MeridAx Ltd ("MeridAx") is committed to full compliance with all applicable Anti-Money Laundering (AML), Counter-Terrorist Financing (CTF), and Know Your Customer (KYC) laws, regulations, and standards in the jurisdictions in which we operate. This policy sets out our approach to identifying, assessing, and managing the risk of financial crime.
MeridAx maintains a zero-tolerance approach to money laundering, terrorist financing, and any form of financial crime. We will not knowingly facilitate or assist any person or entity engaged in such activities. All staff, contractors, and partners acting on behalf of MeridAx are required to adhere to this policy.
Before onboarding any client, MeridAx conducts thorough KYC due diligence including verification of the legal existence of the business entity and its registered address, review of operating licences and regulatory approvals, understanding the nature of the business and markets served, identification and verification of all beneficial owners holding 25% or more, screening against PEP databases, and screening against all applicable international sanctions lists including OFAC, EU, UN, and UK sanctions regimes.
MeridAx applies a risk-based approach. Each client is assessed and assigned a risk rating — low, medium, or high — based on the nature of their business and vertical, the jurisdiction(s) of incorporation and operation, the geographic profile of their customer base, ownership structure and corporate complexity, PEP status or adverse media, and historical transaction volumes and chargeback ratios. Higher-risk clients are subject to Enhanced Due Diligence (EDD) and more frequent ongoing monitoring.
KYC is not a one-time exercise. MeridAx conducts ongoing monitoring including periodic review and refresh of KYC documentation, monitoring of transaction patterns for unusual or suspicious activity, continuous sanctions screening as lists are updated, and monitoring of adverse media and regulatory actions relating to existing clients.
Where MeridAx suspects that a client or associated transaction may be connected to money laundering, terrorist financing, or other financial crime, we are required to — and will — file a Suspicious Activity Report (SAR) with the relevant financial intelligence unit. We will not tip off the client that a SAR has been filed.
MeridAx retains all KYC documentation and transaction records for a minimum of five years from the end of the client relationship, or such longer period as required by applicable law. Records are maintained securely and made available to regulatory authorities upon request.
MeridAx will not onboard or service clients engaged in any activity that is illegal in their jurisdiction of operation, the sale of counterfeit goods or intellectual property infringement, online gambling in jurisdictions where such activity is unlicensed or prohibited, any activity subject to applicable international sanctions, Ponzi schemes, pyramid schemes, or other fraudulent business models, or the trade or facilitation of human trafficking or exploitation.
All MeridAx staff involved in client onboarding, relationship management, or transaction monitoring are required to complete AML and KYC training on appointment and at regular intervals thereafter.
MeridAx maintains a designated Compliance Officer responsible for overseeing and implementing this AML & KYC Policy, ensuring regulatory compliance, and serving as the point of escalation for all financial crime concerns.
All clients are required to fully cooperate with MeridAx's KYC and AML processes. Failure to cooperate may result in suspension or termination of services.
For compliance-related enquiries, please contact us at [email protected] or +1-289-MERIDAX (+1 289-637 4329).