Table of contents

Preventing Money Laundering

1. What is money laundering?

Modern society currently faces a serious challenge in preventing money laundering, e.g. making the possession, use, or disposal of money or other property obtained from criminal activities appear to be legal, and terrorism financing - providing or gathering money or rendering financial services with the knowledge that the money is intended to finance the organization, preparation for, or execution of terrorist acts or to support a criminal society (criminal organization) created or being created to perform terrorist acts.

Individuals and legal entities whose income is earned illegally make various attempts to legalize their income. For example, they may use other people's personal data, including data that has been acquired fraudulently. This may become a problem for people who become victims of fraud and are uninvolved in these parties' criminal activities.

2. Laws against money laundering

To prevent money laundering, organizations performing operations with money or other property are obligated to comply with anti-money laundering laws, verify the identity of clients, and assist government agencies and financial organizations working to combat money laundering. KivaCredit does everything required to ensure compliance with laws against money laundering and financing terrorism.

3. Client identity verification procedure

As part of the observance of the law on customer identification, this procedure is done during registration, all kinds of non-trading activities of different and partial supervision by our experts. To identify their customers, KivaCredit may ask you for personal data and take steps to verify the accuracy of this information using a verification system by our experts discovered Repeated. It may take several business days to complete this process.

4. Negotiate Security Compliance

Personal data we receive is treated in accordance with the provisions of the Security Agreement. Please note that the purpose of the identification is to comply with laws against money laundering and financing of terrorism, not because we suspect you are acting illegally. Accordingly, collaboration and whether you understand what steps are needed to combat money laundering and financing of terrorism effectively.