Compliance
Compliance at FINUS: Ensuring Secure and Transparent Financial Operations
At FINUS, we are committed to the highest standards of compliance and integrity. Our Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) programs are designed to safeguard our operations and our clients against financial crime. We adhere to rigorous KYC (Know Your Customer) protocols to ensure each transaction is secure and transparent.
Business control and screening of individuals and/or transactions:
Client identification program and procedures that include the following:
- Identity verification (Company: Identity verification of beneficial owners).
- Negative Media.
- Funds monitoring the origin of every account.
- Collect clients due to diligence information.
- Procedures, processes, and systems to monitor transactions and activity.
- Identify and report suspicious activity.
- Compliance Regulations such as OFAC, and politically exposed people.
The users of our services across our client’s platforms must provide:
- Their personal identification code or, if none, the date and place of birth.
- Place of residence.
- Proof of residence or bank statement.
- In the case of a company (EIN and Articles of incorporation).
Documents valid for identification basis:
- A valid passport.
- A diplomatic passport.
- A valid US government-issued ID card or Driver’s License.
- Permanent Resident Card or an Employment Authorization Document.
- Driver License.
- Debit or credit card.
- Social Security Number.
We perform a dual validation:
- Proof of Identity using the documents above-mentioned assuring that they are valid, meaning not expired, and with information visible and clear.
- Conduct a background check over criminal records and a screening process integrated with relevant U.S. Law Enforcement Agencies such as OFAC Specially Designated Individuals to verify that the proposed client may be eligible to participate in the Financial Market.
Screening high risk that fits one of the following:
- There are doubts as to the truthfulness of the submitted data, authenticity of the documents, or identification of the beneficial owner.
- The client is a politically exposed person.
- The client is from a high-risk third country, their place of residence is a high-risk country, or the origin of the payment service provider of the payee is in a high-risk third country.
- Unusual factors in the client onboarding.
- Unusual transactions patterns without a clear economic or lawful purpose.
- A client is a legal person or a legal arrangement that is engaged in holding personal assets.
- Products/service that favors anonymity.
- Payments received from unknown or non-associated third parties.
- A business relationship is established without the client or the client’s representative being physically met in the same place.
Client Onboarding and Transaction Monitoring: A Proactive Approach
Client Identification and Verification: We conduct thorough identity checks of all our clients, which include:
- Verification of personal details such as ID, date of birth, and place of residence.
- Documentation checks to confirm the legitimacy of the business or individual.
- Comprehensive background checks including criminal record reviews and sanction screenings to comply with OFAC standards.
Transaction Screening: Each transaction is scrutinized for signs of money laundering or terrorist financing.
We use cutting-edge technology combined with manual oversight to detect any unusual or suspicious activities. Our processes include:
- Real-time transaction monitoring for anomalies.
- Screening against high-risk profiles, including politically exposed persons and high-risk countries.
- Detailed analysis of transaction patterns to prevent structuring and other illicit schemes.
- Our Compliance Framework: Diligence at Every Step.
Risk Assessment:
We categorize clients based on their risk level, employing stricter controls and continuous monitoring for high-risk clients. Our dynamic approach ensures that we adapt to new threats and regulatory changes without disrupting client services.
Documentation and Record Keeping:
Meticulous documentation helps us maintain a transparent audit trail for all transactions and client interactions. This also facilitates quick responses to regulatory requests and ensures ongoing compliance.
Ongoing Training and Evaluation:
Our team receives regular training on the latest AML and CTF regulations. We conduct periodic assessments to ensure our staff is fully equipped to recognize and handle potential compliance issues.
Our commitment extends beyond meeting regulatory requirements. We strive to build trust with our clients and partners through proactive compliance and transparent operations. This commitment is the cornerstone of our business operations, ensuring that we not only understand the regulations that govern our industry, but also actively uphold the principles of honesty and integrity in all our transactions.
