Anti MONEY LAUNDERING

MONEY LAUNDERING STATEMENT

Money laundering is the process by which criminally obtained money or other assets are exchanged for “clean” money with no obvious link to its criminal origin. Likewise, terrorist financing involves the solicitation, collection or provision of funds with the intention that they may be used to support terrorist acts or organisations. Funds may stem from both legal and illicit sources.

As an Authorised Payment Institution, Altras International Ltd recognises that, we are at risk of being exploited by money launderers. We fully recognise that we have legal obligations to do all we can to prevent the abuse of our services. Money laundering is a serious threat to financial system of all countries, and it leads to destruction of the country’s sovereignty and character. The prevention of money laundering is a key focus of regulatory authorities with robust money laundering regulations present designed to inhibit the movement of funds derived from criminal activity and to restrict the availability of money to fund terrorist activities

Altras International Ltd views money laundering as a serious criminal offence and is committed to preventing money laundering through its service, and as such, complies strictly with the regulatory requirements including taking such measures as the following:

  • Customer identification (KYC Policy)
  • Training staff in terms of anti-money laundering regulations
  • Retaining transaction and identification records for a minimum period of five years
  • Appointing a nominated officer responsible for monitoring and reporting all suspicious activities to the relevant authorities

IDue Diligence and KYC (Know Your Customer)

According to HM Revenue & Customs (HMRC) Money Laundering Regulations 2017 (as amended in 2019), Money Service Businesses (MSB’s) are obliged to obtain, verify, and record information that identifies each individual who establishes a business relationship with Altras International Ltd. Altras International Ltd has implemented a robust KYC programme to ensure that customers are subject to adequate identification and verification, risk rating and monitoring measures.

Identification Requirement

To fully comply with Anti-Money Laundering laws and for you to utilise our services, Altras International Ltd demands, at a minimum, two forms of documents for the satisfactory identification and verification of customers' account. Below are examples of documentation that may be required. A customer service representative will guide you through this process.

Proof of ID:

  • Passport
  • UK or EEA Driving License
  • EU National Identity Card
  • Residence Permit issued by the Home Office

Proof of Address:

  • Utility bill (issued within the last three months)
  • Local council tax bill (issued within the current tax year).
  • UK driving license (only if not used for Proof of ID).
  • Bank, Building Society or Credit Union statement (issued within the last three months).
  • Housing agreement from local authorities (issued within the current year).

On a case-by-case basis, Altras International Ltd may require additional documentation from its customers in order to comply with the due diligence process. Altras International Ltd will keep all information supplied confidential and will not disclose to any third party unless permission to do so is requested by law.

Providing false identification or contact details, will be deemed as misuse of our service and Altras International Ltd is required to report such misdemeanors to the relevant authorities.

Acceptable Use Policy

This Acceptable Use Policy sets out the terms under which you may access our Services and applies as soon as you access and/or use Altras International Ltd.

You may use our Services only for lawful purposes. You may not use our Services:

  • in any way that breaches any applicable local, national, or international law or regulation
  • in any way that is unlawful or fraudulent, or has any unlawful or fraudulent purpose or effect
  • for anything that is abusive, harmful, or does not comply with our content standards
  • in any way that would locally or internationally evade any applicable taxes or facilitate tax evasion

Unsupported businesses and transactions

You may not use Altras International services in connection with any activity, product, service, or transaction that violates any law, government regulation or promotes or facilitates the violation of any law or regulation. Additionally, you may not use Altras International service in connection with any of the following categories of businesses and practices. The types of businesses listed below are representative but not exhaustive, and we reserve our right to deny our services to any customers who exceed our risk tolerance. If you are uncertain as to whether your transaction is prohibited by Altras International or have questions about how these requirements apply to you, please contact us at compliance@altras.co.uk or by telephone at 0121 773 0218.

  • Adult Content
  • Alcohol Business
  • Ammunition, firearms, or certain firearm parts or accessories
  • Cannabis industry and other recreational drugs
  • Chemicals
  • Counterfeit or unauthorised goods
  • Credit repair companies and debt settlement services
  • Embassies/Consulates
  • Financial services operating without a license where one is required
  • Gambling
  • Individuals, entities, or countries subject to international sanctions
  • Intellectual property or proprietary rights infringement
  • Military and semi-military goods and services
  • Money Service Businesses
  • Multi-level marketing, pyramid schemes, get rich quick schemes, referral marketing.
  • Narcotics
  • Nonprofit organisations and charities
  • Online Pharmacies
  • Precious metals and stones
  • Shell Banks
  • Tobacco Products
  • Virtual Currencies

Altras International Ltd is committed to ensure the highest ethical professional standards in the conduct of its business activities. The adoption of this policy is aimed at increasing awareness of money laundering activity, its ill effects and to simultaneously counter money laundering in a significant way.

Please note Altras International Ltd reserves the right to refuse to process a transaction at any stage, when it is believed that the transaction is associated with money laundering or other criminal activity.

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