KYC & AML Policy

Here are the KYC procedures and protocols for Octalas Secure to ensure that we cannot sell our software and hardware to individuals or businesses involved in illegal activities, along with an AML anti-money laundering policy:

Know Your Client (KYC) Procedures:

1. Upon receipt of a sales inquiry, our sales team will verify the identity of the customer through a combination of methods, including government-issued ID, business registration documents, and other relevant documentation.
2. We will conduct a thorough risk assessment to identify potential risks associated with the customer, including their business activities, country of origin, and industry.
3. If the risk assessment indicates a high level of risk, we will require additional information or documentation to further assess the customer’s legitimacy.
4. We will maintain a record of all KYC documentation and risk assessments for at least five years after the termination of the business relationship.

Anti-Money Laundering (AML) Policy:

1. Octalas Secure is committed to preventing and detecting money laundering and terrorist financing activities.
2. We will implement AML procedures to identify and report suspicious transactions, including reporting any transactions that exceed $10,000 in value.
3. Our AML policy will be reviewed and updated annually, or as needed, to ensure compliance with relevant laws and regulations.
4. All employees will receive training on AML procedures and are required to adhere to these policies.

AML/CFT Measures:

1. Customer Due Diligence: We will conduct thorough customer due diligence on all customers, including identification verification, background checks, and monitoring of transactions.
2. Transaction Monitoring: We will monitor all transactions for suspicious activity and report any suspicious transactions to the relevant authorities.
3. Risk-Based Approach: We will take a risk-based approach to AML/CFT, focusing on high-risk customers and transactions.
4. Record Keeping: We will maintain accurate and detailed records of all AML/CFT activities for at least five years after the termination of the business relationship.

By implementing these KYC procedures and AML policy, Octalas Secure can ensure that we are complying with relevant laws and regulations while minimizing the risk of selling our software and hardware to individuals or businesses involved in illegal activities.