AML\KYC Policy
AML and KYC Policy
This Anti-Money Laundering and Know Your Customer Policy (hereinafter, the AML/KYC Policy) is intended to prohibit the use of the services for Money Laundering and Terrorist Financing, as well as avoiding or breaking economic sanctions. Please read our AML and KYC Policy carefully before using our website and services. You should read and understand it before using the services because this AML and KYC Policy is one of the documents that allow the right and safe use of the services. Our AML and KYC Policy is designed to guarantee compliance with all relevant legislation and rules and will be reviewed and modified regularly for regulatory changes and modifications.
If provided with a legitimate official request, the may share the information obtained as a result of the AML and KYC procedure with the legal authorities. The Company will never enter into an agreement with an individual or entity that is suspected of or directly involved in money laundering, or whose funds are derived from illegal activities.
All translators must provide the with all necessary documentation, including identity and address proofs, as well as any additional documentation that may be required.
All participants in the transactions are required to give the AML Compliance Officer:
Identity Proof (Passport, Driving License);
Address Proof (Passport, Electricity Bill, Bank Account Statement, Gas Bill, Lease agreement along with last 3 months, rent receipt, etc.)
Customers Who Provide Insufficient or Suspicious Information
-A customer presents unusual or dubious identification that is difficult to verify;
-The customer’s residential or commercial phone is disconnected;
-Based on the customer’s business activities, the background is different from what would be anticipated.
The AML Officer has to check the sources below to confirm the information provided is accurate or to determine the missing information for the customer in addition to the information and documentation supplied by or on behalf of the customer or obtained from third parties (where applicable):
· Use of World-Check services;
· Checking the lists of individuals, organizations, and entities subject to financial sanctions imposed by the EU or the UN;
· Open (public) registers.
Recordkeeping
The methods used, the findings of the verification and the handling of any discrepancies found during the verification process will all be included in the documentation of the verification.
To effectively control the risk of money laundering and terrorist financing, the translators’ actions will be continuously monitored.
The following are the criteria for identifying suspicious or high-risk transactions:
1. The translator refuses to give the information needed to prove the identity, hides identity, or provides documents that raise questions about authenticity, etc.
2. The translator is difficult to get in touch with and does not reply to emails, making it difficult to obtain the information or documents needed for identification.
3. The translator declines to disclose information about the source of the funds used in the transaction.
4. The translator constantly connects to the TOR network using IP addresses from various locations.
5. The translator appears to reside in a high-risk regions
Keep in mind that internationally sanctioned individuals, groups, or nations are not permitted to do business with the Company.
Sanctioned countries list:
Afghanistan, American Samoa, Angola, Bahamas, Botswana, Belarus, Burundi, Cambodia, Central African Republic, Chad, Congo, Cuba, Democratic Republic of Congo, Equatorial Guinea, Eritrea, Ethiopia, Ghana, Guam, Guinea Bissau, Iran, Iraq, North Korea, Lebanon, Libya, Mali, Nigeria, Pakistan, Panama, Puerto Rico, Russia, Samoa, Saudi Arabia, Sierra Leone, Somalia, South Sudan, Sri Lanka, Sudan, Syria, Trinidad and Tobago, Tunisia, Venezuela, Yemen, Zimbabwe, some states of the USA.
Contact Us
Whenever you have any questions or suspicions feel free to contact us via info@wordsmanager.com.