Anti-Money Laundering (AML) and Know Your Customer (KYC) Policy
SKTEAMGLOBAL

1. Purpose

This policy outlines SKTEAMGLOBAL’s commitment to detecting, preventing, and reporting money laundering and terrorist financing activities. It ensures compliance with applicable local and international regulations, including FATF guidelines and any relevant national AML legislation.

2. Scope

This policy applies to:

• All employees, contractors, and agents of SKTEAMGLOBAL
• All customers, vendors, and third-party partners
• All business units, products, and services offered by the organization

3. Definitions

AML: Anti-Money Laundering
KYC: Know Your Customer
CDD: Customer Due Diligence
EDD: Enhanced Due Diligence
PEP: Politically Exposed Person
MLRO: Money Laundering Reporting Officer

4. Customer Due Diligence (CDD)

SKTEAMGLOBAL performs identity verification and background screening to ensure that all customers are legitimate. Required documents:

• Full name, date of birth, nationality, and proof of address
• Government-issued ID or passport
• Valid phone number and email address
• Business entities must provide company registration documents and beneficial ownership info

5. Enhanced Due Diligence (EDD)

EDD is applied when dealing with high-risk customers, transactions, or jurisdictions. It includes:

• Verification of source of funds and wealth
• Additional documentation
• Ongoing monitoring of transactions
• Approval by senior management

EDD applies to:

• PEPs
• Crypto-related services
• High-volume or unusual transaction activity
• Users from sanctioned or high-risk countries

6. Ongoing Monitoring

SKTEAMGLOBAL monitors all customer transactions to identify suspicious or inconsistent behavior. Monitoring tools may include:

• Automated flagging systems
• Risk scoring models
• Periodic profile reviews

7. Reporting Suspicious Activity

All employees must report suspicions of money laundering or terrorist financing to the MLRO without delay. The MLRO will:

• Investigate reported activity
• File Suspicious Activity Reports (SARs) with competent authorities, if required
• Maintain confidentiality throughout the process

8. Record Keeping

All KYC, transaction, and investigation records are securely stored for a minimum of 5 years from the end of the business relationship. SKTEAMGLOBAL ensures data protection in line with applicable privacy regulations.

9. Internal Controls & Training

• Annual AML/KYC training for relevant staff
• Regular audits of compliance procedures
• Appointment of a qualified MLRO responsible for policy implementation and regulatory communication

10. Compliance Officer / MLRO

SKTEAMGLOBAL shall appoint a Money Laundering Reporting Officer (MLRO), responsible for:

• Oversight of AML/KYC compliance
• Handling of SARs
• Liaison with law enforcement and regulators

11. Sanctions Compliance

SKTEAMGLOBAL screens all customers against recognized sanctions lists, including:

• United Nations (UN)
• Office of Foreign Assets Control (OFAC)
• European Union (EU)

This policy is reviewed annually and updated as necessary to remain compliant with evolving laws and regulatory expectations.