Mean Global

Know your customer and anti-money laundering policy

REDACTURA LTD works with translators by Agreement. All commission payments are made directly to their bank card/account. We acknowledge that such a format of labour relations is associated with great risks. We care about our reputation as well as safety of our partners, therefore, by using our Services and cooperating with REDACTURA LTD, you confirm that you have read and agreed to this Policy.

This Anti-Money Laundering and Know Your Customer Policy (hereinafter, the AML/KYC Policy) is aimed to prevent the use of the services of our Company in criminal activities and to comply with all applicable laws and regulations in the field of combating money laundering and the financing of terrorism. AML/KYC procedures will be reviewed and updated on a regular basis to account for both changes in regulations and rules.

AML officer

One of the key factors of the AML/KYC Policy fulfilment is the appointment of an Anti-Money Laundering Officer. The AML officer is in charge of the implementation of the money laundering and terrorist financing prevention policy. Their functions include: 

(a) identifying the responsibilities of senior managers and providing them with regular information on money laundering risks,

(b) training relevant employees on their anti-money laundering responsibilities and making sure that employees know to report any suspicious activity to them,

(c) documenting and updating our anti-money laundering policies, controls and procedures,

(d) introducing measures to employees to make sure that the risk of money laundering is taken into account in the day-to-day business activity.

Know your customer procedures

Know Your Customer requirements are intended to verify customers to confirm they are who they claim to be. Transactions carried out on cards and accounts of individuals are at risk of money laundering and may attract the attention of law enforcement agencies. To protect ourselves, REDACTURA LTD gathers personal information to identify their customers.

KYC plays an important role in eliminating risks related to money laundering, terrorist financing, fraud, corruption, arms trade, bribery, drug trafficking, and other illegal financial activities. In practice, KYC means obtaining customer’s valid proof of identity and a proof of current residential address.

To identify an individual, we request their name, residential address, and date of birth. Verification of a customer is done through identity documents (a passport, driving licence, etc.) and address proof (electricity bill, bank account statement, letter from any recognized public authority or public servant, credit card statement, etc.)

Anti-money laundering

Anti-Money Laundering (AML) means the rules and regulations applied to prevent hiding the source of money earned from illegal activity. It also includes laws and procedures of identifying and countering financing terrorism (CFT).

The basic requirements of a comprehensive AML program are AML screening and monitoring. Both legal and natural persons should be checked for getting on the sanctions lists and/or for a questionable background (including previous convictions) or news reports indicating possible criminal, civil or regulatory violations.

Ongoing monitoring of existing customers includes transaction monitoring that ensures that transactions are consistent with the Company’s knowledge of the customer and reviewing records and keeping information obtained through KYC up-to-date. The ongoing monitoring aims to detect suspicious activity for the purpose of further investigation.

The Company carries out AML procedures using a risk-based approach. This means that some of our customers carry a greater risk to our business than others. The consequence of this is that residents of high-risk regions (countries under sanctions and countries sponsors of terrorism) and Politically Exposed Persons (PEP, i.e., individuals with a prominent public function.) are subjected to more thorough AML control.

The list of sanctioned countries (countries under sanctions):

Afghanistan, American Samoa, Angola, Bahamas, Botswana, Belarus, Burundi, Cambodia, Central African Republic, Chad, Congo, Cuba, Democratic Republic of Congo, Equatorial Guinea, Eritrea, Ethiopia, Ghana, Guam, Guinea Bissau, Iran, Iraq, North Korea, Lebanon, Libya, Mali, Nigeria, Pakistan, Panama, Puerto Rico, Russia, Samoa, Saudi Arabia, Sierra Leone, Somalia, South Sudan, Sri Lanka, Sudan, Syria, Trinidad and Tobago, Tunisia, Venezuela, Yemen, Zimbabwe, USA (some states).

Recordkeeping 

To comply with the Money Laundering Regulations, REDACTURA LTD keeps the following types of records:

  • customer identification documents,
  • risk assessments,
  • daily records of transactions,
  • receipts,
  • paying-in books,
  • customer correspondence with the Company.

REDACTURA LTD keeps your records for five years, beginning from the date a business relationship ends.