AML/KYC Policy for Fintech Europa UAB

1.Introduction

Fintech Europa UAB, operating as paramountdax.org, is committed to preventing money laundering and terrorist financing. This AML/KYC policy outlines our commitment to comply with applicable laws and regulations in Lithuania and the European Union, including the EU Anti-Money Laundering Directive and the Lithuanian Law on the Prevention of Money Laundering and Terrorist Financing.

2.Objectives

To prevent the use of paramountdax.org for money laundering or terrorist financing.
To ensure compliance with applicable AML/KYC laws and regulations.
To protect the integrity and reputation of paramountdax.org

3. Customer Identification

All customers must provide valid identification documents before accessing our services. Acceptable documents include a passport, national ID card, or driver’s license.
Customers must also provide proof of address, such as a utility bill or bank statement, not older than three months.

3.1 Verification Progress

paramountdax.org will use reliable and independent sources to verify the information provided by customers.
Enhanced due diligence (EDD) will be conducted for high-risk customers, including politically exposed persons (PEPs) and customers from high-risk jurisdictions.

4.Risk Assessment

paramountdax.org will conduct a risk assessment to identify and assess the risks of money laundering and terrorist financing.
Based on the risk assessment, customers will be categorized into different risk levels (low, medium, high).

5. Monitoring and Reporting & Transaction Monitoring

Continuous monitoring of customer transactions will be conducted to identify suspicious activities.
Automated systems will be used to detect unusual patterns or transactions that may indicate money laundering or terrorist financing.

5.1 Reporting Sospicious Activities

Any suspicious activity will be reported to the Financial Crime Investigation Service (FCIS) of Lithuania.
Employees are required to report any suspicious activities to the AML Compliance Officer immediately.

6. Record Keeping

All customer identification documents, transaction records, and reports of suspicious activities will be retained for at least five years.
Records will be stored securely and will be accessible only to authorized personnel.

7. Training and Awareness

Regular training will be provided to all employees on AML/KYC policies and procedures.
Employees will be trained to recognize and report suspicious activities.

8. AML Compliance Officer

An AML Compliance Officer will be appointed to oversee the implementation and enforcement of this policy.
The AML Compliance Officer will ensure that paramountdax.org complies with all applicable AML/KYC laws and regulations.

9. Policy Review

This policy will be reviewed and updated annually or as required by changes in laws and regulations.
Any amendments to this policy will be communicated to all employees and relevant stakeholders.

10.Conclusion

Fintech Europa UAB is dedicated to maintaining a robust AML/KYC framework to safeguard against money laundering and terrorist financing. By adhering to this policy, we aim to provide a secure and compliant environment for our customers and stakeholders.