Effective date: July 29, 2024

These terms represent a binding legal agreement between Roxa and its users. By accessing our digital payment platform, you acknowledge and accept the following provisions without reservation. We maintain the right to modify these terms at any time, with changes becoming effective immediately upon posting.

Introduction

ROXA DIGITAL LTD is a Malta registered company providing the ‘ROXA’ an innovative voucher token, ensuring a seamless payment experience.  The business of the Company is low risk in relation to money laundering, however in order to prevent any of our services being used (or potentially used) for any money laundering activity, as well as any of our staff being exposed to money laundering, we wish to put in place the following anti-money laundering policy which supplements the anti-money laundering training given to all members of staff.

Scope of the Policy

The broad definition of money laundering means that potentially anyone could commit a money laundering offence, this includes all employees of the Company, all temporary staff and contractors.

Our policy is to enable the Company to meet its legal and regulatory requirements in a way which is proportionate to the low risk nature of the business, by taking reasonable steps to minimise the likelihood of money laundering occurring.

All employees must be familiar with their legal responsibilities.

What is Money Laundering?

The principal primary legislation is the PREVENTION OF MONEY LAUNDERING ACT (CAP.373 of the Laws of Malta), which consolidated, updated and reformed the law with regard to money laundering.

Money laundering can be defined as the process of concealing the source of funds obtained from illegal activity, typically through the use of the financial system, so that it appears to be from a legitimate source.

There are also several secondary offences, failure to disclose knowledge or suspicion of money laundering to the Money Laundering Reporting Officer (MLRO); failure by the MLRO to disclose knowledge or suspicion of money laundering to the National Crime Agency; and ‘tipping off’ whereby somebody informs a person or persons who are, or who are suspected of being involved in money laundering, in such a way as to reduce the likelihood of their being investigated or prejudicing an investigation.

Any member of staff could potentially be caught by the money laundering provisions, if they suspect money laundering and either become involved with it in some way, and/or do nothing about it. This Policy sets out how any concerns should be raised.

Money Laundering Reporting Officer (MLRO)

The Company will appoint a MLRO to receive disclosures about money laundering activity and be responsible for anti-money laundering activity within the Company. The officer nominated to do this is Eva Omirou.

The MLRO will ensure that appropriate training and awareness is provided to new and existing employees/temporary staff/contractors and that this is reviewed and updated as required.

The MLRO will ensure that appropriate anti-money laundering systems and processes are incorporated by the Company.

Suspicions of Money Laundering

All employees/temporary staff/contractors must immediately or as soon as practicably possible report any knowledge of or suspicion of (or where there are reasonable grounds to suspect) suspicious activity to the MLRO in the prescribed form as set out in this policy document.

Once the matter has been reported to the MLRO, the employee/temporary staff/contractor must follow the directions given to him/her and must NOT make any further enquiry into the matter.

The employee/temporary staff/contractor must NOT voice any suspicions to the person(s) whom they suspect of money laundering, as this may result in the commission of the offence of “tipping off”. They must NOT discuss the matter with others or note on the file that a report has been made to the MLRO in case this results in the suspect becoming aware of the situation.

Consideration of the Disclosure by the MLRO

Once the MLRO has received the report, it must be evaluated in a timely manner in order to determine whether:

There is actual or suspected money laundering taking place; orThere are reasonable grounds to know or suspect that this is the case; andWhether the MLRO needs to lodge a Suspicious Transaction Report (STR) with the Financial Intelligence Analysis Unit (FIAU).Where the MLRO concludes that there are no reasonable grounds to suspect money laundering then consent will be given for any on-going or imminent transaction(s) to proceed.

Where consent is required from the FIAU for a transaction to proceed, then the transaction(s) in question must not be undertaken or completed until the FIAU has given specific consent, or there is deemed consent through the expiration of the relevant time limits without objection from the FIAU.

All disclosure reports referred to the MLRO and reports made to the FIAU will be retained by the MLRO in a confidential file kept for that purpose, for a minimum of 3 years.

The MLRO must also consider whether additional notifications and reports to other relevant enforcement agencies should be made.

Customer Identification and Due Diligence

Due diligence is performed on all customers who must provide basic information including full name, address, date of birth and e-mail address.

Enhanced Due Diligence

It may be necessary for the Company to carry out enhanced due diligence on certain customers where the customer or a transaction involving the customer appears to be “high risk”. This means that there is a higher level of identification and verification of the customer’s identity required. The following non-exhaustive list of situations may indicate a “high risk”:

a new customer; a customer not well known to the Company; customers in known high risk industries and/or jurisdictions; transactions that are unusual or appear to be unusual for that customer; highly complex transaction or payment arrangements; the transaction involves a politically exposed person (“PEP”) or an immediate family member or a close associate of a PEP;no face to face meetings take place with the customer where this is usually expected; andEmployees/temporary staff/contractors must assess the money laundering risk for each customer and if you suspect enhanced due diligence is required, you should speak to the MLRO before continuing any engagement with the customer. The MLRO will be required to approve the continuance of the business relationship.

If enhanced due diligence is carried out, the MLRO must:

obtain additional information on the customer and on the customer’s beneficial owner(s);obtain additional information on the intended nature of the business relationship; obtain information on the source of funds and source of wealth of the customer and customer’s beneficial owner(s); and conduct enhanced monitoring of the business relationship.This may include but is not limited to the following:

checking the organisation website to confirm the identity of personnel, its business address and any other details; attending the customer at their business address; obtaining additional information or evidence to establish the identity of the customer and its beneficial owner(s), including checking publicly available beneficial ownership registers of legal entities such as the registers available at Companies House; in the case of a PEP, seek the approval of senior management and establish the source of wealth and source of funds; ensure that the first payment is made into a bank account in the customer’s name;If satisfactory evidence of identity is not obtained at the outset then the business relationship or one-off transaction(s) cannot proceed any further. A report should be filed with the MLRO who will then consider if a report needs to be submitted to the FIAU.

Ongoing Monitoring

Employees/temporary staff/contractors should review customers at regular intervals to ensure that the risk level of each customer information and information held on each customer is not only accurate and up to date but is consistent with the knowledge of the customer and its business. Further due diligence may be required if new people become involved at a customer. Any suspicious activity must be reported to the MLRO.

Data Protection

Customer details must be collected in accordance with the Data Protection Act (CAP.586 of the Laws of Malta). This data can be “processed” as defined under the Data Protection Act (CAP.586 of the Laws of Malta) to prevent money laundering and terrorist financing.

Record Keeping

Customer identification evidence and details of any relevant transaction(s) for that customer must be retained for at least 3years from the end of any business relationship with that customer.

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Users are responsible for maintaining the confidentiality of their account credentials and all transactions conducted through the Roxa platform. Any unauthorized access or fraudulent activity must be reported immediately to our support team.

Roxa provides digital payment services with the understanding that users will engage in lawful transactions only. We reserve the right to suspend or terminate accounts that violate our terms or engage in suspicious financial activities.

Liability for any financial losses or damages is limited to the extent permitted by applicable law. Users acknowledge that digital payment platforms inherently carry technological and financial risks.

By continuing to use Roxa's services, you confirm your understanding and acceptance of these comprehensive terms and conditions.