Money laundering is defined as the process where the identity of the proceeds of crime are so disguised that it gives the appearance of legitimate income. Criminals specifically target financial services firms through which they attempt to launder criminal proceeds without the firm’s knowledge or suspicions.
In order to comply international and local regulations, DRGx.io implements effective internal procedures and mechanisms to prevent money laundering, terrorist financing, drug and human trafficking, proliferation of weapons of mass destruction, corruption and bribery and to take action in case of any form of suspicious activity from its Customers.
AML/KYC/CTF Policy covers the following matters:
One of the international standards for preventing illegal activity is CDD (Customer Due Diligence). According to CDD, DRGx.io establishes its own verification procedures within the standards of AML and KYC frameworks. These include confirming the identity of our sellers and buyers by means of:
For Physical Persons
Please read the Compliance Documents for the details of the documents and the document requirements.
The Compliance Officer is the person, duly authorized by DRGx.io, whose duty is to ensure the effective implementation and enforcement of the AML/KYC/CTF Policy. It is the Compliance Officer’s responsibility to supervise all aspects of Drgx.io anti-money laundering and counter-terrorist financing, including but not limited to:
The Compliance Officer is entitled to interact with law enforcements, which are involved in prevention of money laundering, terrorist financing and other illegal activity.
The Customers are known not only by verifying their identity (who they are) but, more importantly, by analyzing their transactional patterns (what they do). Therefore, DRGx.io relies on data analysis as a risk-assessment and suspicion detection tool. DRGx.io performs a variety of compliance-related tasks, including capturing data, filtering, record-keeping, investigation management, and reporting. System functionalities include:
With regard to the AML/KYC/CTF Policy, DRGx.io will monitor all transactions and it reserves the right to:
The above list is not exhaustive, and the Compliance Officer will monitor Customers’ transactions on a day-to-day basis in order to define whether such transactions are to be reported and treated as suspicious or are to be treated as bona fide.
DRGx.io, in line with the international requirements, has adopted a risk-based approach to combating money laundering and terrorist financing. By adopting a risk-based approach, DRGx.io is able to ensure that measures to prevent or mitigate money laundering and terrorist financing are commensurate to the identified risks. This will allow resources to be allocated in the most efficient ways. The principle is that resources should be directed in accordance with priorities so that the greatest risks receive the highest attention.
We are prohibited from transacting with individuals, companies and countries that are on prescribed Sanctions lists. We will therefore screen against United Nations, European Union, UK Treasury and US Office of Foreign Assets Control (OFAC) sanctions lists in all jurisdictions in which we operate.
If you have any questions, comments, or concerns regarding our AML/KYC/CTF Policy and/or practices as it or they relate to the Platform, please contact us at the following e- mail address, address and telephone number:
E-Mail : [email protected]