AML Policy

WorkSwiss is committed to preventing its services from being used for money laundering, terrorist financing, fraud or other financial crime.

This Anti-Money Laundering ("AML") Policy describes the general measures used by WorkSwiss to identify clients, monitor account activity, verify the source and destination of funds where appropriate, and respond to potentially suspicious activity.

1. Purpose of This Policy

The purpose of our AML procedures is to reduce the risk that WorkSwiss accounts, payment facilities or trading services are used to conceal, transfer or otherwise facilitate proceeds of crime or other prohibited funds.

Our procedures may be updated from time to time to reflect changes in our services, risk assessments, payment methods and applicable legal or compliance requirements.

2. What Is Money Laundering?

Money laundering generally involves attempting to conceal or disguise the criminal origin, ownership, location or destination of funds or other assets so that they appear to originate from legitimate sources.

Financial accounts and transaction services can potentially be misused to move funds between parties, obscure their origin or create an appearance of legitimate financial activity.

3. Common Stages of Money Laundering

Money laundering is commonly described as involving three broad stages:

• Placement: introducing funds derived from unlawful activity into the financial system.
• Layering: conducting transactions or transfers intended to make the origin, ownership or movement of funds more difficult to identify.
• Integration: reintroducing funds into the economy in a manner intended to make them appear to have originated from legitimate activity.

These stages do not necessarily occur separately or in a particular order, and suspicious financial activity may take many different forms.

4. Client Identification

WorkSwiss may require clients to complete identity verification before receiving access to some or all account functionality.

Information or documentation requested may include:

• Full legal name;
• Date of birth;
• Residential address;
• Nationality or country of residence;
• Government-issued identification;
• Proof of residential address;
• Photographic or electronic identity verification;
• Payment-method ownership information;
• Other information reasonably necessary for verification or compliance purposes.

The exact requirements may vary according to the client's circumstances, jurisdiction, account activity and risk profile.

5. Verification of Information

Information provided by a client may be checked against documents, electronic verification systems, databases or other sources where reasonably necessary and permitted.

By providing information to WorkSwiss, clients acknowledge that such information may be used for identity verification, fraud prevention, security and compliance purposes in accordance with our Privacy Policy and applicable law.

6. Know Your Customer Procedures

Our AML procedures operate together with our Know Your Customer ("KYC") procedures.

Depending on the circumstances, WorkSwiss may seek to understand information concerning:

• The identity of the client;
• The client's residential address;
• The purpose and intended nature of the account;
• The source of funds used with the account;
• The source of wealth where additional review is appropriate;
• The ownership or control of relevant payment methods;
• The expected nature or level of account activity;
• Beneficial ownership where an account involves a legal entity.

7. Enhanced Due Diligence

Additional verification or enhanced due diligence may be required where an account, transaction, jurisdiction, payment method or other circumstance presents an increased financial-crime risk.

Additional measures may include requesting further identification, proof of address, source-of-funds information, source-of-wealth information, payment documentation or explanations and supporting evidence relating to particular transactions.

8. Sanctions and Screening

Where appropriate, WorkSwiss may screen clients or related persons against relevant sanctions, restrictions, politically exposed person information and other financial-crime risk data.

An account or transaction may be subject to additional review, restriction or rejection where screening identifies information requiring further investigation or action.

9. Transaction Monitoring

WorkSwiss may monitor deposits, withdrawals, transfers, trading activity and other account activity for patterns or circumstances that appear unusual, inconsistent or potentially suspicious.

Monitoring may take into account factors including:

• The size and frequency of transactions;
• The source and destination of funds;
• Payment methods used;
• Changes in transaction patterns;
• Activity inconsistent with known account information;
• Attempts to use unrelated third-party payment methods;
• Unusual movement of funds with limited apparent economic purpose;
• Other indicators of potential fraud or financial crime.

10. Source of Funds

WorkSwiss may request information or documentation concerning the origin of funds deposited into or otherwise associated with an account.

