AML

Anti-money laundering control (AML – anti-money laundering) is a set of measures aimed to prevent, detect, and report money laundering activities, for legalization of proceeds of crime or of financing terrorism. Development and implementation of these measures and instruments take place mainly in financial and legal industries and are carried out by international and national institutions, the banking and business communities.

We take special measures and implement security policies here at Walletev as a part of our AML practice:

  1. our executive director constantly supervises compliance of Walletev policies and procedures, world practices and regulations related to AML;
  2. our employees, who work in close contact with customers, are highly qualified customer service specialists and heads of departments and offices;
  3. we track the latest international trends and tendencies in anti-money laundering control and implement them in our company’s work. We understand that preventing money laundering and ascertaining the facts of terrorism financing is an ongoing process that requires constant attention and the ability to track illegal financial schemes. 

As part of the client policy, the company has implemented “Know Your Customer” (KYC) program, the main goal of which is full understanding and awareness of the partner’s business with whom we establish commercial relations, which includes the following procedures:

  1. identification of personal account clients, for which the company requests a customer’s passport, driving license, identification card or another identity document, as well as a document confirming residential address.
  2. identification of business account clients, for which the company requests a customer’s passport, driving license, identification card or another identity document, as well as a document confirming residential address of all beneficiaries of the company, as well as the main company documentation package, if the transaction amount exceeds $ 500 per transaction or $ 1000 in total.