Optimus Cards UK Ltd (“Optimus”) has policies & procedures in place to counter the risk of being used to further financial crime and is fully compliant with the UK Money Laundering Regulations 2017 (“MLRs 2017”) and other laws and regulations in alignment with the recommended standards set out by the Financial Action Task Force (“FATF”).
Optimus also adopts and follows tertiary guidance published by the Joint Money Laundering Steering Group (“JMLSG”) with systems and controls designed to assist in the detection and prevention of money laundering, funding of terrorism, fraud or any other financial criminality.
The firm undertakes risk based due diligence measures to identify and verify all customers and third parties it does business with and monitors transactions for suspicious behaviour.
Optimus has no risk appetite for the following:
- Activity with any Individuals or entities subject to sanctions.
- Activity in either a country or region that is subject to sanctions.
- Shell or Unlicensed Banks.
- Unregulated Banks / Financial Institutions.
- Entities whereby the Beneficial Owners cannot be identified.
- Any entity whose ownerships consists of any % of Bearer Shares.
- Parties suspected of being involved in financial crime or any serious criminal activity.
Optimus also adheres to global sanctions and screens all customers and third party relationships against sanction lists & other watchlists including United Nations EU, HM Treasury – HMT (UK) & Office of Foreign Assets Control – OFAC (US).
The Primary EU & UK legislation includes:
- Fifth Money Laundering Directive 2018 (To be transposed in the UK by January 2020)
- Sanctions and Anti-Money Laundering Act 2018 (enables UK to comply with any future international sanctions or anti-money laundering obligations post Brexit)
- Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017
- Criminal Finances Bill 2017
- Counter-terrorism Act 2008, Schedule 7
- Proceeds of Crime Act 2002
- Terrorism Act 2000
Further details are outlined in the Optimus Cards UK Ltd AML & CTF Policy and is available upon request. Please email AML@Optimuscards.com