AML & financial crime

Checks are applied in proportion to the risk of the customer, product, market and transaction. Higher-risk relationships receive enhanced checks.

Individuals verify their identity with an identity document, a liveness check and proof of address. Businesses provide company information and details of directors, beneficial owners and authorised users, which our compliance team reviews. Each provider may carry out its own checks for the service it provides.

We may ask about the source of funds or wealth, the purpose of a payment or the relationship with a payer or payee, and for supporting documents. Answering accurately and promptly helps avoid delays.

Customers are screened against sanctions and other lists during verification and afterwards. Payments and transfers are screened, including blockchain-analysis checks on digital-asset transfers. Services are not provided to sanctioned persons or in comprehensively sanctioned jurisdictions.

Where the law requires it, information about the sender and recipient is collected and passed on with payments and crypto-asset transfers. A transfer may be delayed or returned if required information is missing.

Business accounts approved for customer collections or supplier payments may use them only for the activity, currencies and markets approved. Changes in activity need approval first.

We may pause, decline or restrict activity while information is reviewed. Suspicious activity is reported to the relevant financial intelligence unit or authority, and the law may prevent us from telling you a report has been made.

Obligations are allocated between the providers of each service, as named on Who provides your service. Each keeps the records the law requires for the required period.

Provide accurate information, keep it up to date, respond to requests and use NovaPayx in line with the Acceptable use policy. Contact: compliance@novapayx.com.

compliance@novapayx.com