AML Anti-Money-Laundering policy of http://www.khalaspay.ca
Introduction:
Khalaspay.ca is operated by Khalaspay Technology Ltd. with its Ontario Corporation Number: 1000533096 and registered office located at 5000 Yonge St, App./bureau 1901, Markham, Ontario, Canada, M2N 7E9. Objective of the AML Policy: We seek to offer the highest security to all of our users and customers on Khalaspay.ca for that a two-steps account verification is done in order to insure the identity of our customers. The reason behind this is to prove that the details of the person registered are correct and the deposit methods used are not stolen or being used by someone else, which is to create the general framework for the fight against money laundering. We also take into accord that depending on the nationality and origin, the way of payment and for withdrawing different safety measurements must be taken. Khalaspay.ca also puts reasonable measures in place to control and limit ML risk, including dedicating the appropriate means.
Khalaspay.ca is committed to high standards of anti-money laundering (AML) according to the Canada guidelines, compliance and requires management & employees to enforce these standards in preventing the use of its services for money laundering purposes. The AML program of Khalaspay.ca is designed to be compliant with Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) which enacted: 2000 (with multiple updates, latest major ones in 2021–2023) on the prevention of the use of the financial system for the purposes of money laundering and to detect and deter money laundering and terrorist financing, and to facilitate investigations.
Definition of money laundering:
Money Laundering is understood as:
The conversion or transfer of property, especially money, knowing that such property is derived from criminal activity or from taking part in such activity, for the purpose of concealing or disguising the illegal origin of the property or of helping any person who is involved in the commission of such an activity to evade the legal consequences of that person’s or companies action; The concealment or disguise of the true nature, source, location, disposition, movement, rights with respect to, or ownership of, property, knowing that such property is derived from criminal activity or from an act of participation in such an activity; The acquisition, possession or use of property, knowing, at the time of receipt, that such property was derived from criminal activity or from assisting in such an activity; Participation in, association to commit, attempts to commit and aiding, abetting, facilitating and counseling the commission of any of the actions referred to in points before. Money laundering shall be regarded as such even when the activities which generated the property to be laundered were carried out in the territory of another Member State or in that of a third country.
Organization of the AML for Khalaspay.ca:
In accordance with the AML legislation, Khalaspay.ca has appointed the “highest level” for the prevention of ML: The full management of Khalaspay Technology Ltd. is in charge. Furthermore, an AMLCO (Anti Money Laundering Compliance Officer) is in charge of the enforcement of the AML policy and procedures within the System. The AMLCO is placed under the direct responsibility of the general Management: AML policy changes and implementation requirements: Each major change of Khalaspay.ca AML policy is subject to be approval by the general management of Khalaspay Technology Ltd. and the Anti money laundering compliance officer.
KYC policy of Khalaspay.ca
There are two-steps of Verification on Khalaspay.ca :
Step-one verification:
Step-one verification must be done by every user and customer to place the orders. Regarding of name, gender, nationality, email address and physical address of the user/customer step one verification must be done first. Step one verification is a online registration form that must be filled out by the user/customer himself. After the registration and verified the email, customer can continue the services on our website.
Step-two verification:
Step-two verification must be done by every user which placing the 1st order over 200$ (two hundred Dollars) or daily total orders’ value over 2000$ (two thousand Dollars), once above condition comes to any users, our customer support agent will contact the customer with requesting more supporting documents like Passport/ID copies and screenshot of last 4 digits of debit/credit cards which the user used for online payment on our website in order to verify his profiles and make sure he has the fully authorization for his online payments. Usually we fulfill the order manually after the verification of users’ profiles and payments, so there is no space for continuous fraud orders through our website.
Contact us:
If you have any questions or complaints about our AML Policy, please contact us by email: info@khalaspay.ca