ChangeGroup monitors all suspicious and unusual transactions, regardless of the amount. We stringently follow all local and international laws and reserve the right to report any suspicious activities to relevant local and federal officials across multiple jurisdictions and to request more information from our customers on their transactions at any time.
We are committed to helping prevent money laundering, as well as terrorism and criminal financing and have strict policies and procedures in place to identify our customers in our efforts to combat illegal activity. These procedures may include one or more of the following:
- Verifying all customers’ identity by means of identification documentation or electronic verification.
- Monitoring and reviewing customer accounts, behaviours and transactions by our staff and automated systems.
- Reporting of suspicious transactions, false identification documents or false personal details.
- Retaining customer data for a regulated period after the business relationship ends.
- Training staff on our anti-money laundering and anti-terrorism financing policies and requirements.
In addition to GDPR regulations, regulators require that we foremost comply with all anti-money laundering regulations, which means we are required to disclose details of any suspicious/unusual transactions to relevant authorities without prior notice to the customer.
Passport details and other forms of identification may be requested for any transactions that fall into the scope of the relevant legislation in each country in which we operate. We kindly ask for your understanding by providing ChangeGroup with the relevant documents if and when requested to do so.