At OKTO we recognize the importance of combating money laundering and the financing of terrorism in the global financial ecosystem. As Payment Orchestration, Cross Border , e-voucher payments and digital wallet payment services provider across the European Union and Latin America, we are committed to upholding the highest standards of regulatory compliance and financial integrity
Our Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) program is designed to ensure compliance with applicable laws, international standards, and industry best practices. We implement a comprehensive, risk-based framework that protects our customers, partners, and financial systems from being exploited for illicit purposes.
This statement outlines the core principles, controls, and mechanisms that underpin our AML/CFT compliance efforts.
Our compliance program is built on the following pillars:
1. Customer Due Diligence (CDD): KYC procedures including risk-based customer verification, Enhanced Due Diligence for higher-risk clients, and ongoing due diligence.
2. Transaction Monitoring: Utilizes a dual-layer transaction monitoring system, automated real-time and batch screening tools to flag unusual activity, and manual investigation by compliance personnel for enhanced review and case escalation.
3. Sanctions Screening: Continuous screening of customers and transactions against global watchlists including OFAC, UN, and EU sanctions (where applicable)
4. Suspicious Activity Reporting: Prompt and accurate reporting of suspicious transactions to relevant Financial Intelligence Units (FIUs).
5. Risk-Based Approach: We adopt a risk-based approach to compliance, allocating resources and controls.
6. Internal Policies and Procedures: Robust internal policies, procedures, and controls are in place. Policies are periodically reviewed and updated in line with legal, regulatory, and market developments.
7. Recordkeeping: Secure retention of customer and transaction data in compliance with regulatory timeframes
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8. Training & Awareness: Ongoing AML/CFT training for all relevant personnel to ensure awareness of risks, red flags, and regulatory obligations.
9. Governance: Our AML compliance function is overseen by a designated Money Laundering Reporting Officer (MLRO) supported by a dedicated compliance team and governed by Chief Compliance Officer.
10. Senior Management Oversight: AML/CFT compliance is supported and overseen by senior management and/or the Board.
11. Regulatory Cooperation and Transparency: OKTO actively cooperates with regulators and financial institutions to promote transparency, information sharing, and collective action against financial crime. We are open to AML/CFT audits, questionnaires, and enhanced due diligence by our banking, payment, and institutional partners.
12. Continuous Improvement: Our program is regularly reviewed and enhanced to reflect changes in laws and regulations, emerging ML/FT typologies and risks, technological advancements, feedback from regulators and partners.
Our Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) program is designed to ensure compliance with applicable laws, international standards, and industry best practices. We implement a comprehensive, risk-based framework that protects our customers, partners, and financial systems from being exploited for illicit purposes.
This statement outlines the core principles, controls, and mechanisms that underpin our AML/CFT compliance efforts.
Our compliance program is built on the following pillars:
1. Customer Due Diligence (CDD): KYC procedures including risk-based customer verification, Enhanced Due Diligence for higher-risk clients, and ongoing due diligence.
2. Transaction Monitoring: Utilizes a dual-layer transaction monitoring system, automated real-time and batch screening tools to flag unusual activity, and manual investigation by compliance personnel for enhanced review and case escalation.
3. Sanctions Screening: Continuous screening of customers and transactions against global watchlists including OFAC, UN, and EU sanctions (where applicable)
4. Suspicious Activity Reporting: Prompt and accurate reporting of suspicious transactions to relevant Financial Intelligence Units (FIUs).
5. Risk-Based Approach: We adopt a risk-based approach to compliance, allocating resources and controls.
6. Internal Policies and Procedures: Robust internal policies, procedures, and controls are in place. Policies are periodically reviewed and updated in line with legal, regulatory, and market developments.
7. Recordkeeping: Secure retention of customer and transaction data in compliance with regulatory timeframes.
8. Training & Awareness: Ongoing AML/CFT training for all relevant personnel to ensure awareness of risks, red flags, and regulatory obligations.
9. Governance: Our AML compliance function is overseen by a designated Money Laundering Reporting Officer (MLRO)supported by a dedicated compliance team and governed by Chief Compliance Officer.
10. Senior Management Oversight: AML/CFT compliance is supported and overseen by senior management and/or the Board.
11. Regulatory Cooperation and Transparency: OKTO actively cooperates with regulators and financial institutions to promote transparency, information sharing, and collective action against financial crime. We are open to AML/CFT audits, questionnaires, and enhanced due diligence by our banking, payment, and institutional partners.
12. Continuous Improvement: Our program is regularly reviewed and enhanced to reflect changes in laws and regulations, emerging ML/FT typologies and risks, technological advancements, feedback from regulators and partners.
Our Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) program is designed to ensure compliance with applicable laws, international standards, and industry best practices. We implement a comprehensive, risk-based framework that protects our customers, partners, and financial systems from being exploited for illicit purposes.
This statement outlines the core principles, controls, and mechanisms that underpin our AML/CFT compliance efforts.
Our compliance program is built on the following pillars:
1. Customer Due Diligence (CDD): KYC procedures including risk-based customer verification, Enhanced Due Diligence for higher-risk clients, and ongoing due diligence.
2. Transaction Monitoring: Utilizes a dual-layer transaction monitoring system, automated real-time and batch screening tools to flag unusual activity, and manual investigation by compliance personnel for enhanced review and case escalation.
3. Sanctions Screening: Continuous screening of customers and transactions against global watchlists including OFAC, UN, and EU sanctions (where applicable)
4. Suspicious Activity Reporting: Prompt and accurate reporting of suspicious transactions to relevant Financial Intelligence Units (FIUs).
5. Risk-Based Approach: We adopt a risk-based approach to compliance, allocating resources and controls.
6. Internal Policies and Procedures: Robust internal policies, procedures, and controls are in place. Policies are periodically reviewed and updated in line with legal, regulatory, and market developments.
7. Recordkeeping: Secure retention of customer and transaction data in compliance with regulatory timeframes.
8. Training & Awareness: Ongoing AML/CFT training for all relevant personnel to ensure awareness of risks, red flags, and regulatory obligations.
9. Governance: Our AML compliance function is overseen by a designated Money Laundering Reporting Officer (MLRO) supported by a dedicated compliance team and governed by Chief Compliance Officer.
10. Senior Management Oversight: AML/CFT compliance is supported and overseen by senior management and/or the Board.
11. Regulatory Cooperation and Transparency: OKTO actively cooperates with regulators and financial institutions to promote transparency, information sharing, and collective action against financial crime. We are open to AML/CFT audits, questionnaires, and enhanced due diligence by our banking, payment, and institutional partners.
12. Continuous Improvement: Our program is regularly reviewed and enhanced to reflect changes in laws and regulations, emerging ML/FT typologies and risks, technological advancements, feedback from regulators and partners.
