AML & KYC Policy

Last updated: 17 May 2026

GetsMotives Ltd maintains anti-money laundering (AML), counter-terrorist financing (CTF), and know-your-customer (KYC) controls for GetsMotives and KorePOS Merchants, in line with UK Money Laundering Regulations, FCA guidance where applicable, and payment partner requirements.

This policy supports Merchant Terms, Payment Terms, and Acceptable Use Policy.

---

1. Definitions

---

2. Purpose

We verify Merchants and monitor activity to:

• Prevent financial crime and fraud
• Protect payment networks and end customers
• Comply with legal and partner obligations
• Maintain integrity of the Platform

---

3. Onboarding verification

Before or during enabling payments, we and/or payment partners may require:

• Government-issued ID for directors, owners, or signatories
• Proof of address (utility bill, bank statement)
• Company registration documents and ownership structure
• Bank account verification (micro-deposits or open banking)
• Business description, website, and expected transaction profile
• MCC and industry classification

We may use third-party verification services and adverse media screening.

---

4. Ongoing monitoring

We may:

• Review transaction patterns for unusual volume, velocity, or geography
• Request updated documentation on renewal or material change
• Apply enhanced due diligence for high-risk sectors or PEPs
• Report suspicious activity to the National Crime Agency (NCA) where legally required without tipping off

---

5. Merchant cooperation

You must:

• Provide accurate, current information
• Notify us within 5 business days of changes to ownership, control, or business model
• Respond to information requests within stated deadlines
• Not attempt to obscure beneficial ownership

Failure to cooperate may result in suspension of payments and account closure.

---

6. Prohibited activity indicators

Examples triggering review:

• Transactions inconsistent with stated business type
• High refund or chargeback rates linked to fraud patterns
• Use of multiple accounts to circumvent limits
• Sanctions list matches
• Customer complaints indicating scam operations

---

7. Sanctions and restricted parties

You represent you are not subject to UK, EU, UN, or US sanctions and will not process payments for sanctioned persons or jurisdictions.

---

8. Record keeping

KYC records and transaction logs may be retained for at least five years after relationship end, or longer if required by law or investigation.

---

9. No legal advice

This policy is operational guidance, not legal advice. Seek independent counsel for your regulatory obligations.

---

10. Contact

Compliance: support@korepos.co.uk · Support: support@korepos.co.uk

Related: Merchant Terms · Payment Terms