1. General provisions
In its daily work with clients, our company is obliged to implement AML/CFT measures, as defined in:
- 40 Recommendations of Financial Action Task Force
- Money Laundering and Terrorist Financing Prevention Act of the Republic of Estonia
As main tools implementing AML/CFT Policy we use following:
1.Risk based approach.
We use a risk-based approach when starting any business relationship with clients, as well as conducting transactions and deals. For the purposes of identification, assessment and analysis of risks of money laundering and terrorist financing related to activities of clients, our company prepared an internal risk assessment, taking account of the results of the National risks assessment and at least the risk categories mentioned in EU and national AML/CFT legislation.
As a result of the risk assessment our company established:
- internal control rules used to manage and mitigate the identified risks.
-principles and indicators for monitoring a business relationship established in economic, professional or official activities.
2. Know Your Customer Policy.
2.1. The policy of “Know Your Customer” (KYC Policy below) is an integral and inalienable part of the Customer Agreement.
2.2. KYC Policy eWalletex LTD OU (the Company) establishes the general principles of customer identification.
2.3. The objective of KYC policies is to establish requirements for the conduct of the Company activities aimed at the identification and analysis of the customer, prior to their adoption for service to the Company, as well as during maintenance, in order to prevent the adoption and maintenance of persons engaged in activities related to the legalization of proceeds from crime, terrorist financing, which could lead rise to reputational, financial and legal risks for the Company."
2.4. KYC Policy is designed in accordance with international legislation on the prevention of criminal activities, money laundering and financing of terrorism.
2.5. KYC Policy applies to both before the Client service (at the time of registration on the Company’s website), and in the process of customer service.
2.6. KYC Policy sets out the minimum standards that the Company is required to comply in accordance with international requirements.
3. Application Policies “Know Your Customer”:
3.1. One of the main implementation of KYC procedures for Politicians is the procedure of customer identification.
3.2."customer identification procedure is performed by the Company in the following circumstances: prior to the Customer service to the Company (at the time of the passage of the client registration procedures at the Company’s website):
- - At the time of passing the personal data verification procedures by the Customer;
- - At the time of the procedure of verification of payment details Client;
- - At the time of processing the application for withdrawal of funds in the Customer’s billing information;
- - In case of suspicion of the implementation of the Customer’s activities related to terrorist financing or money laundering of criminal proceeds;
- - In the event of doubt as to the authenticity and relevance of previously obtained identification data of the Client;
- As part of scheduled and unscheduled updates to the Client’s own payment details or personal data.
3.3. Our company applies enhanced due diligence measures in order to adequately manage and mitigate a higher-than-usual risk of money laundering and terrorist financing
4. Client Identification
Customers are required to provide relevant identification information and notify the Company of the change of contact or personal information within 10 (ten) calendar days from the date of change.
Identifying customers involves specify the following information.
- 1. Email verification
- 2. Mobile phone verification
- 3. A copy of the first page of the passport and second document
- 4. A selfie of the Client with the card in the right hand
Each document must be a separate file. All documents should be easily readable, and each file size should not exceed 5 MB (megabytes).
If you have any questions you can contact our support team by e-mail: firstname.lastname@example.org
Company details: eWalletex LTD OÜ registrated with number 14561558 and registered address is Harju maakond, Tallinn, Kesklinna linnaosa, Jõe tn 9-ruum 8, 10151 , Estonia