QUIBO FINTECH LLC
Know Your Customer Policy

This KYC policy outlines the procedures and guidelines for QUIBO FINTECH LLC a Money Service Business (MSB – Money Transmitter) wich operates in the State of Florida to ensure compliance with the relevant laws and regulations, including those related to Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF).

1. Purpose

The purpose of this policy is to establish a framework to manage the risks associated with money laundering and terrorist financing by implementing appropriate measures to identify and verify the identity of customers, monitor their transactions, and report any suspicious activities.

2. Scope

This policy applies to employees, agents, and contractors of QUIBO FINTECH LLC and covers all customers and their transactions.

3. Customer Identification Program (CIP)

QUIBO FINTECH LLC implements a Customer Identification Program (CIP) that includes the following:

a. Collection of customer information:
QUIBO FINTECH LLC collects and verify the following information from each customer:
i. Full name.
ii. Date of birth.
iii. Address.
iv. Identification number (e.g., Social Security Number, Employer Identification Number, passport number).
v. Any other information required by applicable laws and regulations.

b. Verification of customer identity:
QUIBO FINTECH LLC uses reliable, independent sources to verify the identity of each customer. This may include:
i. Examining government-issued identification documents.
ii. Comparing the information provided by the customer to information available in public databases.
iii. Checking the customer’s name against relevant watch lists and sanctions lists.

c. Recordkeeping:
QUIBO FINTECH LLC retains records of our customer identification information and the methods used to verify the customer’s identity for a minimum of five years.

4. Ongoing Monitoring

QUIBO FINTECH LLC implements an ongoing monitoring program to detect and report any suspicious activities, our program includes:

a. Monitoring customer transactions (CTR):
QUIBO FINTECH LLC monitors customers transactions for any unusual or suspicious activity, including transactions that are inconsistent with the customer’s known legitimate business or personal activities.

b. Suspicious Activity Reporting (SAR):
QUIBO FINTECH LLC files Suspicious Activity Reports (SARs) with the appropriate authorities if it suspects or has reason to suspect that a transaction involves funds derived from illegal activities, is intended to facilitate illegal activities, or is designed to evade reporting requirements.

c. Enhanced Due Diligence (EDD):
QUIBO FINTECH LLC applies enhanced due diligence measures for high-risk customers, such as politically exposed persons (PEPs), customers with a history of criminal activity, or customers engaged in high-risk industries or transactions.

5. Training

QUIBO FINTECH LLC provides regular training to all employees, agents, and contractors on the requirements of this KYC policy, as well as applicable laws and regulations related to AML and CTF.

6. Review and Update

This policy will be reviewed and updated on an annual basis to ensure its continued effectiveness and compliance with any changes in applicable laws and regulations.