This Know Your Customer (KYC) and Anti-Money Laundering (AML) Policy outlines the procedures and measures implemented by PMH Fintech to mitigate the risks of money laundering, terrorist financing, and other illicit activities. By engaging with our services, users agree to comply with this policy.
KYC Verification
1.1 User Identification:
PMH Fintech requires the collection of accurate and up-to-date identification information from all users. This may include government-issued identification documents, proof of address, and other relevant documentation.
1.2 Enhanced Due Diligence (EDD):
In certain cases, PMH Fintech may conduct enhanced due diligence for high-risk transactions or users. This may involve additional documentation and verification steps beyond standard KYC procedures.
Customer Due Diligence (CDD)
2.1 Risk Assessment:
A risk-based approach is adopted to assess the level of due diligence required for each customer. This includes evaluating the customer’s business activities, transaction history, and other relevant factors.
2.2 Ongoing Monitoring:
PMH Fintech conducts ongoing monitoring of customer transactions to identify any unusual or suspicious activities. This includes monitoring for patterns inconsistent with the customer’s established behavior.
Anti-Money Laundering (AML) Compliance
3.1 Reporting Suspicious Activities:
PMH Fintech is committed to promptly reporting any suspicious activities to relevant authorities in compliance with applicable AML regulations.
3.2 AML Training:
All employees undergo regular training to stay updated on AML regulations and best practices. This ensures a company-wide understanding of AML compliance responsibilities.
Compliance Officer
4.1 Designation:
PMH Fintech designates a Compliance Officer responsible for overseeing and enforcing the KYC/AML program.
4.2 Reporting:
The Compliance Officer is responsible for reporting any significant findings or issues to senior management and, when necessary, to regulatory authorities.
Data Security and Confidentiality
5.1 Data Encryption:
PMH Fintech employs industry-standard encryption to secure customer data and prevent unauthorized access.
5.2 Limited Access:
Access to customer information is restricted to authorized personnel only, and strict confidentiality is maintained.
Record-Keeping
6.1 Document Retention:
KYC/AML records, including customer identification documents and transaction details, are securely stored and retained for the required regulatory period.
6.2 Data Integrity:
PMH Fintech ensures the accuracy and integrity of customer information through regular reviews and updates.
Changes to KYC/AML Policy
PMH Fintech reserves the right to update this KYC/AML Policy as needed to align with changes in regulations or business practices. Users will be notified of any changes, and continued engagement with our services constitutes acceptance of the modified policy.
Contact Information
For questions or concerns related to our KYC/AML Policy, please contact our Compliance Officer at [compliance@pmhfintech.com].
By engaging with PMH Fintech’s services, users acknowledge that they have read, understood, and agree to comply with this KYC/AML Policy.