ALTERCAP OU is a European Union regulated and licensed (FVT000323) entity. AlterCap is under the obligation to apply anti-money laundering (AML) requirements in the business.
As per regulatory requirements and Money Laundering and Terrorist Financing Regulations of Estonian Republic, ALTERCAP OU has adopted Anti-Money-Laundering and Know-Your-Customer (KYC) procedures. ALTERCAP OU actively prevent and take necessary measures to guard against being used as an intermediary in money laundering, terrorism financing and other criminal and fraudulent activities. All employees of ALTERCAP OU are obliged to record their suspicions of money laundering or terrorist financing or unusual cases, refusals to establish a business relationship under the Money Laundering and Terrorist Financing Prevention Act, or extraordinary cancellation (termination) of a business relationship and identification of a person subject to a financial sanction.
Any Client shall be required to provide a certain amount of information about themselves and their planned activities. We check the KYC during the registration of all our clients in accordance with European Union requirements and standards. The objective of KYC measures is to enable businesses to know and understand their customers better and help them manage their risks. When establishing a business relationship, the identification (verification) of the Client by means of information technology tools is carried out on the Internet (online) in accordance with the “Technical Requirements and Procedures for Identifying and Verifying Identity through Information Technology Tools” and the requirements of §24 and §31 of the Money Laundering and Terrorist Financing Prevention Act valid in the Republic of Estonia. In order to comply with the above, the identities of all new and existing customers will be verified to a reasonable level of certainty and any suspicious activity will be reported. Records of all identity checks will be maintained for up to 5 years. All customer and transactional information is stored confidentially and according to personal data protection laws.
Our internal policy fully evaluates the entire risks of working with clients. ALTERCAP OU also strictly monitors international sanctions lists, including such as HM Treasury Sanctions List, OFAC Sanctions List, EU Consolidated List of Sanctions, UN Sanctions, etc. and whether the Client is associated with any of the known terrorist organizations. The Company has zero tolerance for sanctioned individuals or legal entities. In the first instance, ALTERCAP OU should check the sanctions lists on the relevant agency websites, including the UK, EU and US to ensure that responsible are fully compliant with the applicable restrictions. The Company has the full right to freeze any such accounts, other funds or economic resources, as well as any funds owned or controlled by persons included in the sanctions lists. The company is also obliged to refrain from dealing with funds or assets or providing them (directly or indirectly) to persons or organizations from the sanctions lists
ALTERCAP OU analyzes whether the person applying for an account is considered as Politically Exposed Person (PEP) or/and close associates of individuals and legal entities with PEPs (is a family member of a PEP or a person considered close to PEP) and makes decisions about business relationships in connection with the available information.
After entering into a business relationship, the company carefully analyzes the Сlient’s activities for violations. Upon detection of such violations and/or violations of our internal policies by customers, the company immediately takes appropriate measures. If it is identified that Client is associated with a high-risk industry, such as, but not limited to ponzi schemes, darknet marketplaces, malware distribution, illegal gambling/betting activities, adult etc, or due to other reasons, the transaction shall be put on hold until further investigation is completed. The company shall decide whether to proceed with this transaction or not on a case-by-case basis. ALTERCAP OU reserves the right to perform additional video liveness tests or other types of video interviews if it suspects that the Client may be involved in a fraudulent activity or lost control of the account