Anti-Money Laundering (AML) Policy

Debit-Online Company Limited (operating as Color-Oil) is committed to complying with all applicable anti-money laundering (AML) laws and regulations to prevent money laundering, terrorism financing, and other illegal activities. This AML Policy outlines the procedures we implement to ensure compliance and maintain a secure business environment.

Company Details:

Name: Debit-Online Company Limited
Address: 115/11 Rattanathibet Road, Bang Krasor Subdistrict, Mueang Nonthaburi District, Nonthaburi Province 11000, Thailand
Email: [email protected]

1. Purpose

This AML Policy aims to establish guidelines and procedures to detect, prevent, and report any suspicious activities related to money laundering and terrorism financing. We are dedicated to protecting our business from being used for illegal activities and to supporting government efforts to fight financial crime.

2. Scope

This policy applies to all employees, contractors, and third-party partners of Color-Oil, including anyone involved in financial transactions, customer onboarding, and transaction monitoring.

3. Customer Due Diligence (CDD)

To prevent illegal activities, Color-Oil conducts thorough Customer Due Diligence (CDD) on all new clients and partners. Our CDD process includes:

Identity Verification: Collecting and verifying personal information, such as name, address, date of birth, and government-issued identification, from customers where applicable.
Risk Assessment: Classifying customers into different risk categories based on factors such as geographic location, transaction volume, and type of product or service.
Enhanced Due Diligence (EDD): For high-risk customers, we may request additional documentation and conduct in-depth checks to verify their legitimacy.

4. Record Keeping

We are committed to maintaining accurate and up-to-date records of all customer transactions and verification documents. This ensures that we can readily access information if required by authorities. Color-Oil retains records of:

Customer Information: Including all documents collected during CDD and EDD processes.
Transaction Data: Details of all transactions processed on our website, including dates, amounts, and customer information.

Records are securely stored and retained for a minimum period as required by applicable AML regulations.

5. Monitoring and Reporting Suspicious Activities

Color-Oil actively monitors transactions to detect any unusual or suspicious activities. If any activity raises suspicion of money laundering or terrorism financing, we will take the necessary actions, including filing a Suspicious Activity Report (SAR) with relevant regulatory authorities.

Transaction Monitoring: Our system flags suspicious transactions, including those with high values, unusual patterns, or involving high-risk countries.
Suspicious Activity Reports (SARs): If suspicious activities are detected, Color-Oil will promptly report them to the appropriate regulatory body.

6. Employee Training

All employees involved in financial transactions and customer management undergo regular AML training to recognize, report, and prevent potential money laundering activities. Training covers:

AML Regulations: Updates on relevant laws and regulations.
Identifying Suspicious Activity: Guidance on recognizing signs of potential money laundering.
Reporting Requirements: Instructions on how to report suspicious activity internally and externally.

7. Responsibilities

Compliance Officer: Color-Oil designates a Compliance Officer responsible for overseeing AML compliance, maintaining records, and ensuring that the company adheres to relevant regulations.
Employees: All employees are responsible for complying with this AML Policy, identifying potential risks, and reporting suspicious activities to the Compliance Officer.

8. Policy Review and Updates

This AML Policy is regularly reviewed and updated to ensure compliance with changing laws, regulations, and industry standards. Any updates to this policy will be posted on our website.

9. Contact Information

If you have any questions regarding this AML Policy or wish to report suspicious activity, please contact us:

Email: [email protected]
Address: 115/11 Rattanathibet Road, Bang Krasor Subdistrict, Mueang Nonthaburi District, Nonthaburi Province 11000, Thailand

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