AML PROVISIONS - Ben S. Digital Change
The provisions below are an integral part of the Terms and Conditions of Ben S. Digital Change (www.bens-digital-change.com).
1. General
As a financial intermediary, Ben S. Digital Change is subject to the federal act on combating money laundering and terrorist financing (AML).
2. General duties
In order to combat money laundering and comply with AML duties, Ben S. Digital Change is required to:
- - verify the identity of the co-contractor (Art. 3 AML);
- - establish the identity of the beneficial owner (Art. 4 AML);
- - re-verify the identity of the co-contractor or re-establish the identity of the beneficial owner (Art. 5 AML);
- - clarify the background and purpose of transactions (Art. 6 AML);
- - establish and keep documents for a period of at least ten years (Art. 7 AML).
To this end, Ben S. Digital Change is entitled to take any action it deems necessary.
3. Duties in the event of suspicion of money laundering
In the event of suspicion of money laundering, Ben S. Digital Change is required to:
- - immediately inform the Money Laundering Reporting Office (Art. 9 AML);
- - freeze the assets entrusted to it that are related to the reported information if the information is transmitted to prosecution authorities (Art. 10 AML).
In the event of suspicion, Ben S. Digital Change is entitled to take all measures it deems necessary in order to clarify the situation and inform the authorities if necessary.
4. Rights of Ben S. Digital Change
Ben S. Digital Change reserves the right to accept or reject any registration, not to execute orders or to terminate any existing contractual relationship.
Ben S. Digital Change reserves the right to request additional supporting documents from the Customer at any time.
5. Using external services
In order to comply with its AML duties, Ben S. Digital Change reserves the right to use third-party services.
