Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) Policy
LINDAL GROUP

1. Introduction

The purpose of this Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) Policy is to ensure that LINDAL GROUP maintains strong systems and controls to prevent our services from being used to facilitate financial crimes. We are committed to mitigating risks related to money laundering and terrorist financing (ML/TF) and to providing guidelines for our users on essential AML/CTF requirements.

This policy will be reviewed periodically and updated as necessary to address evolving risks.

2. Administrative Information

  • Company Name: LINDAL GROUP SIA
  • Registered Address: Riga, Latvia
  • Company Number: 4020
  • Services Provided: Matching applications of lenders and borrowers
  • Contact Email: info@lindal.eu

3. Customer Due Diligence (CDD) Measures

We perform Customer Due Diligence (CDD) to assess and manage risks, ensuring that we’re not involved in illegal activities. CDD measures are taken in the following situations:

  • Upon establishing a business relationship or performing ongoing monitoring.
  • When verifying or updating information, or if there are doubts about the validity of gathered data.
  • If suspicious activity related to money laundering or terrorist financing arises.

We will not proceed with transactions or maintain business relationships if:

  • Required CDD measures cannot be performed.
  • There are suspicions of money laundering, terrorist financing, or sanction violations.
  • The customer’s risk profile exceeds our acceptable risk tolerance.

Customer Restrictions
We do not accept customers from the following groups:

  • Individuals/entities from high-risk countries or territories (e.g., Afghanistan, Cuba, North Korea, Russia, Venezuela, etc.)
  • Individuals/entities from disputed territories (e.g., Crimea, Kosovo, etc.)
  • Politically Exposed Persons (PEPs) and their close associates.
  • Customers from jurisdictions requiring specific licenses that have not been obtained.

If documents are provided in foreign languages, we may ask for a translation into English.

4. Customer Onboarding and KYC (Know Your Customer)

For Individuals:

  • Account Creation:
    • Provide a verified email and phone number.
    • Set a secure password and accept our terms and conditions.
  • Verification:
    • Complete KYC (Know Your Customer) through third-party software by filling out a KYC form.
    • Submit a photo of an ID, take a selfie, and upload proof of address and source of funds (if required).

Once verification is complete, you’ll be notified, and you can start using our services.

If additional actions are required, our support team will contact you.

Failure to Provide Required Documents:
If the necessary documents aren’t provided or are incomplete, we will be unable to proceed with the relationship.

For Legal Entities:

  • Company Representative:
    • The representative must follow the onboarding process, including providing company details such as name, registration number, VAT number, and contact info.
    • Submit the following documents:
      • Extract of the company registration.
      • List of beneficiaries.
      • Articles of association.
      • Financial statements (if available).
      • Representative and directors’ ID and proof of address.
      • Beneficial owner’s details (identity documents, source of funds).

Once the company’s verification is completed, the representative will be notified, and the services can be used. If documents are missing or incorrect, our team will reach out for clarification.

5. Monitoring Business Relationships

We monitor all business relationships to ensure compliance and reduce the risk of illicit activities. Monitoring involves:

  • Ongoing Monitoring:
    • Monitoring the customer’s business activities to ensure they match the expected profile and transaction history.
  • Transaction Monitoring:
    • Real-time monitoring of transactions.
    • Post-transaction analysis if suspicious activity is detected, such as unusual or high-risk transactions.
  • Source of Funds:
    • If a transaction seems suspicious or exceeds a certain threshold (e.g., €10,000), we may investigate the origin and legitimacy of the funds.
  • Updating Customer Data:
    • We periodically check if the customer’s data is up to date and relevant, including reviewing changes in behavior or transaction patterns.
    • Any changes in the customer’s profile or behavior will trigger a review of their data.

6. Cooperation and Exchange of Information

We work closely with regulatory authorities and law enforcement to fight money laundering and terrorist financing. When requested, we will provide information within legal boundaries.

For any inquiries related to this policy, please contact us at:
info@lindal.eu

Conclusion

LINDAL GROUP is committed to maintaining the highest standards of compliance with AML/CTF regulations. By implementing strong controls and procedures, we aim to protect our services and contribute to the prevention of illegal financial activities.