing and internal guidelines for implementation of international sanctions.
To ensure full protection of our services, we have developed and enforced an internal AML Policy to cover all necessary measures. We are wholeheartedly dedicated to adhering to the AML requirements set forth by the Czech Republic's laws, as well as those outlined by the European Union and international guidelines.
Definition of AML Policy
An AML Policy comprises procedures and measures were developed to prevent money laundering, illegal activities, terrorist funding, or other criminal actions. The AML Policy includes the implementation of KYC measures. Procedures and methods intended to stop money laundering, illicit activity, terrorist financing, and other criminal acts are included in an AML policy. KYC measures are implemented as part of the AML Policy.
In the event of any suspicious conduct or strange consumer behavior, we take all required steps and report it to the appropriate unit. Our tem may ask for more details on the activities of the customer's account as part of this procedure, such as the Source of Funds/Source of Wealth (SOF/SOW) or any other document we deem necessary for the benefit of our clients.
The data collected is handled with care and all documents relating to customers' personal data are kept confidential and comply with personal data protection regulations.
BlockWave Innovations s.r.o. AML Policy includes:
– KYC involves identifying and verifying the customer before starting a financial relationship
– Given the risk-based strategy, we assess the degree of risk and use due investigation, including increased due diligence for clients – who exposes us to a higher risk
– Procedures for reporting suspicious activities internally and externally
– Procedure for identifying the subject of Sanctions and a transaction violating Sanctions
The above approach obliges us to refuse employment, block the account and completely terminate the relationship with the client in the event of suspicious activity, non-cooperation and manipulation of documents provided as part of the client due diligence process.
API documentation
© 2024 Blockwave. All rights reserved.
API documentation
© 2024 Blockwave. All rights reserved.