Depending on the circumstances, supporting documentation may include bank records, payment records, income information or other evidence reasonably necessary to understand the legitimate source of funds.

Failure to provide reasonably requested information may result in a transaction being delayed or rejected, or account functionality being restricted, subject to applicable requirements.

11. Source of Wealth

Where enhanced review is appropriate, WorkSwiss may request information regarding the broader origin of a client's wealth.

The type of information required will depend on the circumstances and may relate to employment, business activities, investments, inheritance, property or other legitimate sources.

12. Deposits

Deposits may be subject to verification and compliance checks. WorkSwiss may require that a payment method is held in the name of, or otherwise legitimately controlled by, the verified account holder.

We may reject, return or investigate a deposit where the payment method, ownership, origin of funds or transaction circumstances cannot be satisfactorily verified.

13. Third-Party Payments

WorkSwiss may restrict or refuse deposits and withdrawals involving payment methods belonging to unrelated third parties.

Where a third-party payment arrangement is permitted, additional verification may be required.

Clients must not use another person's payment method without lawful authorization.

14. Cash and Unsupported Payment Methods

WorkSwiss does not accept physical cash through its online services.

Only payment methods made available or expressly accepted through our approved payment channels should be used.

Payment methods may be added, restricted or discontinued according to operational, security, payment-provider or compliance requirements.

15. Withdrawals

Withdrawals are subject to identity, security, payment and compliance checks.

Where reasonably practicable and appropriate, funds may be returned to the original funding method or another verified payment method belonging to the client.

Alternative withdrawal arrangements may require additional verification before they can be approved.

For further information, clients should review our Deposit & Withdrawal Policy.

16. Suspicious Activity

Where account activity appears suspicious, WorkSwiss may conduct additional review and request information or documentation from the client.

Depending on the circumstances and applicable requirements, measures may include delaying or rejecting a transaction, restricting particular account functions, suspending activity or taking other appropriate protective or compliance action.

17. Fraud Prevention

AML procedures may operate together with fraud-prevention and account-security controls.

We may investigate suspected identity theft, unauthorized payment activity, account takeover, forged documentation, payment fraud or other misuse of our services.

18. Record Keeping

WorkSwiss may maintain records relating to client identification, verification, transactions, account activity and compliance reviews for as long as reasonably necessary or required under applicable law and our record-retention procedures.

Account closure does not necessarily result in immediate deletion of records that must or may legitimately be retained.

19. Requests for Additional Information

Verification is not necessarily a one-time process.

WorkSwiss may request updated or additional information after an account has been opened where reasonably necessary to maintain accurate records, investigate account activity, process a transaction or satisfy security or compliance requirements.

Clients are expected to cooperate with reasonable verification and information requests relating to their account.

20. Account Restrictions

Where required information is not supplied, cannot be verified or raises unresolved concerns, WorkSwiss may restrict certain account functions while the matter is reviewed.

Depending on the circumstances, this may affect deposits, withdrawals, trading or other functionality.

21. Cooperation With Authorities

Where required or permitted by applicable law, WorkSwiss may cooperate with competent authorities, courts, law-enforcement agencies, financial institutions, payment providers or other authorized parties in connection with financial-crime prevention and investigations.

Information may be disclosed where there is a valid legal basis or obligation to do so.

22. Client Responsibilities

Clients must provide accurate and truthful information and must not knowingly use WorkSwiss services to receive, conceal, transfer or otherwise deal with proceeds of unlawful activity.

Clients must not attempt to circumvent identity verification, payment controls, account restrictions or other security and compliance procedures.

23. Changes to This AML Policy

WorkSwiss may update this AML Policy from time to time to reflect changes in our services, risk-management procedures, payment methods, financial-crime risks or applicable requirements.

The current version will be published on our website together with its applicable revision date.

24. Related Policies

This AML Policy should be read together with our Terms and Conditions, KYC Policy, Privacy Policy, Deposit & Withdrawal Policy and other policies applicable to your account.

25. Contact

If you have questions regarding this AML Policy, please contact WorkSwiss through the official contact channels published on our website.