Premium wave

Anti-Money Laundering (AML) Policy

Premium Wave is committed to preventing money laundering and the financing of terrorism. As part of our commitment to regulatory compliance and the protection of our users, we have implemented this Anti-Money Laundering (AML) policy to ensure that our platform is not used for illicit purposes.

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Please read these Terms carefully before using the Platform. If you do not agree to these Terms, you may not access or use the Platform.

Know Your Customer (KYC) Procedures:

We require all users to undergo a thorough KYC process before they can use our platform for trading. This includes verifying their identity, address, and source of funds.

Enhanced Due Diligence (EDD)

 In certain cases, we may conduct enhanced due diligence on customers who present a higher risk of money laundering or terrorist financing. This may include gathering additional information and monitoring their transactions more closely.

Politically Exposed Persons (PEPs)

 We have procedures in place to identify and conduct enhanced due diligence on politically exposed persons (PEPs) to mitigate the risk of money laundering and corruption.

Transaction Monitoring

Automated Monitoring: We use automated systems to monitor transactions on our platform for suspicious activity, including patterns that may indicate money laundering or terrorist financing.

 

Our compliance team conducts manual reviews of transactions flagged by our automated monitoring systems to determine if further action is required.

Reporting Obligations

Suspicious Activity Reporting: If we have reasonable grounds to suspect that a transaction or customer is involved in money laundering or terrorist financing, we will report it to the relevant authorities as required by law.

 

Compliance with Legal Obligations: We comply with all applicable laws and regulations related to AML and counter-terrorism financing, including providing information to regulatory authorities as required.

Training and Awareness

 Employee Training: We provide regular training to our employees to ensure they are aware of their obligations under this AML policy and understand how to identify and report suspicious activity.

 

 Customer Education: We also educate our customers about AML policies and their role in preventing money laundering and terrorist financing.

Record Keeping

Transaction Records: We maintain detailed records of all transactions conducted on our platform, including customer identification information and transaction history, as required by law.

 

 

Compliance Records: We keep records of our compliance efforts, including KYC procedures, transaction monitoring, and suspicious activity reports, for the required period.