Money laundering is any transaction or series of transactions undertaken to conceal or disguise the nature and source of funds that have been obtained from illegal activity.
The main objective of the money launderer is to transform ‘dirty’ money into seemingly clean money or other assets in a way to not leave any trace as possible of the transformation. Examples of illegal activities that often involve money laundering are: drug trafficking; terrorism; smuggling; fraud; bribery; robbery; embezzlement; and illegal gambling.
Quickewallet is following Legal Agreement.
- Quickewallet promoted all the rules and procedures related to prevention of money laundering.
- The Holding Group of Companies have got general policies against money laundering and terrorist financing.
Branches and Subsidiaries
- The branches and subsidiaries in other countries operate in accordance with the legislation of those countries.
- They also implement the anti-money laundering policies of Quickewallet.
Quickewallet’s Anti-Money Laundering Policy
The following standards and duties are considered to be minimum requirements for Quickewallet.
- Know Your Customer and Due Diligence
- For each Person and/or Legal entity want to use all the advantages of our system should hold a Quickewallet certified account.
- All persons and legal entities should have “Identity Verified|” by Quickewallet.
- Quickewallet will monitor any unusual or suspicious transactions or activities.
- Record keeping
- Quickewallet will keep a Records of all documents obtained for the purpose of identification and all transaction data as well as other information related to money laundering matters in accordance with the applicable anti-money laundering laws/regulations.
- All records must be kept for at least 5 years.
The suggested procedures are not only compliant with the current regulatory requirements, but also include the latest tools in cutting edge fintech, including:
- KYC - Mobile ID-Scan Solutions
- Sanctions and PEP Screening
- Secure Online KYC Document Solutions
- Suspicious Transactions Reporting