AML

Objectives of the policy:

Introduction and key concepts

There is a wide range of legislation and regulations which we, as a financial services firm, must comply with. In all cases not specified in this policy, Hightrade finance Ltdcomplies with the international Anti-Money Laundering laws and regulations

Any breaches of our procedures relating to the prevention of money laundering and the combating of terrorist financing will be dealt with severely and may be treated as gross misconduct.

Our policies and procedures were implemented to detect, prevent and report Money Laundering and any other suspicious activities.

 

No financial sector business can consider itself immune from the possibility of being used to further financial crime and we must carefully consider risks to our business and devise appropriate procedures with due regard to these risks. Such procedures will enable us to comply with the applicable legislative and regulatory requirements.

In order to establish business relations within the framework of crypto acquiring cooperation, the client must be fully verified.

Principles

AML policy includes a number of measures by which the company ensures the safety of activities.

  1. Due diligence – Individual approach

Simplified Due Diligence

Client:

 

Simplified Due Diligence:

Enhanced Due Diligence

The risk level of the Client is higher if:

Enhanced Due Diligence:

obtaining and corroborating additional identifying information from a wider variety or more robust sources and using the information to inform the individual customer risk profiling;
carrying out additional searches (e.g. verifiable adverse internet searches) to better inform the individual customer risk profiling;
where appropriate, undertaking further verification procedures on the customer or beneficial owner to better understand the risk that the customer or beneficial owner may be involved in criminal activity;
verifying the source of funds or wealth involved in the transaction or business relationship to be satisfied that they do not constitute the proceeds from crime;
evaluating the information provided with regard to the destination of funds and the reasons for transaction;
seeking and verifying additional information from the customer about the purpose and intended nature of the transaction or the business relationship.

Steps to identify customers and check whether they are who they say they are. Request and obtain the following:

To identify a Client who is an individual, Hightrade finance Ltd will collect information from the Client, including but not limited to, his full name, date of birth, phone number and the identity document type. Hightrade finance Ltd will verify the identity of the Client with documents such as his national ID, passport and/or driver’s licence.

To identify a Client who is a legal entity, Hightrade finance Ltd will collect information from the User, including but not limited to, its full legal name, registration number, date of incorporation / registration, country of incorporation / registration and lists of directors (as applicable to the entity). Hightrade finance Ltd will verify the Client with documents such as Memorandum and Articles of Association (or equivalent), additional beneficial ownership information and documents, and a detailed corporate chart (as applicable to the entity).

If the User is not physically present for identification purposes, Hightrade finance Ltd may adopt more stringent standards to verify the identity of the User.

Depending on the results of due diligence, the list of documents may be changed by discretion of Hightrade finance Ltd.

Transactions are possible only after passing the verification procedures.

  1. Ongoing monitoring

Ongoing monitoring on a risk basis means the scrutiny of transactions to determine whether those transactions are consistent with the MVTS provider’s information about the customer and the nature and purpose of the business relationship, wherever appropriate. Monitoring also involves identifying changes to the customer profile (for example, their behaviour, use of products and the amount of money involved), and keeping it up to date, which may require the application of enhanced CDD measures. Monitoring transactions is an essential component in identifying transactions that are potentially suspicious. Transactions that do not fit the behaviour expected from a customer profile, or that deviate from the usual pattern of transactions, may be potentially suspicious.

  1. Reporting

Hightrade finance Ltd is obliged to report to the Financial Intelligence Unit in the event of suspicion of money laundering or terrorist financing.

  1. Requirements for compliance officer

Responsibility for the consistency and effectiveness of AML/CFT controls is clearly allocated to an individual of sufficient seniority within the MVTS provider to signal the importance of ML/TF risk management and compliance, and that ML/TF issues are brought to senior management’s attention. This includes the appointment of a skilled compliance officer at management level.

  1. Anti-fraud

By the end of this year, Hightrade finance Ltd will sign a contract with a service providing services for the evaluation of financial transactions on the Internet for suspicion from the point of fraud and offering recommendations for their further processing.

Thus, Hightrade finance Ltd is guided by the following standards:

  1. 6. AML Employee training program

All Employees are expected to be fully aware of the Hightrade finance Ltd’s anti-money laundering policies and procedures.

To ensure the continued adherence to Hightrade finance Ltd’s anti-money laundering policies and procedures, all Employees are required to reconfirm their awareness of the contents of this Compliance Manual by signing the acknowledgement form annually, or more frequently, as required by the Compliance Officer.

Requirements: