Anti-Money Laundering and Financial Crime Prevention Statement

Eqwire UK Limited (“Eqwire”) is committed to maintaining a secure financial environment and preventing the misuse of its services for financial crime. Eqwire is authorised and regulated by the Financial Conduct Authority as an Electronic Money Institution and operates in accordance with applicable UK legal and regulatory requirements.

The firm maintains a comprehensive anti-financial crime framework designed to detect, prevent and report money laundering, terrorist financing, fraud, sanctions breaches and other forms of financial crime. We proactively implement measures to ensure that our business is not exploited for illicit purposes, while fostering a strong culture of compliance across the organization. Our approach is aligned with the UK Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (as amended), the Proceeds of Crime Act 2002, the Sanctions and Anti-Money Laundering Act 2018 and applicable regulatory guidance. Eqwire also takes into account international standards issued by the Financial Action Task Force.

Risk-Based Approach

Eqwire applies a risk-based approach to the management of financial crime risks. The firm conducts periodic business-wide risk assessments to identify and evaluate the money laundering, terrorist financing, fraud and sanctions risks associated with its products, services, customers, delivery channels and geographic exposure.

These assessments inform the design and implementation of proportionate policies, procedures and internal controls intended to mitigate identified risks. Higher-risk relationships and activities are subject to enhanced scrutiny and monitoring.

Customer Due Diligence

Eqwire performs appropriate customer due diligence before establishing a business relationship or providing regulated services. This includes verifying the identity of customers and, where applicable, beneficial owners.

The firm screens customers against relevant sanctions lists and performs checks for politically exposed persons and adverse media where appropriate. Where higher risk factors are identified, enhanced due diligence measures may be applied, which may include obtaining additional information regarding the nature of the relationship, source of funds or source of wealth.

Customer information is subject to periodic or event-driven reviews and may also be reassessed where material changes occur or where activity suggests a change in risk profile.

Transaction Monitoring and Financial Crime Controls

Eqwire maintains monitoring controls designed to identify potentially unusual or suspicious activity. Transactions are reviewed where they present indicators of potential financial crime risk, including activity involving higher-risk jurisdictions or patterns inconsistent with expected customer behaviour.

Where appropriate, alerts may be escalated internally for further assessment in accordance with the firm’s established procedures.

Suspicious Activity Reporting

Eqwire has established procedures for the internal escalation and assessment of concerns relating to potential money laundering or terrorist financing. Where required by law, suspicious activity reports are submitted to the appropriate authorities in accordance with applicable legislation.

Sanctions and Proliferation Financing

Eqwire complies with applicable UK sanctions legislation and related regulatory requirements. The firm maintains controls designed to prevent transactions involving sanctioned individuals, entities or jurisdictions.

In addition, Eqwire considers the risk of proliferation financing and incorporates relevant controls within its financial crime framework in line with regulatory guidance.

Fraud Prevention

Eqwire recognises that payment services may be exposed to fraud risks, including authorised push payment fraud and other forms of payment-related financial crime. The firm maintains controls designed to detect and mitigate such risks and to protect customers and the financial system.

Governance and Oversight

Responsibility for the effectiveness of Eqwire’s financial crime framework ultimately rests with the Board of Directors and senior management. The firm has appointed a designated Money Laundering Reporting Officer who is responsible for overseeing the implementation and operation of the firm’s anti-financial crime policies and procedures.

The framework operates through a governance structure that includes operational management controls, independent compliance oversight and periodic review processes.

Employee Awareness and Training

Eqwire provides appropriate training to employees to ensure they understand their responsibilities in identifying and responding to potential financial crime risks. Training is tailored to the nature of employees’ roles and is updated periodically to reflect regulatory developments and emerging risks.

Third-Party Oversight

Where third-party service providers are engaged to support the delivery of regulated services, Eqwire performs appropriate due diligence and maintains oversight arrangements designed to ensure that such relationships are managed in accordance with regulatory expectations.

Record Keeping and Data Protection

Eqwire maintains records relating to customer due diligence, transactions and financial crime controls in accordance with applicable legal and regulatory requirements. Records are retained for the required statutory period following the end of a business relationship.

The firm processes personal data in accordance with applicable data protection legislation.

Reporting Concerns

Employees and relevant stakeholders are encouraged to report concerns relating to potential financial crime or compliance issues through the firm’s established escalation channels, including whistleblowing arrangements where appropriate.

Our Commitment

Eqwire remains committed to maintaining a robust and effective financial crime prevention framework. Through continuous monitoring, governance oversight and periodic review of our controls, we aim to ensure that our services are not used for illicit purposes and that we continue to meet applicable regulatory standards.

For general enquiries relating to compliance matters, please contact:
[email protected]