How we protect your accounts
Financial Crime Prevention measures in Sage Payments
Sage Payments are committed to helping the fight against financial crime and adopts stringent policies and procedures to help prevent money laundering and other forms of financial crime.
Our two key Policy principles are
- Sage Payments will not tolerate money laundering and terrorist financing and will establish and maintain effective measures to prevent, detect, and report all cases of actual or suspected money laundering or terrorist financing
- Sage Payments will fully comply with all extant and applicable laws and regulations. Any areas of non-compliance with laws and regulation will be escalated by the MLRO and a risk mitigation plan implemented
Sage Payments are intent on satisfying the requirements of our local regulatory and legislative obligations and have designed our Policies, Procedures and Systems to meet these requirements.
Customer due diligence/ Know your customer/ Know your business:
To comply with our legal obligations we will ask you to provide us with information for you and your business in order to verify your application. We may also ask you to provide documentation to verify these details.
Monitoring for suspicious activity and transactions:
Sage Payments has adopted a risk based approach and our systems continuously monitor for suspicious activity in line with this approach.
Monitoring of sanctions and terrorist financing lists:
To comply with our obligations to not carry out prohibited business we continually monitor activity against proscribed sanctions and terrorist financing lists.
Monitoring of Politically Exposed Persons (PEPs):
To comply with our obligations to identify Politically Exposed Persons (PEPs) we continually monitor activity against Politically Exposed Persons lists.
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