ANTI-MONEY LAUNDERING AND KNOW YOUR CUSTOMER POLICY
This policy is an integral part of the Terms of Services. When a customer of the company accepts the terms of the customer agreement, he automatically agrees with the AML and KYC policies. Terms not otherwise defined in this KYC Policy have the meanings defined by the Terms of Services.
1.1. The definitions used in this anti-fraud policy have the following meanings:
- Forbidden behavior - means any manifestation of illegal behavior, which includes fraud, corruption, money laundering, collusion, financing of terrorism and any other criminal behavior.
- Fraud - involves the use of fraudulent acts or words with the intention to pursue personal interests and harm the interests of customers and / or PLUTOX.
- Corruption - means offering, giving, receiving or soliciting, directly or indirectly, something valuable for inappropriate influence on the actions of the other party.
- Money laundering is a financial transaction scheme whose purpose is to hide the identity, source and destination of illegally received money.
- Collusion means an agreement between two or more parties aimed at achieving an improper goal, including improper influence on the actions of the other party.
- The financing of terrorism is the provision or collection of funds by any means, directly or indirectly, with the intention of using them or with the knowledge that they will be used in whole or in part to carry out any of the crimes against terrorism.
- Criminal behavior is a crime committed in any part of the world.
- Anti-Fraud Commissioner is a person authorized to monitor, prevent and investigate prohibited behavior and is responsible for the proper implementation of the Anti-Fraud Policy.
1.2. Terms not defined in this article and in the anti-fraud policy have the meanings specified in the Terms of Services.
- General Provisions
2.1. The purpose of the AML (Anti Money Laundering Policy) and KYC (know your customer) Policy guidelines is to prevent the use of criminal institutions for the intentional or unintentional use of payment institutions by criminal elements for money laundering.
2.2. These policies are implemented by complying with laws and requirements of national and international legislation through the introduction of a customer identification procedure.
2.3. According to this AML and KYC policy document, the name PLUTOX and the pronouns “we,” “us,” or “our” refers to PLUTOX, including, without limitation, its owners, directors, investors, employees, and other related parties. Depending on the context, PLUTOX may also refer to the services, products, website, content or other materials provided by PLUTOX.
- Legal Ground
3.1. The anti-money laundering regime is based on the norms of the following legislation: legislation of the Republic of Estonia and the European Union, FATF recommendations, which include but are not limited to the following regulatory acts:
- The Law of the Republic of Estonia “On the Prevention of the Legalization of Criminally Obtained Funds and the Financing of Terrorism” (Rahapesu ja terrorismi rahastamise tõkestamise seadus), which regulates and determines the procedure for the implementation and observance of various special measures procedures in order to prevent the legalization of proceeds of crime and the financing of terrorism, and also determines the range of subjects their duties, rights and responsibilities. The law reflects the requirements of European Union directives, which are adapted to Estonian regulatory enactments and supplemented by national regulations.
- Advisory Guidelines of Finantsinspektsioon “Organisational solutions and preventive measures for credit and financial institutions to take against money laundering and terrorist financing” 1.1-7/172 of the Management Board of Finantsinspektsioon of 26 November 2018.
- Supervision policy of Finantsinspektsioon for countering money laundering and terrorist financing.
- Directive (EC) 2015/849 of the European Parliament and of the Council of 20 May 2015 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing.
- International Convention for the Suppression of the Financing of Terrorism (1999).
- Forty FATF Recommendations.
- Other international documents regulating measures to prevent money laundering and terrorist financing.
3.2. Compliance with the PLUTOX AML and KYC policy will ensure compliance with all relevant legislation and regulations.
- KYC procedure
4.1. Procedures KYC policies apply to those customers who are suspected of committing illegal transactions. From such customers, we can request the following documents for personal identification:
- Identity documents (national and / or international passport, TIN);
- Documents confirming the physical address of the residence (telephone bill, a copy of the utility bill, a bank statement);
- Other documents, such as driving licenses, etc.
- Customer identification
5.1. To prevent any illegal activity, money laundering, terrorist financing, PLUTOX reserves the right to take the necessary measures, including customer identification, by monitoring suspicious customer activities. This refers to an activity that is suspected or has some signs of prohibited behavior, as indicated in the anti-money laundering policy and anti-fraud policy.
5.2. PLUTOX does not identify each customer as a whole, but nevertheless, the company checks those customers whose activities are suspicious or illegal. The company reserves the right to suspend the account associated with suspicious activities and ask the owner of such an account to undergo the AML and KYC procedure.
