AML Policy

Equilibrium Floral commits to strict adherence to AML laws and regulations, affirming our pledge to avoid willful violations of AML policies...

Our AML policies constitute an extensive framework comprising international standards, encompassing the specific AML regulations applicable to respective jurisdictions.

Through our robust compliance infrastructure, Equilibrium Floral diligently upholds regulatory requisites and standards...

Money Laundering

Money Laundering, as defined by international regulations and legislation aimed at preventing money laundering and terrorist financing, encompasses the following:

1. Altering the legal status of Digital assets or transferring them...
2. Concealing or disguising the true nature, origin, source...
3. Acquiring, managing, or utilizing property while knowing...
4. Engaging in preparatory actions, attempting to commit...

Money laundering necessitates distinct criminalization apart from predicate offenses...

Stages of Money Laundering

AML Policy outlines three fundamental stages of money laundering:

• Placement: involves the introduction of unlawfully acquired funds into the financial system;
• Layering: focuses on distancing illicit funds from their source...
• Integration: reintroduction of laundered funds into the legal economy...

Terrorist Financing

Terrorist Financing refers to the deliberate provision or collection, by any means...

Equilibrium Floral is obliged to ensure that its Users:

• are not designated as terrorist organizations;
• not facilitating the funding of terrorist organizations.

Tax Evasion and Tax Fraud

Tax evasion and Tax fraud represent intentional efforts to avoid paying the full amount of taxes owed...

• voluntary omission or deliberate error in declarations;
• concealment of taxable amounts;
• organizing insolvency to evade Tax payment;
• employing other tactics to hinder Tax collection.

Bribery and Corruption

Bribery and Corruption encompass actions wherein an individual improperly offers, promises, or provides an undue advantage...

AML Regulation

International legislation that regulates AML Policy of Equilibrium Floral:

• International Convention for the Suppression of Terrorist Bombings – Adopted by the United Nations General Assembly on December 15, 2020.
• United Nations Convention against Illicit Traffic in Narcotic Drugs...
• Financial Action Task Force (FATF) 40 Recommendations...

Risk-Based Approach

Equilibrium Floral employs a risk-based approach in its AML strategy to manage risks inherent in its operations...

• identify the money laundering risks...
• carry out a detailed risk assessment...
• design and put in place controls...

Customer Due Diligence (CDD)

Customer Due Diligence (CDD) is key to understanding the AML compliance procedures on Equilibrium Floral...

Account Synchronization and Government Control

Equilibrium Floral ensures that all financial accounts on the platform are fully synchronized with the official financial registers of the Irish government...

Team Responsibility for Violations by One Member

Equilibrium Floral is committed to the principle of collective responsibility in cases where a team member is found to be in breach of AML policies...

Enhanced Due Diligence (EDD)

Equilibrium Floral must apply EDD measures on a risk-sensitive basis...

• Dealing with natural persons or legal entities established in the countries identified as high-risk countries;

• The background and purpose of all complex and unusually large transactions, and all unusual patterns of transactions which have no apparent economic or lawful purpose.

• Any account that has large transactional activity.

• Dealing with Users who may be Politically Exposed Persons, on Sanctions lists, or have Adverse Media.