FinTech Legal Center has developed written policies documenting the processes that we have in place to prevent, detect and report suspicious transactions.
FinTech Legal Center has implemented systems for the identification of its customers. We perform a risk-focused assessment of our customer base. We determine the appropriate level of enhanced due diligence necessary for those categories of customers and transactions that we have reason to believe pose a heightened risk of illicit activities. Know Your Customer (KYC) Information is collected from the beginning of the business relationship with the client. We have appropriate record retention procedures that exceed the requirements of the applicable law.
We have policies covering relationships with politically exposed persons consistent with industry best practices.
We screen our customer against lists issued by government/international bodies (e.g., OFAC, UN Security Council, European Union) prior to onboarding a new client.
FinTech Legal Center provides AML/CTF training to all employees that includes identification and reporting of transactions that must be reported to government authorities, examples of different forms of money laundering involving our services and internal policies to prevent money laundering. We have policies to communicate new AML-related laws or changes to all employees.