Anti Money Laundering and Terrorist Financing Policy
Daskapital's policy for preventing involvement in money laundering and terrorist financing
1. GENERAL PROVISIONS
This document, which corresponds to the policy for preventing involvement in money laundering and terrorist financing (AMLTF) operations, has been drawn up in accordance with Law no. 83/2017 of August 18 of the Portuguese Republic, amended by Law no. 58/2020 of August 31, which transposes preventive and repressive measures to combat money laundering and terrorist financing ("Law 83/2017").º 58/2020 of August 31, which establishes preventive and repressive measures to combat the laundering of ill-gotten gains and the financing of terrorism ("Law 83/2017"), which transposes into the Portuguese legal system Regulation (EU) 2015/849 of the European Parliament and of the Council of May 20, 2015, Law no. 97/2017 of August 23.
Daskapital has outsourced all payments and movements of funds made via the Platform to the payment service provider Mangopay. This payment entity, registered under number B173459 in the Luxembourg Commercial Register, is authorized to receive, transfer and collect funds in the European Union and the European Economic Area from Users in electronic currency and is supervised by the Luxembourg Financial Sector Supervisory Commission (CSSF), is obliged to ensure, with a high level of rigor, compliance with the obligations laid down by law, in particular Directive (EU) 2015/2366 of the European Parliament and of the Council of November 25, 2015 (revised Payment Services Directive, or PSD2), transposed into the Portuguese legal system with the publication of Decree-Law no.91/2018, of November 12, through appropriate procedures to combat and prevent money laundering and terrorist financing operations, in accordance with Law 83/2017.
Daskapital's Compliance Officer will require the payment service provider to comply with its AMLTF obligations at all times.
Daskapital believes that the prevention of operations of this nature essentially requires knowledge of the Investors and Beneficiaries of the Platform's collaborative financing projects.
Therefore, in carrying out its business, Daskapital has adopted a set of mechanisms and procedures aimed at preventing involvement in operations to combat the laundering of illicit proceeds and the financing of terrorism. The mechanisms described above should always be read together and interpreted in accordance with Law 83/2017 of the Portuguese Republic and the respective regulations.
2. DEFINITIONS
2.1. Unless otherwise specified, for the purposes of these Regulations, the terms and expressions identified below, shall have the following meanings:
Beneficiary: the same as Promoter;
Board of Directors: means the Board of Directors of Daskapital;
Client: means the universe of Promoters and Investors as defined in this document;
General Terms and Conditions: means the General Terms and Conditions of the Daskapital Platform, acceptance of which is required in order to use it;
Account: means a Customer's account created on Daskapital for the purposes of crowdfunding;
Agreements: means the loan agreements, service agreements, credit assignment agreements, general agreements, special conditions and other legal agreements entered into within the scope of Daskapital's operations and which govern the agreements between Beneficiaries and Investors and between the latter and Daskapital;
Daskapital: Das Kapital, Lda. company with the fiscal number 516 460 730, with share capital of 50.000.00 (fifty thousand euros) and with registered offices at Rua do Pereiro 291, Ul, 3720-593 Oliveira de Azeméis, Portugal, owner of Daskapital websites/platforms, or other entities with which Daskapital Lda. is in a control or group relationship, such as Daskapital - Crowdfunding S.A. and Daskapital España S.L.; in certain contexts, the same as Daskapital Platform;
Daskapital - Crowdfunding S.A.: company with the fiscal number 518 046 478, with share capital of €50,000 (fifty thousand euros) and headquartered at Rua do Pereiro 291, Ul, 3720-593 Oliveira de Azeméis, Portugal, responsible for managing and operating the Daskapital Platform in the provision of crowdfunding services under Regulation (EU) 2020/1503 of the European Parliament and of the Council, of 7 October 2020, under the authorisation, regulation and supervision of the Portuguese Securities Market Commission (CMVM), and that holds a licence issued under the aforementioned Regulation that allows it to operate in all European Union Member States;
Daskapital España S.L.: company with the fiscal number B70627534, with registered office at C/. Pintor Sert núm. 1 08760-Martorell (Barcelona) Spain, responsible for managing and operating the Daskapital Platform in terms of providing alternative financing services through the assignment of credits (crowdfactoring or invoice trading);
Payment institution: a payment institution legally authorized to provide payment services for crowdfunding activities;
Investor(s): entity(ies) (individuals or natural persons, SMEs, Companies, Sole Proprietorships, Associations, Public or Private Institutions, other Organizations or Legal Persons) who intend to make investments and who have created an account on the Daskapital Platform, having accepted its General Terms and Conditions and Privacy Policy;
Law: means the laws and regulations in force applicable to European providers of crowdfunding services to entities;
Platform: means the information system based on the Internet and accessible to the public through the address www.daskapital.eu, to be operated or managed by Daskapital which, operating in accordance with EU regulations and other applicable legislation, allows Promoters to present Collaborative Financing Projects and credit assignment proposals to obtain liquidity and funding from Investors;
Project: means the business activity or activities for which a Project Promoter seeks funding through a collaborative financing offer;
Promoter(s): entity(ies) (SMEs, Companies, Sole Proprietorships, Associations, Public or Private Institutions, other Organizations or Legal Persons, and, in some cases, individuals or natural persons) seeking funding or liquidity from Investors and who have created an account on the Daskapital Platform, having accepted its General Terms and Conditions and Privacy Policy;
Regulation 2020/1503: means Regulation (EU) 2020/1503 of the European Parliament and of the Council of October 7, 2020 on European providers of crowdfunding services to entities, and amending Regulation (EU) 2017/1129 and Directive (EU) 2019/1937;
User(s)/Client(s): the universe of Promoters and Investors as defined above, as well as any person who visits Daskapital's websites/Platforms and interacts with Daskapital through them in the context of its activity;
Mangopay: Mangopay, S.A., a company registered under number B173459 in the Luxembourg Trade Register and authorized and supervised by the Luxembourg Financial Sector Supervisory Commission (CSSF), with registered office at 110 route d'Arlon L-1150 Luxembourg and whose website is: www.cssf.lu, for the receipt, transfer and collection of funds from Users in electronic money;
