1. Policy statement
Monarion Payments Ltd is committed to preventing money laundering, terrorist financing and other financial crime. This policy outlines the principles of our Anti-Money Laundering (AML) and Know Your Customer (KYC) framework.
2. Risk-based approach
We apply a risk-based approach to customer due diligence, transaction monitoring and ongoing review, in line with applicable AML legislation and international standards.
3. Customer due diligence
- Verification of the legal entity and its registration details.
- Identification of directors and ultimate beneficial owners.
- Understanding the nature and purpose of the business relationship.
- Assessment of the expected transaction profile.
- Enhanced due diligence for higher-risk relationships.
4. Sanctions and PEP screening
All merchants, directors and beneficial owners are screened against applicable sanctions lists and for politically exposed person status, both at onboarding and on an ongoing basis.
5. Transaction monitoring
Transactions are monitored for unusual or suspicious patterns. Alerts are reviewed by our compliance team.
6. Reporting
Where required by law, we report suspicious activity to the relevant authorities. We are not permitted to inform the subject of such a report.
7. Record keeping
We retain due diligence and transaction records for the period required by applicable law.
8. Training
Our staff receive regular AML and compliance training appropriate to their role.
9. Contact
You can contact us through your dedicated account manager or through the official support channels made available to you.