OPTIMONEY is a licensed payment service provider authorized by The Autonomous Island of Anjouan with registration number L15912/OM
Last updated on 22 january 2025.
OPTIMONEY, a company registered in Hamchako, Mutsamudu, Autonomous Island of Anjouan, Union of Comoros, operates under an international financial license with registration number 15912 (hereinafter be referred to as the “OPTIMONEY”, “we,” “us,” or “our”, “Company”) is dedicated to adhering to all relevant laws and regulations related to Know Your Customer (KYC) procedures. This policy establishes guidelines for client identification and risk assessment.
The Company operates the website/platform https://www.optimoney.com/ (hereinafter be referred to as the “Platform”, “Website/Site”).
The KYC policy of OPTIMONEY ensures compliance with legal and regulatory standards in the Union of Comoros. It mitigates risks and fosters trust among clients and partners. All employees are required to strictly adhere to this policy and contribute to its successful implementation.
The goals of this policy include:
1.1 Ensuring compliance with legal and regulatory requirements for client identification and verification.
1.2 Defining procedures for collecting, verifying, and securely storing client information.
1.3 Preventing the use of the company's services for illicit activities.
1.4 Building and maintaining trust and security for clients and partners.
2.1 This policy applies to all new and existing clients of OPTIMONEY, as well as employees involved in client acquisition, support, monitoring, and transaction processing conducted on the OPTIMONEY platform.
3.1 For Individuals:
Clients must provide a valid government-issued photo identification document (e.g., passport).
Proof of residential address, such as a utility bill or bank statement, is required.
3.2 For Legal Entities:
The company director must submit a valid photo identification document and proof of residential address (e.g., utility bill or bank statement).
The entity must provide registration documents, including a certificate of incorporation and charter.
Information about beneficial owners and individuals with control over the entity must be disclosed.
4.1 Verification Procedures:
Submitted documents are verified for authenticity.
Independent and reliable sources are utilized for validating identity and address details.
Specialized databases may be consulted for additional checks, if necessary.
4.2 Updating Information:
Clients must regularly update their personal details.
Any changes to personal data or address must be promptly reported to the company.
4.3 Additional Checks:
High-risk clients are subjected to enhanced due diligence.
Regular monitoring of client activities is conducted to identify any suspicious behavior.
5.1 Client Categorization:
Clients are classified as low, medium, or high risk based on factors such as jurisdiction, geographic location, service type, and activity patterns.
5.2 High-Risk Clients:
Clients from high-risk jurisdictions undergo stringent scrutiny.
Politically Exposed Persons (PEPs) and individuals in senior governmental roles are treated as high risk.
5.3 Continuous Monitoring:
High-risk clients are closely monitored for transactional and account activities.
Suspicious actions are documented and promptly escalated for review.
6.1 Continuous Monitoring:
Transactions are monitored in real-time to detect suspicious activities.
Automated systems analyze and flag anomalies in transaction patterns.
6.2 Reporting Suspicious Activity:
Any suspicious activities must be immediately reported to the designated KYC officer.
The officer evaluates the situation and reports to appropriate authorities if required.
6.3 Documentation:
Records of monitoring and reporting activities, including client details and actions taken, are maintained as per legal requirements.
7.1 Training Program:
Employees interacting with clients must complete training on KYC procedures.
Training includes regulatory requirements, identification of suspicious activities, and practical case studies.
7.2 Awareness Initiatives:
Regular sessions are held to emphasize the importance of KYC compliance.
Employees are informed about emerging risks and updated on mitigation techniques.
7.3 Training Evaluation:
Effectiveness of training programs is assessed through tests and employee feedback.
Insights from evaluations guide improvements to the training content.
8.1 Routine Checks:
Internal evaluations are conducted periodically to ensure adherence to KYC policies.
8.2 Independent Audits:
Internal audits assess compliance with KYC standards and identify areas for improvement.
Findings are presented to the board of directors and used to enhance policies and procedures.
8.3 Reporting:
Audit results and recommendations are documented and reviewed by management for immediate action.
9.1 Legislative Compliance:
OPTIMONEY complies with all applicable laws and regulations in the jurisdictions where it operates.
Policies are reviewed and updated regularly to align with changing legal requirements.
9.2 Collaboration with Financial Institutions:
The company works with other financial institutions to share knowledge and improve KYC practices.
10.1 Record Maintenance:
Detailed records of client identification, risk assessments, and monitoring activities are maintained.
10.2 Confidentiality:
All KYC-related information is confidential and protected from unauthorized access.
Only authorized employees involved in KYC processes have access to client information.
10.3 Secure Documentation:
The company employs advanced systems to securely store and manage electronic records, utilizing encryption and access controls.
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