Toyow and its partners are at all times committed to the highest standards of anti-money laundering (AML) and counter-terror financing (CTF), including anti-fraud, anti-corruption, and taking measures to mitigate against financial crime.
What is Money Laundering and Terrorist Financing?
Money laundering is the illegal process of making large amounts of money generated by criminal activity, such as drug trafficking or terrorist funding, appear to have come from a legitimate source.
Terrorism financing is the provision of funds or providing financial support to individual terrorists or non-state actors. The objective of such financing is to support terrorist acts or support terrorist organizations that commit terrorist acts.
The KYC process at Toyow involves verifying customers to ensure they are genuinely who they claim to be. This includes obtaining identification documents and proof of address. This helps us in understanding the source of their funds.
By understanding these identities appropriate measures can be taken to strengthen AML and CFT efforts.