Introduction
Unblock LT ("we," "us," or "our") is committed to maintaining a strong and secure platform for our users. This Know Your Customer (KYC) and Anti-Money Laundering (AML) Policy outlines our commitment to complying with the applicable laws and regulations related to KYC and AML in the United Kingdom (UK) and the European Union (EU). This policy applies to all users of our website www.getunblock.com ("the Website") and any related services offered by Unblock LT.
Objectives
The objectives of our KYC/AML Policy are as follows:
KYC (Know Your Customer)
a. Verify the identity of our customers to ensure they are legally eligible to use our services.b. Prevent identity theft, fraud, and unauthorized activities on our platform.c. Safeguard our users and our business against potential risks associated with money laundering, terrorist financing, and other financial crimes.
AML (Anti-Money Laundering)
a. Implement robust procedures to detect, prevent, and report suspicious activities that may involve money laundering or terrorist financing.b. Comply with all relevant UK and EU AML laws, regulations, and guidelines.c. Collaborate with regulatory authorities and law enforcement agencies, if required, to combat money laundering and terrorist financing.
Customer Identification Program (CIP)
Customer Due Diligience (CDD)
a. We will establish and maintain a risk-based CDD program to verify the identity of our customers.
b. We will collect and verify customer information, including but not limited to:
- Full name
- Residential address
- Date of birth
- Nationality
- Government-issued identification documents (e.g., passport, driving license)
Enhanced Due Diligence (EDD)
a. In certain circumstances, such as higher-risk transactions or customers, we may apply enhanced due diligence measures to obtain additional information.
b. EDD measures may include requesting the source of funds or wealth, proof of address, conducting background checks, and assessing the legitimacy of the business or individual.
Ongoing Monitoring
a. We will monitor customer activity for suspicious patterns or transactions.
b. If any suspicious activity is identified, we may take appropriate actions, including but not limited to:
- Requesting additional information or documentation
- Suspending or terminating the user's account
- Filing reports with relevant authorities, as required by law
Data Privacy and Security
a. We are committed to protecting the privacy and security of customer information.
b. We will adhere to all applicable data protection laws, including the General Data Protection Regulation (GDPR) in the EU.
c. Customer information will only be used for KYC/AML purposes and will not be shared with unauthorised third parties.
Recordkeeping and Reporting
a. We will maintain appropriate records of all customer identification information and transaction details as required by applicable laws and regulations.
b. We will report any suspicious activities or transactions to the relevant authorities, as mandated by law.
Training and Awareness
a. We will provide ongoing training and awareness programs to our employees to ensure they understand their responsibilities and obligations regarding KYC/AML compliance.
b. Our employees will be trained to identify and report suspicious activities promptly.
Compliance Officer
The Compliance Officer is responsible for overseeing the implementation and enforcement of our AML/KYC Policy.
Their duties include:
- Collecting Users' identification information
- Establishing and updating internal policies and procedures for reports and records
- Monitoring transactions and investigating deviations
- Implementing a records management system.Updating risk assessment regularly
- Providing law enforcement with required information
- The Compliance Officer also collaborates with law enforcement agencies involved in preventing money laundering, terrorist financing, and other illegal activities
