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As a payment service provider, registered in Georgia, Pubark is fully committed to complying with all applicable laws and regulations regarding AML/CTF - Anti-Money Laundering and Counter-Terrorism Financing. Pubark is subject to AML regulations such as the Law of Georgia on Facilitating the Suppression of Money Laundering and Terrorism Financing, Orders issued by the Financial Monitoring Service of Georgia (FIU) on the Rules of Client Identification and Transaction Monitoring and Reporting, Orders issued by the National Bank of Georgia (Central Bank) on AML related standards and best practices. Additionally, Pubark adopts and implements internationally acknowledged standards and best practices into its AML-related daily operations.
Client’s data is used to verify the identity of Pubark’s users to comply with client identification and verification requirements, KYC (Know-Your-Customer) obligations, and monitoring and reporting requirements of any unusual or suspicious transactions of any size. We report suspicious transactions to the Financial Monitoring Service of Georgia (FIU).
To comply with global sanctions, we screen our client accounts against the sanctions lists.
As part of our AML procedure, we might ask you for some additional information/documents to provide to satisfy KYC requirements before or after the onboarding process.
Overall, our AML/CFT efforts serve to protect Pubark from misuse of its products and services and to protect its financial system from people engaged in money laundering, terrorist financing, fraud, and other types of financial crimes.