(AML) PPrince EX s.r.o.1
1. Introduction
PPrince EX s.r.o. is fully committed to preventing its services from being used to facilitate money laundering, terrorist financing, or any other illicit activity. This Anti-Money Laundering (AML) Policy outlines our framework for compliance with applicable laws, including the implementation of effective internal procedures, due diligence, and risk controls.
2. Regulatory Compliance
PPrince EX s.r.o. complies with all relevant AML regulations in the Czech Republic and the European Union, including guidelines issued by the Financial Analytical Office (FAÚ). Our systems are designed to identify, assess, and mitigate AML risks in line with FATF recommendations.
3. Risk-Based ApproachWe apply a risk-based approach (RBA) to ensure appropriate measures are in place based on the level of risk posed by a customer or transaction. The risk assessment considers factors such as:
· Customer profile and behavior
· Geographic location
· Nature of services used (e.g., fiat/crypto exchange)
· Transaction size and frequency
· Customers and transactions classified as high-risk are subject to enhanced due diligence.
4. Customer Due Diligence (CDD)
Prior to establishing a business relationship, PPrince EX s.r.o. performs CDD measures to verify the identity of its customers. This includes: Full name, address, and date of birth (for individuals), Company name, registration number, and ownership structure (for legal entities), Source of funds and purpose of the relationship. We also conduct ongoing monitoring to detect changes in customer profiles and potential suspicious behavior.
5. Enhanced Due Diligence (EDD)
For customers and activities considered high-risk, EDD measures are applied, including: · Verification of beneficial owners
· Gathering additional information on source of wealth
· Closer transaction monitoring and approval processes
· High-risk cases include politically exposed persons (PEPs)
· Clients from high-risk jurisdictions, or those engaged in complex or unusually large transactions.
6. Prohibited Activities
PPrince EX s.r.o. prohibits the use of its services for the following:
· Activities involving illegal products or services
· Unlicensed gambling or betting platforms
· Mixing/tumbling or anonymity-enhancing services for crypto currencies
· Pyramid or Ponzi schemes
· Trade in arms, narcotics, or human trafficking
7. Prohibited and High-Risk Jurisdictions
We do not engage with individuals, entities, or counterparties based in or associated with the following:
· Sanctioned countries under EU, OFAC, or UN regulations
· Jurisdictions with weak AML regulations
· Countries on the FATF "High-Risk and Non-Cooperative Jurisdictions" list
· A full list of restricted jurisdictions is reviewed regularly and enforced through onboarding and transaction monitoring.
· Countries on the FATF "High-Risk and Non-Cooperative Jurisdictions" list
A full list of restricted jurisdictions is reviewed regularly and enforced through onboarding and transaction monitoring.
8. Monitoring and Reporting
All customer transactions are subject to real-time and periodic monitoring. Suspicious activity is escalated internally and, when required, reported to the Czech Financial Analytical Office (FAÚ) without notifying the customer (tipping-off prohibition).
9. Training and Awareness
PPrince EX s.r.o. ensures that all relevant staff receive AML training tailored to their responsibilities. This includes onboarding education, scenario-based reviews, and periodic refreshers.
10. Record Keeping
All CDD documentation, transaction records, and AML-related decisions are securely stored for a minimum of five years, in accordance with applicable legal requirements.
11. Ongoing Review
This policy is reviewed and updated regularly to reflect changes in regulations, operational procedures, or risk factors. Contact If you have questions regarding our AML Policy, please contact us via ex@pprince.io.
