In order to comply with the Lithuanian Anti-Money Laundering and Counter-Terrorist Financing legislation, EU AML requirements, and international best practices, the Utrg, UAB has developed and implemented the AML/CFT Rules covering Know-Your-Customer (KYC) procedures and transaction monitoring aimed at reducing the risk of being involved in any kind of illegal financial activity. The Company's management emphasises the importance of AML/CFT compliance, thus ensuring that the requirements of those Rules are met with the highest accuracy
TRANSACTION LIMITS AND ANTI-FRAUD MEASURES
The Company applies fraud-prevention and transaction-monitoring measures to ensure customer protection and operational transparency. As of 30 December 2024, the Company fully complies with Travel Rule requirements, in accordance with the EU Transfer of Funds Regulation, and international standards.
Clients may be requested to provide additional information when necessary to:
– meet Travel Rule information-transmission obligations,
– support fraud-prevention measures,
– implement a risk-based monitoring approach.
Depending on the nature of the service, KYC verification may be required regardless of the transaction amount. For example, the UTORG payment card can only be issued after successful identity verification.
IDENTITY VERIFICATION (KYC)
Strict verification procedures were developed in order to prevent the use of alse, stolen, or otherwise unlawfully used identities, as well as any activity that may facilitate money laundering or terrorist financing.
To complete identity verification, you must provide personal information, including your residential address and upload documents that support the provided data. Acceptable documents include a passport, national ID card, driver’s licence, or residence permit. A recent proof of address should also be attached to confirm your place of address.
During the KYC verification procedure, the Company applies a risk-based approach, and may request additional information regarding the source of funds and expected transaction behaviour.
All the information you provide is thoroughly checked, both automatically and manually, to confirm the authenticity of the documents.
The Company cannot provide services services to individuals or legal entities under sanctions, including, but not limited to, the UN, EU, Lithuanian national or OFAC sanctions lists.
AML/CFT MEASURES
The company's AML/CFT measures are designed to prevent any activity that could facilitate money laundering or terrorist financing.
Compliance officers apply a risk-based approach while monitoring the transactional activity.
Our monitoring system automatically analyses all transactions to identify suspicious behavioural patterns (13). Where suspicion arises, a Compliance Officer may temporarily suspend a transaction or restrict service provision during the investigation.
Your data is always processed in accordance with the Company's Privacy Policy.