LookCard adheres to strict anti-money laundering (AML) regulations through a comprehensive compliance program. The key components of LookCard’s AML compliance include:

1. Customer Due Diligence (CDD):
   LookCard implements rigorous KYC procedures to verify the identity of all customers during the account registration process. Customers are required to provide valid identification documents such as a passport or HKID card, which are thoroughly verified.
   
2. Transaction Monitoring:
   LookCard uses advanced technology to monitor transactions in real-time, identifying and flagging any suspicious activities or patterns that may indicate money laundering. Transactions are assessed for risk based on various factors, including transaction amount, frequency, and geographical location.
   
3. Reporting and Record-Keeping:
   LookCard promptly reports any suspicious activities to the relevant authorities, in compliance with AML regulations. LookCard maintains detailed records of all transactions and customer information for the required period as mandated by law.
   
4. Employee Training:
   LookCard conducts regular training programs for employees to ensure they are well-versed in AML regulations and can effectively identify and handle suspicious activities. Employees are kept informed of any updates or changes in AML regulations to ensure continuous compliance.
   
5. Compliance Audits: 
   LookCard undergoes periodic internal and external audits to review and enhance its AML compliance program. Feedback from audits is used to continuously improve LookCard’s AML policies and procedures.
   

What should I do if I suspect a money laundering activity?
If you suspect any money laundering activity, please contact LookCard’s customer support team immediately to report your suspicions. Provide as much detail as possible about the suspicious activity to assist in the investigation.

How does LookCard ensure the privacy of my personal information while complying with AML regulations?LookCard ensures the privacy of your personal information by implementing robust data protection measures, including encryption and access controls; ensuring that all customer information is handled with the utmost confidentiality and used solely for AML compliance and regulatory purposes.