Anti-Money Laundering Statement

At Clarico Pay Ltd, we are dedicated to maintaining the highest standards of compliance with Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) regulations. As a Financial Conduct Authority (FCA) registered Small Payment Institution (SPI), we adhere to all relevant UK regulations, including the Money Laundering, Terrorist Financing, and Transfer of Funds (Information on the Payer) Regulations 2017.

Our Commitment:

• We are committed to preventing our platform from being used for money laundering or terrorist financing. We employ stringent procedures to identify and mitigate risks, ensuring that all transactions conducted through our services are secure and legitimate.
• We perform thorough customer due diligence on all users, including identity verification and ongoing transaction monitoring. Enhanced due diligence is applied to higher-risk customers, ensuring compliance with AML regulations.
• Our automated systems continuously monitor transactions for unusual patterns or behaviours that may indicate suspicious activity. Any transactions that appear to deviate from a customer’s normal behaviour are flagged for further investigation by our compliance team.
• Our team is trained to identify and report any suspicious activities to the appropriate authorities, including filing Suspicious Activity Reports (SARs) with the National Crime Agency (NCA) when necessary.
• We do not allow Politically Exposed Persons (PEPs) or individuals with known close associations to PEPs to use our services. Any user identified as a PEP will be promptly reviewed and the account may be terminated in accordance with our policies.
• We conduct rigorous sanctions screening on all customers and transactions. This involves checking against international and national sanctions lists, including those maintained by the United Nations, the UK Office of Financial Sanctions Implementation (OFSI), and other relevant authorities. Any transactions involving individuals or entities on these lists are immediately flagged for review.

• We require all users to provide accurate information during account registration and to comply with our AML and CTF policies. Failure to provide necessary information or attempts to use our platform for illegal purposes will result in account suspension or termination and may be reported to regulatory authorities.

Our Approach:

• We adopt a risk-based approach to AML compliance, applying appropriate levels of scrutiny and due diligence based on the risk profile of each customer and transaction.
• Our staff receive regular training on AML and CTF regulations and procedures to ensure they are equipped to identify and address potential risks. We continuously update our policies and procedures to stay aligned with the latest regulatory requirements and industry best practices.

Protecting Our Platform and Users:

Your trust and security are our top priorities. We aim to provide a safe and compliant platform for all users. We are committed to transparency, regulatory compliance, and maintaining the integrity of our services.

If you have any questions about our AML policy or how it affects you, please contact our customer support team for more information.