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RoundRetail store is committed to maintaining the highest standards of integrity and compliance with applicable laws and regulations. This Anti-Money Laundering (AML) policy outlines our commitment to preventing money laundering and complying with relevant AML laws.
The purpose of this policy is to:
- Prevent the use of our store for money laundering or any other illegal activities.
- Comply with Anti-Money Laundering laws and regulations.
- Establish procedures for identifying and reporting suspicious activities.
3. Customer Due Diligence (CDD)
To ensure compliance with anti-money laundering (AML) regulations, customers must provide verified identity if payment information does not match their name and address. We will maintain up-to-date customer information and perform enhanced due diligence for high-risk customers
4. Monitoring Transactions
We will monitor transactions for:
- Unusual or suspicious patterns.
- Transactions inconsistent with the customer's normal behavior.
- Large or rapid transactions.
5. Reporting Obligations
We will promptly report any suspicious transactions or activities to our payment gateways, PayPal and Stripe, and fully cooperate with law enforcement agencies.
6. Employee Training
All employees will receive regular training on AML policies and procedures to ensure awareness and compliance.
7. Use of Third-Party Payment Processors
RoundRetail uses Stripe and PayPal for payment processing. We rely on these reputable services to enhance the security and integrity of our transactions.
8. Record Keeping
We will maintain accurate records of customer transactions and due diligence efforts for the required period.
9. Risk Assessment
Periodic risk assessments will be conducted to identify and mitigate potential risks associated with money laundering.
10. Compliance Officer
RoundRetail will appoint a Compliance Officer responsible for overseeing and enforcing this AML policy.
11. Amendments to Policy
This policy may be amended as necessary to ensure ongoing compliance with AML laws and regulations.
By adhering to this AML policy, RoundRetail aims to contribute to the global effort to combat money laundering and protect the integrity of financial systems.