AML Policy

This Policy sets out the principles and practices that Stockwise strictly adheres to in its anti-money laundering (AML) and anti-terrorist financing (CFT) efforts. As part of this initiative, the Company is implementing a set of measures aimed at identifying and combating the laundering of funds obtained by criminal means, in accordance with international standards and requirements in this area.

1.1. In accordance with the principles of AML and KYC (“Know Your Client”), the Company identifies and verifies the Client based on the provided documents and data both at the stage of initial interaction and in the process of providing services.

1.2. Upon registration, the Client provides the Company with identifying information, including full name, date of birth, place of residence, contact telephone number and email address.

1.3. After receiving identifying information, the Company verifies the Client by requesting relevant documents.

1.3.1. To verify the Client’s identity, a high-quality scanned copy or photograph of a passport, driver’s license or other national identification document is required.

1.3.2. A high-quality scanned copy or photograph of a utility bill or bank statement, no older than three months, is required to verify your residential address.

1.4. When requested by the Company, the Client is obliged to provide a scanned copy or photograph of the front and back of his payment card. The front of the card must clearly display the cardholder’s full name, the expiration date of the card, and the first 6 and last 4 digits of the card number. The cardholder’s signature must be visible on the reverse side, and the CVC2/CVV2 code must be hidden.

2.1. In order to reduce the risk of money laundering and terrorist financing, the Company does not accept cash as deposits and does not make cash payments under any circumstances.

2.2. The Company reserves the right to refuse processing of a transaction at any stage if it is suspected that the transaction is related to money laundering or other illegal activity.

2.3. In accordance with international law, the Company does not provide the client with information that his suspicious activities have been transferred to the relevant authorities.

2.4. When performing a top-up operation, the name of the sender of the funds must exactly match the name specified when registering the account. Payments from third parties are not accepted.

2.5. The company requires compliance with the standard procedure for depositing and withdrawing funds. Withdrawal of funds is allowed to the same account and in the same way that was used for replenishment. When withdrawing money, the recipient’s name must exactly match the client’s data in the Company’s database. If the deposit was made via bank transfer, funds can only be withdrawn in the same way and to the same account in the same bank from which the deposit was made. If the deposit was made through an electronic payment system, funds can only be withdrawn through the same system and to the same account from which the deposit was made.

2.6. In accordance with the procedures for combating the laundering of funds obtained illegally, withdrawals of funds are carried out exclusively in the currency in which the deposit was made.

2.7. The Company retains data on all transactions for five years after the termination of the agreement with the Client.

3.1. The company appoints an employee responsible for compliance with anti-money laundering laws. This individual is ultimately responsible for compliance with CFT and AML policies, development and implementation of the company’s AML program, as well as training employees in the area of anti-money laundering, receiving, reviewing and maintaining internal suspicious activity reports.

3.2. All employees and managers of the Company undergo a thorough background check when hiring.

3.3. Employees who work with clients and are involved in identifying and tracking crimes related to the legalization of illegally obtained funds are trained in combating money laundering. Each new employee is provided with an AML training plan. This training includes training in detecting suspicious activity, preventing, detecting and reporting crimes related to money laundering and terrorist financing.

3.4. All violations of the Company’s AML policy, if any, must be reported to the Money Laundering Compliance Officer. If the employee responsible for compliance legislation on money laundering has violated this policy, reporting of such violation must be provided to the management of the Company.