- Use, storage and protection of personal information
- Monitoring operations
7.1. PLUTOX will closely monitor all transactions of the customer, in case of suspicion of fraud or other illegal actions. If such an activity is detected, the customer must necessarily go through the KYC identity verification process. In case of refusal or ignoring the appeal, the Company reserves the right to freeze access to the account, until the resolution of disputes.
- Amendments and changes
8.1. AML and KYC policy may be amended or supplemented at any time, at the discretion of PLUTOX. The customer acknowledges and agrees that he must independently check and monitor all amendments and changes in our AML and KYC policy and become familiar with notifications of changes and / or additions to the current policy. If you do not accept the amended or amended AML and KYC policy, you should stop using the Service. Further use of the site and services of the company after changes in policy will be automatically regarded as acceptance of these changes.
- Anti-Fraud Policy
9.1. This anti-fraud policy is an integral part of the PLUTOX agreement, the essence of which is to prevent or partially contain fraud, corruption, collusion, money laundering, terrorist financing and other illegal activities in the activities of PLUTOX. The company is committed to high legal, ethical and moral standards. The public, partners of PLUTOX and Customers have the right to expect that we will implement a significant level of protection against any illegal activity. The implementation of the anti-fraud policy was in accordance with applicable local and international legislation.
- Fraud investigation
10.1. If a person is justified, the latter is directly or indirectly associated with terrorism, its financing, money laundering or fraud, PLUTOX reserves the right to thoroughly investigate a person using all legal methods and methods specified in the legislation and the contract.
10.2. The Fraud Commissioner is the first person to detect, investigate and defend against the prevention of prohibited conduct during the customer and transaction evaluation process.
10.3. In some cases, outside researchers may be involved in collecting sufficient evidence and transferring the case to the authorities. The Commissioner to combat fraud is fully responsible for managing third parties. Also, the anti-fraud commissioner is responsible for:
- Collection of any information relating to the alleged Prohibited Conduct, including information about Customers and certain transactions;
- Conclusion of your findings regarding this case and reporting them to the management of PLUTOX and the relevant authorities, as well as to any third party, if necessary.
10.4. The authorized person has the right to open, prosecute, close and report any investigation of the prohibited behavior within his competence without prior notice, consent or intervention from any other person or organization. All investigations will be conducted objectively and confidentially.
10.5. During the investigation, we reserve the right to block customer account, to ensure prompt and complete investigation procedures.
10.6. All customers under the existing contract are required to cooperate with the Commissioner as quickly and efficiently as possible, including providing relevant information and documentation if the above-mentioned person requests this.
10.7. All information and documents collected and created during the investigation of prohibited activities that are not yet in the public domain should be kept strictly confidential. The confidentiality of the information collected will be respected both in the interests of the persons concerned and in relation to the integrity of the investigation.
10.8. The anti-fraud commissioner should only disclose confidential information to individuals or companies who are authorized to receive it, if necessary, in order to conduct an investigation or assist in an investigation.
- Responsibility of the parties
11.1. The Commissioner for Combating Fraud has the primary responsibility for preventing, monitoring and investigating cases of prohibited conduct.
11.2. According to the above, the company reserves the right to perform the identification of any customer or transaction in accordance with the AML and KYC policy in order to identify evidence of prohibited conduct. Based on our anti-fraud policy, we are responsible for:
- Taking appropriate action against persons suspected of a crime or having committed a crime;
- Developing and maintaining effective internal controls to prevent prohibited behavior;
- Conducting operational investigations in case of detection of prohibited conduct or unlawful actions;
- Transmission of information about any suspicions regarding prohibited conduct to the relevant state authorities;
- Ensuring that the Anti-Fraud Commissioner reports on any internal or external suspicions and incidents involving illegal acts.
- Customer Statement
12.1. Based on all the above, you guarantee that using our service, you do not have the intention to perform any prohibited actions described above.
12.2. In addition, you agree to any checks in connection with an investigation under the Anti-Fraud Policy, and you agree to cooperate fully and promptly with an anti-fraud commissioner as part of the investigation if necessary.
- Changes and additions
13.1. This Policy may change. PLUTOX will notify you 1 (one) month before any change to this Policy is due to take effect. PLUTOX will do so by posting a notice of the changes on the website and by sending a notification e-mail to your e-mail address.
13.2. Any changes to this Policy will be effective after lapse of the 1 (one) month period after posting a notice on the website and notifying you by e-mail. If PLUTOX gives you notice and you do not tell PLUTOX that you wish to end the Terms of Services and to close your account, then your continued use of PLUTOX services will constitute acceptance of the changes to this Policy and PLUTOX will treat you as having accepted the changes.
13.3. If you have information about illegal activities or suspicious individuals, please contact our support team.