Ecovoy Anti-Money Laundering (AML) Policy

Objective of the Policy

This policy outlines the guidelines and procedures adopted by Ecovoy to prevent, detect, and report money laundering and terrorist financing activities, ensuring compliance with local and international laws and regulations.

Ecovoy Commitment

Ecovoy is committed to conducting its business ethically and in accordance with all applicable anti-money laundering laws. No client, transaction, or employee will be used to facilitate money laundering or terrorist financing activities.

Definitions

• Money Laundering: The process of concealing the illegal origin of funds obtained through criminal activities, making them appear legitimate.
• Terrorism Financing: Providing financial support to terrorists or terrorist organizations.

Employee Responsibilities

All Ecovoy employees must be vigilant and strictly adhere to this policy. It is each employee’s responsibility to immediately report any suspicious activity to the compliance department.

Compliance Procedures

• Identity Verification: All clients must be properly identified and verified before performing any transactions. This includes collecting valid identification documents and verifying information through reliable sources.
• Transaction Monitoring: Ecovoy uses automated systems to monitor transactions in real-time, identifying suspicious patterns that may indicate money laundering or terrorist financing.
• Due Diligence: We conduct enhanced checks on clients considered high risk, including politically exposed persons (PEPs), sanctioned countries, and high-risk sectors.
• Suspicious Activity Reports: Any activity that raises suspicions of money laundering or terrorist financing must be immediately reported to the compliance department, which will assess the situation and, if necessary, report to the relevant authorities.

Training and Education

All Ecovoy employees receive regular training on AML policies to ensure they are aware of their responsibilities and know how to identify and report suspicious activities.

Records and Reports

Ecovoy will maintain records of all relevant transactions, client verifications, and suspicious activity reports for a minimum of five years, as required by applicable laws.

Disciplinary Measures

Any employee who fails to comply with this policy will be subject to disciplinary measures, including termination, in addition to potential legal action.

Policy Review

This policy will be reviewed periodically to ensure that it remains effective and in compliance with applicable laws and regulations.

Global Compliance

Ecovoy operates globally, and as such, is committed to complying with all local and international anti-money laundering laws, even in jurisdictions where such laws may be less stringent.

Use of Technology

Ecovoy employs advanced technologies for money laundering detection, including machine learning algorithms to analyze behavior and transaction patterns in real-time.

Confidentiality and Data Protection

All information obtained in the course of implementing this policy will be handled with the highest level of confidentiality, in accordance with all data protection laws.

Partnerships and Third Parties

Ecovoy requires that all its partners and third parties with whom it does business adopt similar compliance practices to prevent money laundering.