Anti Money Laundering Policy

Quanto International Consulting SRL’s Anti-Money Laundering and Customer Awareness Policy (hereinafter referred to as “AML / KYC Policy”) is designed to prevent and mitigate the possible risks of Quanto International Consulting SRL being involved in any illegal activities. Both international and local regulations require Quanto International Consulting SRL to implement effective internal procedures and mechanisms to prevent money laundering, terrorist financing, drug trafficking and human trafficking, the proliferation of weapons of mass destruction, corruption and bribery, and to takes action in the event of any suspicious activity on the part of its Users. The AML / KYC policy covers the following issues:
  • Verification procedures.
  • Compliance Officer
  • Monitoring transactions.
  • Risk assessment.
1. Verification procedures
One of the international standards for the prevention of illegal activity is the background check (“CDD”). According to CDD, Quanto International Consulting SRL establishes its own verification procedures in accordance with the standards against money laundering and “customer knowledge”.
2. Identity verification
The identity verification procedure of Quanto International Consulting SRL requires the User to provide Quanto International Consulting SRL with reliable, independent source documents, data or information (eg national IC, international passport, bank statement, utility bill). For such purposes, Quanto International Consulting SRL reserves the right to collect user identification information for the purposes of the AML / KYC Policy. Quanto International Consulting SRL will take measures to confirm the authenticity of documents and information provided by Users. All legal methods will be used for double verification of identification information, and Quanto International Consulting SRL reserves the right to verify certain Users who have been considered risky or suspicious. Quanto International Consulting SRL reserves the right to verify the identity of the User at all times, especially when the identification information has been changed or their activity seems to be suspicious (unusual for a certain User). In addition, Quanto International Consulting SRL reserves the right to request updated documents from Users, even if they have passed identity checks in the past. User identification information will be collected, stored, shared and protected strictly in accordance with the privacy policy of Quanto International Consulting SRL and related regulations. Once the user’s identity has been verified, Quanto International Consulting SRL is able to move away from potential legal liability in a situation where its Services are used to carry out illegal activities.
  • Mandatory documents and optional requirements:
We have asked our users to upload at least 2 documents:
  • a color photograph of a government-issued identification document (local ID card, driver’s license, or passport)
  • a bank statement with the same name, an easy-to-read IBAN and a correct bank identification
Note that users can send and receive in these IBANs that they upload in their bank statements. If a user sends money from other accounts, we ask them to upload documents for these accounts and activate their funds only after uploading appropriate documents. All new users will need to upload an additional identifier consisting of an image / video, including the following items at the same time:
  • the same identification document issued by the government uploaded above, fully visible without areas covered
  • the owner of the document in a fully visible face position and holding the document in one hand
  • In the other hand, a paper document that contains custom text generated per user
Keep in mind that users can hold both documents in the same hand if they take the photo as a selfie, but they must comply with the requirement not to overlap or any segment of their face. Users can upload JPG / PNG files for photos or MP4 files for video. For video, please make sure that the face and each document are properly focused at least consecutively, if not simultaneously. For users considered suspicious / high risk, we may request that they upload video media with the above requirements as mandatory and no imaging options will be enabled.
  • Card check
Users who intend to use payment cards in connection with the services of Quanto International Consulting SRL must pass the card verification in accordance with the instructions available on the website of Quanto International Consulting SRL.
3. Compliance Officer
The compliance officer is the person duly authorized by Quanto International Consulting SRL, whose obligation is to ensure the implementation and effective application of the AML / KYC policy. It is his responsibility to oversee all aspects of anti-money laundering and counter-terrorism financing at Quanto International Consulting SRL, including, but not limited to:
  • Collection of user identification information.
  • Establish and update internal policies and procedures for completing, reviewing, submitting and maintaining all necessary reports and records in accordance with applicable laws and regulations.
  • Monitoring transactions and investigating any significant deviations from normal activity.
  • Implement a records management system for proper storage and retrieval of documents, files, forms, and logs.
  • Periodically update the risk assessment.
  • Providing information to law enforcement officials in accordance with applicable laws and regulations.
The compliance officer has the right to interact with law enforcement who are involved in preventing money laundering, terrorist financing and other illegal activities.
4. Monitoring transactions
Users are known not only by verifying their identity (who they are), but more importantly, by analyzing transactional patterns (what they do). Therefore, Quanto International Consulting SRL is based on data analysis as a tool for risk assessment and suspicion detection. Quanto International Consulting SRL performs a variety of compliance-related tasks, including data capture, filtering, record keeping, investigation management, and reporting. System features include:
  • Daily verification of Users based on recognized “blacklists” (eg OFAC), cumulation of transfers through multiple data points, placing Users on watch lists and refusal of services, opening cases for investigation where necessary, sending internal communications and completing statutory reports, if applicable;
  • Case and document management.
Regarding the AML / KYC policy, Quanto International Consulting SRL will monitor all transactions and reserves the right to:
  • ensure that transactions of a suspicious nature are reported for proper law enforcement through the compliance officer;
  • request the User to provide any additional information and documents in case of suspicious transactions;
  • suspend or close the User’s account when Quanto International Consulting SRL reasonably suspects that such User has engaged in illegal activities.
The above list is not exhaustive and the Compliance Officer will monitor Users’ transactions on a daily basis to determine whether these transactions should be reported and treated as suspicious or should be treated as bona fide.
5. Risk assessment
Quanto International Consulting SRL, in accordance with international requirements, has adopted a risk-based approach to combating money laundering and terrorist financing. By adopting a risk-based approach, Quanto International Consulting SRL is able to ensure that measures to prevent or mitigate money laundering and terrorist financing are proportionate to the risks identified. This will allow you to allocate resources in the most efficient ways. The principle is that resources should be directed according to priorities, so that the greatest risks receive the greatest attention.
UPDATES
Quanto International Consulting SRL may announce and modify its privacy policy on the chainsolutions.ro platform from time to time, and the privacy policy will be an integral part of this agreement.
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