Policy Statement
No KYC Card is committed to preventing money laundering, terrorist financing, and other financial crimes through our Services. This Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) policy outlines our commitment to detect and prevent illicit activities, comply with applicable laws and regulations, and maintain the integrity of the global financial system.
Regulatory Framework
Our AML/CTF program is designed to comply with applicable laws and regulations, including the Bank Secrecy Act, USA PATRIOT Act, EU Anti-Money Laundering Directives, and Financial Action Task Force (FATF) recommendations. We are registered with relevant financial intelligence units and regulatory bodies in the jurisdictions where we operate.
Know Your Customer (KYC)
We implement a risk-based KYC program that includes: Customer identification and verification using reliable, independent source documents; beneficial ownership identification for corporate accounts; enhanced due diligence for high-risk customers and transactions; ongoing monitoring of customer relationships; and periodic review and update of customer information.
Transaction Monitoring
We employ automated transaction monitoring systems to detect suspicious activities including: unusually large transactions; transactions inconsistent with customer profiles; transactions involving high-risk jurisdictions; rapid movement of funds between accounts; and structured transactions designed to avoid reporting thresholds.
Suspicious Activity Reporting
Our compliance team reviews alerts generated by our monitoring systems. Where suspicious activity is identified, we file Suspicious Activity Reports (SARs) or Suspicious Transaction Reports (STRs) with the appropriate authorities in accordance with applicable laws and regulations.
Record Keeping
We maintain comprehensive records of all customer identification documents, account files, business correspondence, and transaction records for a minimum period of five years after the account is closed or the transaction is completed, as required by law.
Staff Training
All employees receive mandatory AML/CTF training commensurate with their role. Training covers applicable laws, red flags of suspicious activity, reporting obligations, and the consequences of non-compliance. Training is conducted upon hire and annually thereafter.
Independent Audit
Our AML/CTF program is subject to independent audit at least annually to assess its effectiveness and compliance with applicable requirements. Findings and recommendations are reported to senior management and addressed promptly.