A description of the commitment to the prevention of money laundering and terrorist financing.
MYKOBO is committed to the prevention of money laundering and terrorist financing.
This commitment is demonstrated by controls that meet industry standards. To this end, MYKOBO has implemented a framework for Anti-Money Laundering (“AML”) and Combating the Financing of Terrorism (“CFT”).
MYKOBO has adopted a risk based approach to AML and CFT. Risks are identified and assessed from a proactive stance and the requisite resources are allocated to manage these risks.
Policies and procedural guideline are regularly reviewed and updated to ensure that they stay relevant, current and in line with evolving regulatory requirements and leading best practices.
Compliance policies cover the following:
- Customer due diligence
- Enhanced due diligence
- Sanctions monitoring
- Transaction monitoring
- Politically Exposed Persons
The Compliance Officer (CO) is responsible for overseeing compliance with relevant rules, regulations, legislation and industry guidance.
The CO will ensure that AML & CFT reports are produced . These reports provide information that can be used to assess adherence to compliance obligations.
MYKOBO is obliged to verify the following information in order to onboard a user.
- First name
- Last name
- The number, type and name of the issuer of a valid official identity document
- A likeness of the user
MYKOBO UAB is supervised by the Financial Crime Investigation Service under The Ministry of the Interior of the Republic of Lithuania as a Virtual Currency Wallet Operator and Virtual Currency Exchange Operator.