Nuro Capital (“Company”) is committed to complying with all applicable anti-money laundering (AML) and know your customer (KYC) regulations. This policy outlines the measures we take to prevent money laundering, terrorist financing, and other illegal activities.
1. Introduction
Purpose: The purpose of this AML & KYC Policy is to ensure that Nuro Capital conducts business in compliance with applicable laws and regulations, preventing and detecting any activities related to money laundering, terrorist financing, and other illegal activities.
Scope: This policy applies to all employees, officers, directors, and affiliates of Nuro Capital.
2. Customer Identification Program (CIP)
Verification Requirements: All customers must provide valid identification before opening an account with Nuro Capital. Acceptable forms of identification include government-issued ID, passport, or driver’s license.
Information Collected: We collect the following information from customers:
- Full name
- Date of birth
- Nationality
- Residential address
Contact information (phone number and email address)
Government-issued identification number
3. Risk Assessment
Customer Risk Assessment: Nuro Capital conducts a risk assessment of all customers based on various factors, including the nature of the business relationship, transaction patterns, and geographic location. Customers are categorized into different risk levels (low, medium, high) based on the assessment.
Enhanced Due Diligence (EDD): For customers identified as high risk, we perform enhanced due diligence, which includes obtaining additional information and documentation, conducting thorough background checks, and continuous monitoring of the account.
4. Ongoing Monitoring
Transaction Monitoring: We continuously monitor customer transactions to detect any unusual or suspicious activity. Transactions are reviewed for consistency with the customer’s known profile and risk level.
Periodic Review: Customer information and risk assessments are periodically reviewed and updated to ensure ongoing compliance with AML regulations.
5. Reporting Suspicious Activity
Internal Reporting: Employees are required to report any suspicious activity to the designated AML Compliance Officer. Reports must be made promptly and include all relevant details.
External Reporting: Nuro Capital will report any suspicious activity to the relevant authorities as required by law. This includes filing Suspicious Activity Reports (SARs) with financial regulatory bodies.
6. Record Keeping
Retention Period: All customer identification documents, transaction records, and other relevant information are retained for a minimum of five years after the termination of the business relationship.
Accessibility: Records are stored securely and are accessible only to authorized personnel.
7. Employee Training
Training Program: All employees receive regular training on AML and KYC policies and procedures. Training includes understanding money laundering risks, recognizing suspicious activities, and knowing how to report such activities.
Compliance Awareness: Employees are required to stay informed about changes in AML regulations and company policies.
8. Responsibilities and Governance
AML Compliance Officer: Nuro Capital has designated an AML Compliance Officer responsible for overseeing the implementation and enforcement of AML and KYC policies, conducting risk assessments, and reporting suspicious activities.
Management Oversight: Senior management is responsible for ensuring that adequate resources are allocated to maintain an effective AML program and for reviewing the effectiveness of the program regularly.
9. Prohibited Activities
Anonymous Accounts: Nuro Capital does not open or maintain anonymous accounts or accounts under fictitious names.
Prohibited Transactions: We do not engage in transactions with entities or individuals known to be involved in illegal activities or those appearing on international sanctions lists.
10. Legal Compliance
Regulatory Adherence: Nuro Capital complies with all applicable AML and KYC laws and regulations. We cooperate fully with law enforcement and regulatory authorities in their investigations and inquiries.
Policy Updates: This policy is reviewed and updated regularly to ensure compliance with changing regulations and industry best practices.
11. Customer Cooperation
Customer Obligations: Customers are required to provide accurate information and cooperate with Nuro Capital’s AML and KYC procedures. Failure to do so may result in account closure or other actions as deemed necessary by the Company.
Nuro Capital is dedicated to maintaining the highest standards of compliance with AML and KYC regulations. By adhering to these policies, we aim to protect our customers, our business, and the financial system from the risks associated with money laundering and other illegal activities