KYC/AML POLICY
ADVENTURE CONNECTIONS LIMITED
This policy of ADVENTURE CONNECTIONS LIMITED is approved by the board of directors meeting dated 23/05/2022.
This guideline provides general description of KYC/AML POLICY standards followed by ADVENTURE
CONNECTIONS LIMITED on the website “advanceexperts.com” when dealing with for organizers of events (hereinafter the Contractor – legal entities/ individual entrepreneurs).
CONTRACTOR ACCEPTANCE POLICY
The goals of contractor acceptance policy are specified below:
· to ensure that no account is opened under a fictitious name
· to validate the residence/legal address of the Contractor
· to verify an identity of the Contractor
· to ensure that the Contractor is not involved in any suspicious activity
IDENTIFICATION OF CONTRACTOR
The following data of individual entrepreneurs is to be collected and verified:
· first and last name
· date of birth
· residence address
The following data of legal entities is to be collected and verified:
· the name of the corporate body
· company number or registration number
· registered address
· full name of each of the board of directors.
The Contractor must provide the following documents:
· proof of identity (passport, driving license)
· residential address proof (telephone Bill / Bank Account Statement / Letter from any recognized public authority / Utility bill / Letter from employer
To pass the verification procedure, please reach out to us via our Contact Form or via email
TRANSACTIONS MONITORING
Ongoing monitoring is an integral part of an effective KYC procedure. It is primary responsibility of ADVENTURE CONNECTIONS LIMITED to monitor payouts to the Contractors. ADVENTURE CONNECTIONS LIMITED has an understanding of the normal and reasonable activity of the costumer to identify transactions that fall outside regular pattern of activity.
1. Contractor screening
ADVENTURE CONNECTIONS LIMITED screens the Contractor’s name against all relevant sanctions lists in order to identify sanctioned individuals or entities.
2. Transaction screening
ADVENTURE CONNECTIONS LIMITED screens all Contractors involved in the transaction/payment in real time and against all relevant financial sanctions watch lists.
SANCTIONS LIST (Sanctioned Countries)
The need for effective sanctions list management, coupled with reliable sanctions screening systems, is paramount. Sanctions lists are constantly monitored and updated. The following countries are blocked by default::
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).
RED FLAGS
The list of suspicious activities includes the following:
Contractor shows unusual concern for secrecy, particularly with respect to his/her identity or background, or refuses to provide the requested documentation
Contractor provides unusual or suspicious identification documents that cannot be verified
Contractor uses the website to perform money transmission and/or exchange, and/or cash-out operations;
For no apparent reason, Contractor opens multiple accounts under a single name or uses multiple names for the same person to open accounts
Contractor or a person associated with Contractor has a questionable background (including prior criminal convictions) or is the subject of news reports indicating possible criminal, civil or regulatory violations