As per Anti-money laundering legislation in effect not only in Ukraine but in most countries makes it necessary for Makoli to make public the company’s policy to ensure we comply with money laundering regulations and not accept payments that expose Makoli to possible criminal fines and penalties.
Money laundering is the act of converting money or other monetary instruments gained from illegal activity into money or investments that appear to be legitimate so that its illegal source cannot be traced. Law No 249-IV with all changes and amendments makes it illegal for Makoli and its employees to knowingly engage, or attempt to engage in a monetary transaction in criminally derived property.
Makoli views Money Laundering as a serious criminal offence, and as such, complies with regulatory requirements intended to forestall and prevent money laundering. These include:
- Retaining transaction and identification records for a minimum period of five years.
- Training staff continuously in terms of anti-money laundering regulations.
- Monitoring and reporting any and all suspicious activities.
- Supervise and oversee that all transactions and information in the system is correct and complies with applicable laws.
Please note that Makoli under aforementioned law has the right to refuse a transaction at any time should suspicion arise that it may be connected to money laundering or any other criminal activity. In addition, Makoli will be obliged to report this suspicious activity in order to comply with said regulations, and internationally accepted laws and customs which also prohibits Makoli from disclosing this information.
Providing Makoli with false identification or contact details will be deemed as a misuse of our terms of service. Makoli is legally bound to report such misdemeanors to the Ukrainian authorities, and as such you may be the subject to a criminal investigation.
Makoli will NOT do business with anyone suspected of, or directly involved in Money Laundering, or where funds have been sourced by any illegal activity.