CryptoPerformance Group
Terms & Condition
Global Performance Group OOD (LLC) – Republic of Bulgaria
v.2024.1.5.
CryptoPerformance Group
Terms & Condition
Global Performance Group OOD (LLC) – Republic of Bulgaria
v.2024.1.5.
AML / CFT Summary
Global Performance Group LLC AML/CFT Compliance Summary
At Global Performance Group LLC, we prioritize the security and integrity of our financial services. In alignment with our commitment to compliance with both international and national regulations, we have established comprehensive identification and verification processes designed to protect our clients and prevent the misuse of our services. These measures are specifically tailored to adhere to the Law on Measures Against Money Laundering and the Law on Measures Against Financing of Terrorism.
Why We Collect Your Information
Our dedication to regulatory compliance and effective risk management necessitates the implementation of detailed due diligence procedures. This approach is crucial in ensuring that our clients are not engaged in illegal activities such as money laundering or terrorism financing. By collecting and verifying your personal and business information, we can:
- Verify Your Identity and Legitimacy: Establish that all clients are who they claim to be, thereby reducing the risk of identity fraud.
- Ensure Integrity and Transparency in Financial Transactions: Protect the reputation and credibility of our services by promoting transparent operations.
- Comply with Legal Requirements: Adhere to laws designed to protect the financial system from being exploited for criminal purposes, thereby fostering a secure financial environment.
What Information Do We Collect?
Global Performance Group LLC may collect the following information during the client onboarding process, depending on whether you are an individual or a corporate client:
For Individual Clients:
- Full name, date of birth, and place of birth.
- Official identification number (such as personal ID, passport, or residency card).
- Current nationality and any additional citizenships held.
- Residential address and proof of address (e.g., utility bills, bank statements).
- Status as a Politically Exposed Person (PEP) or connections to a PEP.
- Source of funds and wealth, particularly in cases involving significant or unusual transactions.
For Corporate Clients:
- Full company name, legal form, and registration number.
- Proof of business address and headquarters.
- Identification of directors and legal representatives.
- Information on the company’s Ultimate Beneficial Owners (UBOs)—individuals who ultimately own or control the business.(=>25%)
- Details regarding the company’s structure, including shareholding and management.
- Description of business activity, scope of operations, and expected transaction volumes.
- Relevant licenses, certifications, or registrations, if applicable.
How We Verify Your Information
To ensure the accuracy and reliability of the information provided, Global Performance Group LLC employs thorough verification processes utilizing independent and trustworthy sources. The verification process includes:
- Document Verification: We validate essential documents such as passports, identification cards, corporate certificates, and proof of address to confirm authenticity.
- Cross-Referencing Registries: For corporate clients, we cross-check information with public databases and commercial registries to confirm the legitimacy of the company and its beneficial owners.
- Enhanced Due Diligence: In cases where a client is assessed as high-risk, such as when they are classified as a Politically Exposed Person (PEP), engaged in complex transactions, or operating in a high-risk jurisdiction, we implement enhanced scrutiny measures to ensure comprehensive due diligence. This enhanced due diligence process may include:
- Increased Frequency of Reviews: High-risk clients will be subject to more frequent monitoring and review of their transactions and account activities. This ongoing oversight helps us detect any unusual patterns or anomalies that may indicate potential illicit activity.
- Collection of Supplementary Documentation: We may request additional documentation beyond the standard onboarding requirements. This can include:
- Financial Statements: Detailed financial reports, including balance sheets and income statements, to assess the client’s financial stability and the legitimacy of their source of funds.
- Legal Agreements: Contracts or agreements related to the client’s business operations to verify the nature and purpose of their transactions.
- Tax Returns: Recent tax returns to provide insight into the client’s income sources and financial history.
- Business Plans: For corporate clients, we may require a comprehensive business plan that outlines their operations, revenue generation strategies, and anticipated growth trajectories.
- Source of Wealth Documentation: Evidence that clarifies the origins of the client’s wealth, including inheritance documents, sale agreements, or proof of ownership of assets.
- Enhanced Transaction Monitoring: We utilize sophisticated transaction monitoring systems that flag unusual or suspicious activities in real-time. High-risk clients will have their transactions scrutinized with heightened sensitivity to detect patterns that may indicate money laundering or other illegal activities.
- Interviews and Consultations: In certain cases, we may conduct in-depth interviews or consultations with the client to gain a clearer understanding of their business operations, sources of income, and any potential red flags associated with their activities.
- Third-Party Reports: We may seek independent verification from third-party sources, such as legal or financial advisors, to corroborate the information provided by the client. This can include background checks or assessments from reputable agencies specializing in risk management.
- Ongoing Risk Assessment: Our risk assessment framework is dynamic, meaning that we continually assess and reassess the risk profile of high-risk clients. Any significant changes in a client’s circumstances, such as alterations in ownership structure, shifts in business activities, or emerging negative media reports, may trigger a reevaluation of their risk status and the corresponding due diligence measures.
- Collaboration with Regulatory Authorities: For clients operating in jurisdictions identified as high-risk by regulatory bodies, we may collaborate with relevant authorities to ensure compliance with international standards and address any emerging concerns.
When We Apply Enhanced Due Diligence
Enhanced Due Diligence (EDD) is enacted in scenarios where a higher risk of money laundering or terrorism financing is identified. This rigorous approach is essential for safeguarding our organization and ensuring compliance with regulatory requirements. The following scenarios may trigger the application of EDD:
- Clients Engaged in High-Risk Sectors: Clients operating in industries known for heightened risks, such as cryptocurrencies, cash-intensive businesses (e.g., casinos, bars, and restaurants), and online gaming, require closer scrutiny. These sectors are often associated with greater potential for illicit activities due to the nature of their transactions, which can lack transparency and traceability.
