At Linguaphase LTD, we engage in collaborations with translators through agreements. All commission payments are directly processed to their designated bank card or account. We recognize that this form of labor arrangement carries inherent risks. Safeguarding our reputation and ensuring the well-being of our partners are paramount to us. By utilizing our services and entering into a cooperative relationship with Linguaphase LTD, you explicitly acknowledge that you have carefully reviewed and consented to the following policy.
This Know Your Customer and Anti-Money Laundering (KYC/AML) Policy is implemented to prevent our services from being used for illegal activities, including money laundering and terrorist financing. We are committed to upholding regulatory compliance, ensuring the safety of our partners and platform, and protecting our reputation. By accessing and using our services, you acknowledge and agree to comply with this policy.
Identification and Verification
To create a secure environment and comply with KYC regulations, we require the following information from translators:
- Personal Information: Translators are requested to provide their full name, residential address, and date of birth.
- Identity Proof: Valid identification documents, such as a passport or driver’s license, must be provided to verify the translator’s identity.
- Address Proof: Documented proof of translator’s current residential address, such as utility bills or bank statements, is required.
Anti-Money Laundering Measures
- AML Screening and Monitoring: We conduct thorough AML screening and ongoing monitoring of our customers. This includes checking individuals and entities against sanctions lists and assessing their background for any signs of criminal, civil, or regulatory violations.
- Risk-Based Approach: Our AML procedures follow a risk-based approach, which means that customers from high-risk regions or who are politically exposed persons (PEPs) undergoes enhanced due diligence measures to mitigate associated risks.
- Criteria for Suspicious or High-Risk Transactions: We use the following criteria to identify potentially suspicious or high-risk transactions:
- Refusal to provide required identity information attempts to hide or falsify identity, or provision of questionable authenticity documents.
- Difficulty in establishing communication, such as failure to respond to emails, makes it challenging to obtain necessary identification information or documents.
- Declining to disclose information about the source of funds used in a transaction.
- Constant connection to the TOR network using IP addresses from various locations.
- Residing in regions known for high-risk financial activities.
- Prohibited Transactions: We strictly prohibit engaging in business with internationally sanctioned individuals, groups, or nations. The list of sanctioned countries includes:
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, some states of the USA.
To comply with regulatory requirements and protect our interests, we maintain comprehensive records, including:
- Customer identification documents.
- Risk assessments and customer due diligence records.
- Transaction records, including receipts and invoices.
- Correspondence related to KYC/AML matters.
We retain these records for a minimum of five years from the date of the end of a business relationship.
Reporting Suspicious Activities
We strongly encourage all users and employees to report any suspicious activities, potential money laundering, or terrorist financing promptly. If you have concerns or information regarding such activities, please contact us via firstname.lastname@example.org. We treat all reports with strict confidentiality and take appropriate actions to address identified risks.
By utilizing our services and establishing a business relationship with us, you acknowledge and agree to comply with this KYC/AML Policy. We reserve the right to amend or update this policy periodically to reflect changes in regulations and best practices. It is your responsibility to review and understand this policy to ensure the proper and secure use of our services.
If you have any questions, or concerns, or need to report suspicious activities related to our KYC/AML procedures, please contact us at email@example.com. We encourage open communication to maintain the integrity of our services and ensure compliance with anti-money laundering regulations.