Money laundering is the disguising of an illegal source of funds by converting it to cash or investments that are ostensibly legitimate.
This Anti-money Laundering Policy (hereinafter referred to as 'AML Policy') outlines the procedures and mechanisms used by Tabc for the purpose of preventing money laundering. Tabc adheres to the following policies:
The following anonymized statistical data is collected on Users for administrative purposes when running the Service:Tabc shall establish its own procedures for determining compliance with the anti-money laundering standards and Know Your Customer (KYC) policy.
Tabc Customers complete a verification procedure (they must provide an identification document issued by the state: passport or an ID card). Tabc reserves the right to collect Customers' identification information for AML Policy purposes. This information is processed and stored strictly in accordance with the Tabc Privacy Policy.
Tabc may also request a second Customer identification document: a bank statement or utility bill no older than 3 months, which includes the Customer's full name and current address.
Tabc shall verify the authenticity of documents and information provided by Customers and reserves the right to request additional information on Customers who have been identified as dangerous or suspicious.
If the Customer's identification information has been changed or their activity appears suspicious, Tabc is entitled to request updated documents from the Customer, even if they have been authenticated in the past.
The Anti-Money Laundering Officer is a Tabc employee who is responsible for ensuring compliance with the AML Policy, such as:
An Anti-Money Laundering Officer has the right to engage with law enforcement agencies that deal with the prevention of money laundering, financing of terrorism and other illegal activities.
The monitoring of the Customer's transactions and the analysis of the obtained data is also a tool for risk assessment and the detection of suspicious transactions. If money laundering is suspected Tabc shall monitor all transactions and reserves the right to:
The above list is not exhaustive. The AML Policy Compliance Officer monitors the Customers' transactions every day to determine whether to report them and treat them as suspicious.
In accordance with international requirements, Tabc applies a risk-based approach to anti-money laundering and financing of terrorism. Thus, measures aimed at the prevention of money laundering and financing of terrorism are commensurate with the identified risks, allowing resources to be effectively dedicated. Resources are used on a priority basis; the greatest attention is given to the greatest risks.