At FinHub, safeguarding our platform against financial crime is paramount. Our commitment to zero tolerance for money laundering (ML), terrorist financing (TF), fraud, and other financial crimes underpins every aspect of our operations.
This document outlines the eligibility criteria for potential clients, setting the standards for who we engage with in business relationships. These criteria reflect our commitment to zero tolerance for money laundering, terrorist financing, fraud, and other financial crimes.
To maintain the highest standards of compliance and protect our community, we adhere to the following risk eligibility criteria:
1. Client Eligibility
2. Geographical Restrictions
3. Prohibited Clients and Activities
4. Risk-Based Client Assessment
5. Ongoing Monitoring and Compliance
6. Client Support and Inquiries
For further information regarding our eligibility criteria or to address specific concerns, please contact your dedicated client representative. Our team is committed to providing clear guidance and ensuring that all clients understand and adhere to our strict compliance standards.
This document outlines the eligibility criteria for potential clients, setting the standards for who we engage with in business relationships. These criteria reflect our commitment to zero tolerance for money laundering, terrorist financing, fraud, and other financial crimes.
To maintain the highest standards of compliance and protect our community, we adhere to the following risk eligibility criteria:
1. Client Eligibility
- Natural Persons: We offer our services exclusively to individuals aged 18 years and older.
- Legal Entities: Our services are available to registered businesses and organizations, subject to compliance with our risk assessment protocols.
2. Geographical Restrictions
- Sanctioned Countries: We do not engage with clients from countries subject to international sanctions or embargoes. This includes regions identified by the European Union and other reputable international bodies.
- High-Risk Jurisdictions: Clients located in non-EU countries classified as high-risk by the Financial Action Task Force (FATF) or listed on FATF’s black and grey lists are ineligible for our services.
3. Prohibited Clients and Activities
- Sanctioned Individuals and Entities: We strictly prohibit establishing business relationships with individuals or organizations listed on sanctions lists maintained by authorities such as OFAC, European Commission and the United Nations (UN).
- Criminal and Terrorist Affiliations: Engagement with parties involved in criminal activities, terrorism, or proliferation financing is strictly forbidden.
- Russian and Belarusian Entities: In light of ongoing war in Ukraine, we abstain from doing business with companies and individuals of Russian or Belarusian origin or citizenship.
4. Risk-Based Client Assessment
- Comprehensive Risk Profiling: Each potential client undergoes a detailed risk assessment to determine their suitability based on factors such as geographic location, industry sector, transaction patterns, and overall risk profile.
- Enhanced Due Diligence (EDD): Clients identified as higher risk are subject to additional scrutiny, including thorough verification of identity, source of funds, and ongoing monitoring of transactions.
5. Ongoing Monitoring and Compliance
- Control Measures: Strict policies, procedures, and technological controls are in place to detect and prevent any attempts to avoid our financial crime safeguards.
- Accountability and Oversight: Our anti-money laundering team is dedicated to evaluating and enhancing our risk environment, ensuring that all control measures remain effective and aligned with our zero-tolerance policy.
6. Client Support and Inquiries
For further information regarding our eligibility criteria or to address specific concerns, please contact your dedicated client representative. Our team is committed to providing clear guidance and ensuring that all clients understand and adhere to our strict compliance standards.