Land of Hope LLC Last update 05 October 2020
Policy of ”Land of Hope” LLC anti-money Laundering and terrorist financing (known as – “AML/KYC Policy”) is designated to prevent and mitigate possible risks of ”Land of Hope” LLC being involved in any kind of illegal activity.
Both international and local regulations require Land of Hope to implement effective internal procedures and mechanisms to prevent money laundering, terrorist financing, drug and human trafficking, corruption and bribery and to take action in case of any form of suspicious activity from its Users.
AML/KYC Policy covers the following matters:
One of the international standards for preventing illegal activity is customer due diligence (“CDD”). According to CDD, Land of Hope LLC establishes its own verification procedures within the standards of anti-money laundering and “Know Your Customer” frameworks.
Land of Hope LLC identity verification procedure requires the User to provide Land of Hope LLC with reliable, data or independent source documents. For such purpose Land of Hope LLC reserves the right to collect User’s identification on the site www.brides.global for the AML/KYC Policy purpose.
Land of Hope LLC will take steps to confirm the authenticity of documents and information provided by the Users. All legal methods for double-checking identification information will be used and Land of Hope LLC reserves the right to investigate certain Users who have been determined to be risky or suspicious.
Land of Hope LLC reserves the right to verify User’s identity in an on-going basis, especially when their identification information has been changed or their activity seemed to be suspicious (unusual for the particular User). In addition, Land of Hope LLC reserves the right to request up-to-date documents from the Users on the site www.brides.global even though they have passed identity verification in the past.
User’s identification information on the site www.brides.global will be collected, stored, shared and protected strictly in accordance with the Land of Hope LLC and related regulations.
The Compliance Officer is the person, duly authorized by Land of Hope LLC, whose duty is to ensure the effective implementation and enforcement of the AML/KYC Policy. It is the Compliance Officer’s responsibility to supervise all aspects of Land of Hope LLC anti-money laundering and combating terrorism including but not limited to:
- Collecting Users’ identification information.
- Establishing and updating internal policies and procedures for the completion, review, submission and retention of all reports and records required under the applicable laws and regulations.
- Monitoring transactions and investigating any significant deviations from normal activity.
- Implementing a records management system for appropriate storage and retrieval of documents, files, forms and logs.
- Updating risk assessment regularly.
- Providing law enforcement with information as required under the applicable laws and regulations.
- The Compliance Officer is entitled to interact with law enforcement, which are involved in prevention of money laundering, terrorist financing and other illegal activity.
4. Monotoring Transactions
The Users are known not only by verifying their identity (who they are) but, more importantly, by analyzing their transactional patterns (what they do). Therefore, Land of Hope LLC relies on data analysis as a risk-assessment and suspicion detection tool. Land of Hope LLC performs a variety of compliance-related tasks, including capturing data, filtering, record-keeping, investigation management, and reporting. System functionalities include:
* Daily check of Users against recognized “black lists”, placing Users on watch and service denial lists, opening cases for investigation where needed, sending internal communications and filling out statutory reports, if applicable.
*Case and document management
With regard to the AML/KYC Policy, Land of Hope LLC will monitor all transactions and it reserves the right to:
- ensure that transactions of suspicious nature are reported to the proper law enforcement through the Compliance Officer.
- request the User to provide any additional information and documents in case of suspicious transactions.
- suspend or terminate User’s Account when Land of Hope LLC has reasonably suspicion that such User engaged in illegal activity.
The above list is not exhaustive and the Compliance Officer will monitor Users’ transactions on a day-to-day basis in order to define whether such transactions are to be reported and treated as suspicious or are to be treated with good faith.
Land of Hope LLC, in line with the international requirements, has adopted a risk-based approach to combating money laundering and terrorist financing.
By adopting a risk-based approach, Land of Hope LLC is able to ensure that measures to prevent or mitigate money laundering and terrorist financing are commensurate to the identified risks. This will allow resources to be allocated in the most efficient ways. The principle is that resources should be directed in accordance with priorities so that the greatest risks receive the highest attention.
Director of ”Land of Hope” LL
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