AML/CTF AND KYC POLICY

AML/CTF and KYC Policy published and entered into force: 21.04.2021.

The AML / CTF and KYC Policy (hereinafter referred to as the "Policy") are designed to prevent and mitigate possible risks for Beezyy to be involved in any illegal activity.

References to the words "we", "our" or "us" (or similar words within the meaning) mean the Beezyy System.

References to the words "you", "you" or "your" (or similar words within the meaning) mean our User or Client, depending on the context of the Policy.

To comply with international and local regulations, Beezyy implements effective internal procedures and mechanisms to prevent money laundering, terrorist financing, drug and human trafficking, proliferation of weapons of mass destruction, corruption and bribery and respond to any form of suspicious activity on the part of its Clients.

Beezyy makes every effort to comply with international regulations to prevent money laundering, terrorist financing, drug and human trafficking, proliferation of weapons of mass destruction, corruption and bribery and to respond to any form of suspicious activity on the part of its Clients.

1. DEFINITIONS

  1. 1.1 BEEZYY CASHIER SYSTEM - is a payment system provider of cash registers, which is integrated into the site and through which an individual or legal entity can make a payment (hereinafter "System" or "Beezyy").
  2. 1.2 Data Subject - means the joint name of Beezyy Client or User, as the context requires.
  3. 1.3 Client - means a legal entity that integrates Beezyy and with its help receives payments from the Users.
  4. 1.4 Financing Terrorism - means the intentional provision or collection by any means, directly or indirectly, of funds with the intention to use these funds to commit terrorist acts
  5. 1.5 GDPR (General Data Protection Regulation) - means a regulation within the framework of European Union legislation on the protection of personal data of all natural persons who are citizens of the European Union.
  6. 1.6 Integration - is the combination of the Beezyy software interface and the Client's site, in order to receive payments on behalf of the User to the Client's account.
  7. 1.7 Money Laundering (legalization of proceeds from crime) - means the transfer or transfer of funds, if they are obtained from criminal activities or from participation in such activities, in order to conceal or disguise the illegal origin of funds or to provide assistance to any person involved in the commission of such activities with the aim of avoiding the legal consequences of his actions.
  8. 1.8 User - means a person who makes payments using Beezyy, which is integrated on the Client's website.
  9. 1.9 Personal Data - means any information related to the Data Subject that is processed, stored, protected and transmitted in accordance with the GDPR.
  10. 1.10 Product - means a special service Beezyy or an auxiliary application from Beezyy, or an additional solution from Beezyy that allows the Client to receive additional services for managing transactions and payments of the User.
  11. 1.11 Services:
    1. 1.11.1 Cashier software. Efficient cashier software for your business with PSP integrations. High responsibility, improved routing and risk management toolkit included.
    2. 1.11.2 Custom optimization System. Setting up your transactions, optimizing currency, country and counterparties usingSystem tools.
    3. 1.11.3 Processing strategy. A simple and efficient way to work with other payment systems around the world.
    4. 1.11.4 Additional integration.
  12. 1.12 Verification - means the procedure for verifying the authenticity of your document, website or action.

2. LEGISLATIVE ACTS

  1. 2.1 Beezyy is committed to complying with the statutory provisions that govern Money Laundering and Terrorist Financing.
  2. 2.2 Beezy is guided by the following laws in its Money Laundering and Financing Terrorism:
    1. 2.2.1 Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLRs);
    2. 2.2.2 5th Anti-Money Laundering Directive ((EU) 2018/843).
  3. 2.3 Also, Beezyy may cooperate with the following organizations during countering Money Laundering and the Financing of Terrorism:
    1. 2.3.1 Financial Action Task Force (FATF);
    2. 2.3.2 Joint Money Laundering Steering Group (JMLSG);
    3. 2.3.3 FCA Handbook.

3. VERIFICATION PROCEDURE

  1. 3.1 Beezyy has the right to ask you to provide your name, address, date of birth and other information about you, your organization or persons associated with your organization that will allow us to identify you before we carry out the Integration. We may also ask you to provide certain identification documents, such as your driver's license or passport or your organization's incorporation document, and may receive your credit history and other consumer reports to verify your identity. If you do not provide the requested information and documentation, we have the right to refuse to integrate Beezyy System to your website.
  2. 3.2 By applying to open Integration Beezy, you agree to provide the information and documentation requested by Beezy for the purposes described above.
  3. 3.3 To conduct due diligence on Clients, Beezyy requires Clients to provide Beezyy valid, original documents to identify them. Such documents may include, for example, national ID card, international passport, bank statement, company registration certificate.
  4. 3.4 Beezyy will take steps to verify the authenticity of the documents and information provided by the Client. Beezyy may also verify identity information using secondary sources.
  5. 3.5 B reserves the right to monitor the Client's Personal Data on an ongoing basis, especially when his identification information has been changed or his activity seemed suspicious (unusual for a particular Client). In addition, B reserves the right to request the Client for up-to-date documents, even if they have been authenticated in the past.
  6. 3.6 After Verifying the Client, Beezyy may refuse to provide the Identification and Products to the Client in a situation where it is suspected that System Beezyy will be used for illegal activity.
  7. 3.7 Beezyy reserves the right to reject the Integration of the System and Products Beezyy, or disable the System and Products, based on information about the Client.

4. MONITORING TRANSACTION

  1. 4.1 Clients Bееzyy must go through the Verification process before Integration. Upon completion of the Verification, the Client agrees to monitor the transactions, and B analyzes the Client's transaction patterns (what they are doing).
  2. 4.2 Beezyy relies on data analysis as a tool to assess risks and detect suspicious activity. These tools perform a variety of compliance tasks, including data collection, filtering, record keeping, investigation management, and reporting.
  3. 4.3 In accordance with the Policy, Beezyy will:
    1. 4.3.1 monitor all transactions. Beezyy reserves the right to ensure that reports of suspicious transactions are reported to the appropriate law enforcement authorities;
    2. 4.3.2 to request from the Data Subject any additional information and documents in case of carrying out suspicious transactions by him;
    3. 4.3.3 suspend or terminate the Integrated Client System if Beezyy has a reasonable suspicion that such User is engaging in illegal activity.
  4. 4.4 However, the above list is not exhaustive, and Beezyy has the right to track Client's transactions and User's payments on a daily basis to determine whether such transactions or payments should be reported and viewed as suspicious or should be considered in good faith.

5. RISK ASSESSMENT

  1. 5.1 To fulfill its obligations to combat money laundering (AML) and counter terrorist financing (CTF), Beezyy conducts an annual AML risk assessment. The purpose of the AML risk assessment is to prevent criminals from using Beezyy for money laundering by highlighting the risks and assessing the controls established by Beezyy a risk-based approach is used to identify the Client or User and track how the Client uses the Beezyy System and its Products and how the User pays.

6. COUNTRY OF RESIDENCE

  1. 6.1 Beezyy in this Policy defines its criteria for risk in relation to AML/CTF. To mitigate this risk, Beezyy does not accept Clients or Users who reside in countries that are considered above certain Beezyy's risk criteria.
  2. 6.2 The sources used with regards to the categorisation were:
    1. 6.2.1 Transparency International;
    2. 6.2.2 Know Your Country;
    3. 6.2.3 FATF High Risk Jurisdictions;
    4. 6.2.4 EU High Risk Jurisdictions;
    5. 6.2.5 Countries where Digital Assets are prohibited or there are restrictions on trading;
    6. 6.2.6 Countries where Digital Assets are not prohibited;
    7. 6.2.7 Countries subject to UNSC Sanctions Regime.
  3. 6.3 It is the policy that all Clients or Users residing in the countries listed below cannot use Services Beezyy. Any Client who attempts to Integrate the System or its Products will be refused and any funds will be returned to the source. Any User who attempts to pay will be refused and any funds will be returned to the source.
  4. 6.4 Full list of Banned Jurisdictions:
    • Afghanistan
    • Albania
    • Angola
    • Algeria
    • Bangladesh
    • Barbados
    • Bolivia
    • Botswana
    • Burma (Myanmar)
    • Burundi
    • Cambodia
    • Central African Republic
    • Chad
    • Congo
    • Guinea – Conakry
    • Cote D’ivoire
    • Crimea (Ukraine region)
    • Cuba
    • Democratic People’s Republic of Korea (DPRK)
    • Ecuador
    • Egypt
    • Equatorial Guinea
    • Eritrea
    • Ghana
    • Guinea Bissau
    • Guyana
    • Haiti
    • Iran
    • Iraq
    • Jamaica
    • Lao PDR
    • Lebanon
    • Libya
    • Mali
    • Morocco
    • Myanmar
    • Nepal
    • Nicaragua
    • North Macedonia
    • Pakistan
    • Panama
    • Qatar
    • Saudi Arabia
    • Somalia
    • South Sudan
    • Sudan
    • Syria
    • Tunisia
    • Uganda
    • Vanuatu
    • Venezuela
    • Yemen
    • Zimbabwe
  5. 6.5 Beezyy also does not accept any clients from disputed territories as they do not produce recognised official documents, these include:
    • Donetsk People’s Republic (DPR)/Luhansk People’s Republic (LPR)
    • Pridnestrovian Moldavian Republic
    • Nagorno-Karabakh Republic
    • Republic of Abkhazia
    • Republic of Somaliland
    • Republic of South Ossetia
    • Republic of Kosovo
    • Turkish Republic of Northern Cyprus
    • Republic of China (Taiwan)
    • Passports issued by the Russian Federation in Crimea and passports issued to residents of Donetsk and Luhansk regions of Ukraine do not qualify for verification
    • Sahrawi Arab Democratic Republic
    • Republic of Artsakh

7. CONTACTS

  1. 7.1 If you would like to ask questions, leave feedback or you are concerned about interaction with the System, please contact the support service at: [email protected].
  2. 7.2 You may also contact us at the following mailing address: [email protected]