AML / KYC Policy

GumBallPay Anti-Money Laundering And Know Your Customer Policy (hereinafter – the “AML/KYC Policy”) is designated to prevent and mitigate possible risks of GumBallPay being involved in any kind of illegal activity.

Both international and local regulations require GumBallPay to implement effective internal procedures and mechanisms to prevent money laundering, terrorist financing, drug and humantrafficking, proliferation of weapons of mass destruction, corruption and bribery and to take action in case of any form of suspicious activity from its Users.

AML/KYC Policy covers the following matters:
Verification procedures.
Compliance Officer.
Monitoring Transactions.
Risk Assessment.
Verification procedures

One of the international standards for preventing illegal activity is customer due diligence (“CDD”). According to CDD, GumBallPay establishes its own verification procedures within the standards of anti-money laundering and “Know Your Customer” frameworks.

1.1. Identity verification

GumBallPay’s identity verification procedure requires the User to provide GumBallPay with reliable,independent source documents, data or information (e.g., national ID,international passport, bank statement, utility bill). For such purposes for Services reserves the right to collect User’s identification information for the AML/KYC Policy purposes.

GumBallPay will take steps to confirm the authenticity of documents and information provided by the Users. All legal methods for double-checking identification information will be used and GumBallPay reserves the right to investigate certain Users who have been determined to be risky or suspicious.

GumBallPay reserves the right to verifyUser’s identity on an on-going basis, especially when their identification information has been changed or their activity seems to be suspicious (unusual for the particular User). In addition, GumBallPay reserves the right to request up-to-date documents from the Users, even though they have passed identity verification in the past.

User’s identification information will be collected, stored, shared and protected strictly in accordance with the GumBallPay’s Privacy Policy and related regulations.

Once the User’s identity has been verified,GumBallPay is able to remove itself from potential legal liability in a situation where its Services are used to conduct illegal activity.