Most recently updated on 13-06-2024
Anti-Money Laundering and Combating Money Laundering and Terrorist Financing Policy ("AML Policy" or "Policy") sets out the consistent principles and standards of Globe Monnaie SRL ("Company" or "TOKERO") in relation to preventing and combating money laundering (AML) and financing of terrorism (FT), as well as the implementation of international sanctions (IS) and is drawn up with the purpose of ensuring that the Company's business is conducted in compliance with applicable legal obligations in force with respect to prudent, sound practices to prevent the Company and/or the services offered from being used, intentionally or unintentionally, in illegal or criminal activities carried out by its customers.
The objective of this Policy is:
This Policy applies to all activities carried out by TOKERO and covers:
In application of the provisions of the legislation on money laundering and terrorist financing, the Company has appointed a Compliance Officer with responsibilities in the application of Law no. 129/2019 and the regulations issued in its application.
In order to identify and prevent money laundering, the Company applies Know Your Customer (KYC) measures to all new and existing customers, depending on the risk resulting from the application of its own SB/FT risk assessment system. The Company also applies KYC measures to all corporate customers. Know-your-customer measures are also applied when the relevant circumstances of the customer change. The company shall not open and operate anonymous or fictitious name accounts for which the identity of the account holder is not known and properly disclosed.
The Company has established a customer approval and risk categorization process whereby appropriate measures are taken to prevent and combat money laundering and terrorist financing and to implement international sanctions. Based on the internal SB/FT risk assessment system, the Company applies standard, simplified or additional know-your-customer measures. The implementing measures also allow the identification of the beneficial owner, where applicable.
The company applies the following standard KYC measures to prevent and combat money laundering and terrorist financing as follows:
a) customer identification and verification of the customer's identity based on documents, data and information obtained in the customer registration process, including from reliable and independent sources (if applicable);
b) identification of the beneficial owner in order to understand the ownership and control structure of the customer and verification of the identity of the beneficial owner based on documents, data and information obtained from the customer's registration process, including from reliable and independent sources (if applicable);
c) assessing the purpose and nature of the business relationship and, if necessary, obtaining additional information about them;
d) conducting ongoing monitoring of the business relationship, including by reviewing completed transactions throughout the duration of that relationship, to ensure that the transactions entered into are consistent with the information held on the customer, the business profile and risk profile, including, where appropriate, the source of funds, and that the documents, data or information held are up to date and relevant.
TOKERO conducts real-time identity verification of all customers through an automated process that includes verification of identity documents and liveness verification. This process ensures that the customer's identity is valid and that the documents provided are genuine. Without this process, through the Ondato remote identification provider, the company would not accept any customers.
The enrolment process for natural persons and legal entities, including the remote verification process, can be consulted on the website www.tokero.com or directly by clicking on the links:
https://tokero.com/en/kb/how-to-create-a-TOKERO-account-8/ - natural persons and https://tokero.com/en/corporate/ - legal entities.
TOKERO checks international databases for PEPs, including membership of international sanctions lists, through dedicated third-party providers.
Classification as a PEP also applies to:
In order to open a customer account on the TOKERO platform, the identity documents accepted by the Company for natural person customers are:
In order to open a customer account on the TOKERO platform, the identity documents accepted by the Company for legal entity customers are:
The Company shall not open and operate anonymous accounts or accounts in fictitious names for which the identity of the account holder is not known and properly declared.
Furthermore, the Company does not initiate or engage in contractual relationships with fictitious banks, any person or entity included in the OFAC lists of sanctioned countries or SDNs, the list of natural persons and legal entities suspected of committing or financing terrorist acts (Government Decision no. 784/2004) or the list of natural persons and legal entities suspected of committing or financing terrorist acts (Government Decision no. 1.272/2005). In case the Company falls into this category during the course of the business relationship, the Company will comply with the provisions of the legislation on international sanctions.
2.3. Monitoring and control
In order to prevent money laundering and terrorist financing, TOKERO conducts a monitoring and control process, at least in relation to: high-risk clients and transactions, transactions with high-risk countries, and complex and unusual transactions.
One of the important processes in monitoring customer transactions is the verification of the source of funds. Upon identification of a transaction that requires further verification, the customer is requested to provide relevant documents and information evidencing the source of funds or source of wealth.
A Proof of Sources of Funds (POSOF) is any (collection of) document(s) that explains where the funds used for a fiat deposit came from and where the crypto assets used for a fiat withdrawal came from.
Any POSOF document submitted must cover all deposits or withdrawals made by that funding method.
Individual acceptable POSOF:
Acceptable Corporate POSOF
The updating of customer documents, data and information shall be carried out periodically, in proportion to the degree of risk associated with the customer, and whenever deemed necessary. Irrespective of the reason for initiating the process of updating documents, data and information, this process necessarily entails the customer/legal representative going through a new identification process which involves both a new identification through the application of the remote identification provider (KYC/PEP/SI) and the updating of all documents, data and information required by the Company in the identification flow.
Until the data update process is completed, including the information requested by the company, the customer may not carry out transactions on/from his/her account.
A suspicious transaction refers to the presence of any information, suspicions, or any other matter that would necessitate suspicion that the assets involved in a transaction, conducted or attempted to be conducted through TOKERO's products, have been obtained illegally or are used for illegal purposes, or are used by any terrorist organizations, terrorists, or terrorism financiers for this purpose, or are related to or associated with them.
TOKERO will not provide any information to any person, including any person who is a party to the relevant transaction, other than information provided to the courts during any trial or to the authorities as required by laws and regulations.
TOKERO has systems in place that allow the prompt transmission, upon request by the Office and/or law enforcement authorities, of information obtained from the application of customer due diligence measures and transaction records for an additional period of 5 years from the date of termination of the business relationship with the customer.
TOKERO keeps at least the following documents and information in a form admissible in legal proceedings for the purpose of preventing, detecting and investigating possible cases of SB/FT:
The documents and information referred to above shall be kept for the entire duration of the business relationship and thereafter for a period of five years from the termination of the business relationship or from the date of the occasional transaction, unless it is necessary to extend the period of retention of documents for the purpose of preventing, detecting or investigating money laundering or terrorist financing, in which case the archiving period shall be extended by the period indicated by the competent authorities, but not exceeding five years.
Upon expiry of the retention period, the Company will delete the personal data, unless other legal provisions require further retention. Personal data is processed by the Company on the basis of this Law and in compliance with the applicable legislation on the processing of personal data solely for the purpose of preventing money laundering and terrorist financing and is not further processed in a manner incompatible with this purpose.
Training activities are planned in coordination with internal procedures and organized for all TOKERO staff in the form of on-site sessions (classroom learning) or remote (e-learning programs, reminder and awareness messages).
All documents related to AML/CFT and international sanctions are confidential and the property of the company.