- Clients Operating in High-Risk Jurisdictions: Clients based in or conducting business with countries that regulatory bodies or international authorities classify as high-risk due to factors such as weak anti-money laundering (AML) frameworks, political instability, or a history of financial crime may be subject to EDD. We continually monitor these jurisdictions, staying informed about any changes in their risk status.
- Politically Exposed Persons (PEPs): Clients who are classified as PEPs—individuals holding prominent public positions or those closely associated with them—require enhanced scrutiny due to their potential exposure to corruption and bribery. The EDD process for PEPs includes understanding their source of wealth, the nature of their business engagements, and the relationships that may impact their transactions.
- Complex Transactions Lacking Clear Economic or Legal Purpose: Transactions that are intricate or opaque in nature, especially those that do not have an apparent business rationale, will trigger EDD protocols. This includes cases where transactions involve multiple layers, such as shell companies or convoluted structures that obscure the ultimate beneficial ownership or purpose of the transaction.
- Unusual Patterns of Activity: If a client’s transaction behavior deviates from their established patterns—such as sudden increases in transaction volumes, large cash deposits, or transfers to jurisdictions known for financial secrecy—EDD will be applied to investigate the underlying reasons for these anomalies.
- Negative Media Coverage or Adverse Information: Clients who appear in negative media reports or who have been subject to investigations by law enforcement or regulatory authorities for potential financial misconduct will be subject to EDD. This includes conducting thorough background checks to assess any potential reputational risks.
- Historical Compliance Issues: Clients with a history of non-compliance with AML/CFT regulations, either domestically or internationally, will trigger EDD. This may involve examining their past dealings, the nature of any previous violations, and their subsequent actions to rectify compliance issues.
Who We Will Not Onboard
In accordance with our internal policies and global AML/CFT regulations, Global Performance Group LLC reserves the right to refuse onboarding certain clients. We will not onboard clients who:
- Cannot Be Verified: We are unable to verify the identity of the client, the beneficial owner, or other key individuals involved in the business. This includes cases where identification documents are incomplete or unreliable.
- Are Involved in High-Risk Activities: Clients associated with industries, jurisdictions, or business activities that pose a significant risk for money laundering, terrorism financing, or other criminal activities.
- Politically Exposed Persons (PEPs) and Related Individuals: While we may onboard PEPs, such clients will be subject to enhanced due diligence. In cases where we assess the risks as too high, we may decline to onboard.
- Engage in Suspicious or Unlawful Activities: Clients suspected of involvement in illegal activities, such as fraud, tax evasion, money laundering, or financing terrorism, will not be onboarded.
- Are Listed on Sanctions Lists: Clients who appear on official sanctions lists or are required by law to have their assets frozen will be refused. This includes individuals and businesses subject to financial sanctions or restrictive measures.
- Provide Conflicting Information on Beneficial Ownership: If discrepancies are found between the beneficial ownership data provided by the client and that available in public registries (e.g., the Bulgarian Commercial Register), we will not proceed with the onboarding process until the issues are resolved.
Why We Need This Process
The identification and verification of clients are not only regulatory requirements but also critical safeguards against illegal activities. By ensuring that we possess a clear understanding of our clients and their business activities, we can:
- Protect Your Interests: By verifying client identities and transactions, we help safeguard your assets and protect your financial dealings.
- Ensure Compliance: We must comply with local and international laws designed to prevent money laundering, financing of terrorism, and other illegal activities.
- Maintain a Secure Environment: By onboarding only verified and legitimate clients, we create a safe, trustworthy environment for all our clients and business partners.
By completing this process, you are assisting Global Performance Group LLC in maintaining the highest standards of security and integrity in all financial transactions. Your cooperation is invaluable in helping us uphold a secure financial landscape.
Safety : CryptoPerformance operates under the rules of financial, operational and legal safety, as well as AML and KYC regulations. All transactions are processed via encrypted HTTPS connections with the use of safe TLS protocols and encryption algorithms.
CryptoPerformance is a trade platform for crypto currencies
CryptoPerformance Platform is a buy and hold platform for crypto values operated by Global Performance Group OOD (LLC). The company is officially registered (Reg. No: BB – 137 /05.01.2023) in Sofia – Republic of Bulgaria as a EU provider of activities of a virtual currency exchange operator and a deposit virtual currency operator.
Legal Disclaimer:
Investments in cryptocurrencies are connected with the possibility of a loss for the Users, even with a small change in the price of the underlying instrument in the form of cryptocurrency. It is not possible to make a profit on cryptocurrencies without exposing yourself to the risk of incurring a loss. When making investment decisions, the User should be guided by his own judgment.
Copyright ©️ 2019-2024 CryptoPerformance Group. All Rights Reserved.
Safety : CryptoPerformance operates under the rules of financial, operational and legal safety, as well as AML and KYC regulations. All transactions are processed via encrypted HTTPS connections with the use of safe TLS protocols and encryption algorithms.
CryptoPerformance is a trade platform for crypto currencies
CryptoPerformance Platform is a buy and hold platform for crypto values operated by Global Performance Group OOD (LLC). The company is officially registered (Reg. No: BB – 137 /05.01.2023) in Sofia – Republic of Bulgaria as a EU provider of activities of a virtual currency exchange operator and a deposit virtual currency operator.
Terms
Legal Disclaimer:
Investments in cryptocurrencies are connected with the possibility of a loss for the Users, even with a small change in the price of the underlying instrument in the form of cryptocurrency. It is not possible to make a profit on cryptocurrencies without exposing yourself to the risk of incurring a loss. When making investment decisions, the User should be guided by his own judgment.
Copyright ©️ 2019-2024 CryptoPerformance Group. All Rights Reserved.