COMPLIANCE & REGULATIONS

Schnl operates under strict regulatory frameworks in multiple jurisdictions. We maintain licenses and registrations with relevant financial authorities, including banking regulators, financial intelligence units, and data protection authorities. Our compliance framework is designed to meet or exceed international banking standards and regulatory requirements.

We are licensed and regulated by multiple financial authorities, including the Financial Conduct Authority (FCA) in the UK, the European Banking Authority (EBA), and other relevant regulatory bodies in jurisdictions where we operate. Our operations are subject to regular audits and examinations by these authorities to ensure continued compliance.

Our compliance team works closely with regulatory authorities to ensure we meet all requirements and maintain the highest standards of financial integrity. We regularly update our policies and procedures to reflect changes in regulatory requirements and industry best practices.

Our AML program is designed to prevent, detect, and report suspicious activities. We implement comprehensive customer due diligence procedures, transaction monitoring systems, and risk assessment frameworks. Our AML policies are regularly reviewed and updated to address emerging threats and regulatory requirements.

We conduct thorough customer verification processes, including identity verification, source of funds checks, and ongoing transaction monitoring. Our systems are designed to detect unusual patterns and potential money laundering activities. We maintain detailed records of all transactions and customer interactions as required by law.

Our AML team is trained to identify and report suspicious activities to relevant authorities. We maintain strong relationships with financial intelligence units and law enforcement agencies. We also participate in industry initiatives to combat financial crime and share best practices.

Our KYC procedures are powered by Veriff, a leading identity verification provider. We collect and verify various types of documentation, including government-issued IDs, proof of address, and source of funds information. Our verification process is thorough yet efficient, typically completed within 24-48 hours.

We implement risk-based KYC procedures, with enhanced due diligence for higher-risk customers. Our verification process through Veriff includes document authentication, biometric verification, and database checks. We maintain strict confidentiality of all customer information collected during the KYC process.

Our KYC team works closely with Veriff to ensure secure and efficient verification processes. We regularly update our verification procedures to incorporate new technologies and regulatory requirements. We also maintain detailed records of all KYC processes and decisions.

We comply with global data protection regulations, including GDPR, CCPA, and local data protection laws. Our data protection framework includes technical and organizational measures to ensure the security of personal information. We maintain comprehensive data protection policies and procedures.

Our data security measures include encryption, access controls, and regular security assessments. We implement strict data retention policies and secure data destruction procedures. We also maintain detailed records of data processing activities and security incidents.

We have appointed data protection officers in relevant jurisdictions to oversee compliance with data protection laws. Our privacy team regularly reviews and updates our data protection practices. We also provide training to all employees on data protection requirements and best practices.

We implement sophisticated transaction monitoring systems to detect and prevent suspicious activities. Our systems analyze transaction patterns, customer behavior, and risk indicators in real-time. We maintain comprehensive transaction monitoring policies and procedures.

Our monitoring systems are designed to detect various types of suspicious activities, including money laundering, terrorist financing, and fraud. We implement automated alerts and manual review processes. We also maintain detailed records of all monitoring activities and decisions.

Our compliance team regularly reviews and updates our transaction monitoring systems. We also participate in industry initiatives to share information about emerging threats and best practices. We maintain strong relationships with financial intelligence units and law enforcement agencies.

We maintain comprehensive records of all compliance-related activities, including customer due diligence, transaction monitoring, and suspicious activity reports. Our documentation procedures are designed to meet regulatory requirements and facilitate audits. We implement secure storage and retrieval systems for all compliance records.

We file regular reports with regulatory authorities, including suspicious activity reports, transaction reports, and compliance certifications. Our reporting procedures are designed to be accurate, timely, and compliant with regulatory requirements. We maintain detailed records of all regulatory filings and communications.

Our compliance team regularly reviews and updates our reporting and documentation procedures. We also conduct internal audits to ensure the accuracy and completeness of our records. We maintain strong relationships with regulatory authorities and respond promptly to any requests for information.