AML Policy for mml.ng
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Anti-Money Laundering (AML) Policy
This AML Policy has been created to ensure that the activities of the https://mml.ng platform comply with international and national regulations regarding the prevention of money laundering and the financing of terrorism.
§ 1. Purpose of the Policy
The purpose of the AML Policy is to prevent and detect activities related to money laundering and the financing of terrorism within the operations of the https://mml.ng platform.
§ 2. Definitions
Money laundering: The process by which funds originating from illegal sources are introduced into the legitimate financial system in a way that conceals their origin.
Financing of terrorism: The act of providing financial support to terrorist organizations or activities.
§ 3. AML Principles
a) Customer Identification (KYC - Know Your Customer)
Before establishing a relationship with customers, mml.ng is obligated to verify the identity of its users. The verification process includes:
- Full name,
- Residential address,
- Identification number,
- Other information necessary to confirm identity.
b) Transaction Monitoring
All transactions conducted on the mml.ng platform will be monitored to ensure compliance with legal regulations. Special attention will be paid to transactions of unusual size, frequency, or nature, which may indicate potential money laundering or terrorism financing.
c) Suspicious Activity Reporting (SAR)
If a suspicious transaction is detected, it will be reported to the relevant financial oversight authorities in accordance with legal requirements. Any suspicious activity may result in the user's account being temporarily blocked until the matter is resolved.
d) Transaction Suspension
mml.ng reserves the right to suspend any transaction if it is suspected that the funds originate from illegal sources or are being used for terrorism-related activities.
§ 4. Responsibilities
All staff at mml.ng are required to adhere to this AML Policy and participate in regular training on preventing money laundering and terrorism financing.
§ 5. User Verification
mml.ng employs technological tools and internal processes to ensure that all users are adequately verified before starting to use the platform.
§ 6. Penalties for Violating the AML Policy
In the event of a violation of AML regulations, mml.ng will take appropriate actions, which may include:
- Blocking the user’s account,
- Reporting the incident to law enforcement authorities,
- Terminating the relationship with the user.
§ 7. Policy Amendments
mml.ng reserves the right to make changes to this AML Policy to adapt to evolving legal requirements and industry standards.
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§ 8. Contact Information
For any questions regarding the AML Policy, please contact us at: [email protected]
§ 9. AML Certificate for Perfecta Polska Technologies LTD
