Devnest Services (“we,” “our,” or “us”) is committed to complying with all applicable anti-money laundering (AML) laws and regulations. This policy outlines the measures we take to prevent our services and platform from being used for money laundering, terrorism financing, or other illegal activities.
1. Purpose
The purpose of this AML Policy is to:
Prevent and detect money laundering and terrorist financing activities.
Comply with applicable laws, regulations, and industry standards.
Protect the integrity and reputation of Devnest Services.
2. Scope
This policy applies to all employees, contractors, customers, and third-party service providers engaged with Devnest Services.
3. Responsibilities
a. Management
The management is responsible for ensuring the implementation and oversight of this AML Policy.
b. Employees
All employees must adhere to this policy and report any suspicious activities to the designated compliance officer.
c. Compliance Officer
Devnest Services will appoint a compliance officer responsible for:
Implementing and updating the AML Policy.
Conducting risk assessments.
Monitoring transactions and activities.
Reporting suspicious activities to relevant authorities.
4. Customer Due Diligence (CDD)
To comply with AML regulations, we will perform the following steps:
Customer Identification: Verify the identity of customers before providing services.
Know Your Customer (KYC): Collect and verify customer information, including name, address, date of birth, and identification documents.
Enhanced Due Diligence (EDD): Apply additional scrutiny to high-risk customers, transactions, or jurisdictions.
5. Transaction Monitoring
We will monitor transactions to identify:
Unusual patterns or activities that deviate from normal behavior.
Large or structured transactions that may indicate money laundering.
Transactions involving high-risk jurisdictions or entities.
6. Suspicious Activity Reporting (SAR)
If suspicious activity is identified, the compliance officer will file a Suspicious Activity Report (SAR) with the appropriate regulatory authorities in accordance with applicable laws.
7. Record Keeping
Devnest Services will maintain records of:
Customer identification documents for at least 2 years.
Transaction records, including suspicious activity reports and communications.
Employee training records related to AML compliance.
8. Training and Awareness
All employees will receive AML training to ensure they:
Understand their responsibilities under this policy.
Recognize signs of suspicious activity.
Know how to report concerns to the compliance officer.
9. Prohibited Activities
We strictly prohibit:
Engaging in or facilitating money laundering or terrorism financing.
Doing business with sanctioned individuals, entities, or countries.
Accepting cash or anonymous payments for high-value transactions.
10. Review and Updates
This AML Policy will be reviewed periodically and updated as necessary to ensure compliance with regulatory changes and industry standards.
11. Contact Information
For questions or concerns regarding this AML Policy, please contact:
Email: josthedev@gmail.com
Phone: +2347025604020
Address: 06, babanla oba street, ede, osun state, nigeria