AML Policy

AML and Identity Verification Policy

Quantoz Payments B.V. hereafter referred to as “QP”, “we,” “our”, “us,” is an authorized electronic money institution (EMI) supervised by the Dutch Central Bank that offers a blockchain-based ecosystem for the issuance and redemption of an electronic money token (EMT) called EURD, hereafter referred to as “the Service”. Quantoz Payments B.V. is a company with limited liability, incorporated under the laws of the Netherlands.

This Anti-Money Laundering (‘AML’) Policy and Identity Verification Policy (collectively the ‘AML Policy’) is designed to stipulate the commitment of QP to detect, prevent and report attempts to use the Service to illegally launder money to finance illegal activities such as terrorism and drug trafficking, or to commit fraud. Money laundering is defined as the process where the identity of the proceeds of crime are so disguised that it gives the appearance of legitimate income. Criminals are known to target financial services firms through which they attempt to launder criminal proceeds without the firm’s knowledge or suspicions.

The Services provided by QP are regulated in The Netherlands. It is QP policy to comply with applicable laws and regulations regarding AML and identity verification (know your customer / KYC procedures) and to detect and prevent using its Services for money laundering or to facilitate criminal or terrorist activities.

Accordingly, the QP has implemented this AML Policy and accompanying systems and procedures to assess the risks posed by the QP Services and established controls to address those risks as required by law. While QP is committed to protecting its users’ privacy, it will not allow people to use its Services to launder money, commit fraud or other financial crimes, finance terrorist activities, or facilitate other illegal conduct.

QP AML Policy is based on the guidance of the Dutch National Bank (DNB) on the Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) Act (Wet ter voorkoming van witwassen en financieren van terrorisme / Wwft).

The DNB drew up this guidance on the recommendation of the Financial Action Task Force on Money Laundering (FATF) and provides tools enabling compliance with statutory obligations arising from integrity regulations.

If you have any questions relating to this AML Policy, the use of your Account, the Services, or any other matter, please contact us: contact@quantozpay.com

Last updated: September 2023.