2.2. Other definitions used in this document shall be understood in accordance with the Laws of the Portuguese Republic.
3. POWERS OF THE BOARD OF DIRECTORS
3.1. The Board of Directors is responsible for:
Ensure that Daskapital's organizational structure allows, at all times, for the proper implementation of the policies, procedures and controls that are appropriate for risk management;
Promote a culture of AMLTF prevention that encompasses all Daskapital employees whose duties are relevant to the prevention of AMLTF, based on high standards of ethics and integrity and, where necessary, the definition and approval of appropriate codes of conduct;
Appointing the Compliance Officer, ensuring his/her independence and the strict verification of the legal conditions;
4. COMPLIANCE OFFICER
4.1. The Compliance Officer is entrusted with the duties arising from Article 16 of Law 83/2017, of which the following stand out:
Define and issue opinions on policies, procedures and controls aimed at preventing money laundering and terrorist financing;
Continuously monitoring the suitability, sufficiency and up-to-dateness of policies, procedures and controls on the prevention of money laundering and terrorist financing, proposing the necessary updates;
Participate in defining, monitoring and evaluating the internal training policy;
Playing the role of interlocutor with the judicial, police and supervisory and inspection authorities, namely by complying with the duty of communication provided for in article 43 of Law 83/2017 and ensuring the exercise of other communication and collaboration obligations.
4.2. Daskapital ensures that, with regard to the Compliance Officer, all the elements of article 16 of Law 83/2017 have been and are being observed and complied with.
5. COMPLIANCE WITH OBLIGATIONS AS A CROWDFUNDING PLATFORM
5.1. In accordance with the provisions of Article 144 of Law 83/2017, Daskapital ensures that the following information is recorded for each project:
Full identification of the project's investors and promoters:
Ensured through the process of registering Investors and Promoters of the project and especially the process of creating digital wallets (wallets to be held by Mangopay, the payment service provider).
The digital wallet required to use the features of the Daskapital platform will only be activated once the respective KYC (Know Your Customer) procedure has been completed, which fulfills the identification duties. In this sense, Mangopay will comply with the KYC standard imposed by European legislation, namely Directive (EU) 2015/849 of the European Parliament and of the Council of May 20, 2015 on the prevention of the use of the financial system for the purpose of money laundering or terrorist financing.
Amounts invested, individualized by Investor and by operation:
The Platform will record the amounts invested by each Investor in each operation.
Dates of realization of investments, including dates of total or partial amortization:
In addition to the amounts invested by each Investor in each operation, the platform will record the date of the investments made.
Complete identification of the persons who will repay all or part of the amounts invested, whenever this operation is not carried out by the project beneficiary. Reimbursement will always be made by transfer from the project holder's digital wallet held on Mangopay, or by transfer from a bank account held by the Project Promoter and associated with their account on the platform, so in any case it must always be made by the Project Holder/Promoter. Mangopay will not accept payments being made by third parties on behalf of the Promoters.
Amount of remuneration earned individually by Investor:
Information on the remuneration earned, specifically interest, by each investor and in each project will be recorded and kept on the platform.
5.2. Daskapital ensures that the record of the information referred to in the previous point is kept for a minimum period of 7 (seven) years.
6. SERVICES PROVIDED BY MANGOPAY
6.1. Daskapital will benefit from the services of a payment service provider, namely Mangopay, which will include the creation and management of digital wallets for Daskapital's Clients. Within the scope of the service agreement between Daskapital and Mangopay, Daskapital will not be the entity responsible for fulfilling the identification obligations of Customers in the relationships established between them and Mangopay.
6.2. Although Mangopay carries out the identification procedures of Daskapital's Clients, in compliance with the regulatory obligations inherent to its activity, Daskapital will use the result of these identification procedures for its own purposes. Daskapital will be responsible to the CMVM for the Client identification procedures, as well as for their outcome (in the event of non-compliance with the identification obligations to which it is subject under Portuguese law).
7. DUTY OF IDENTIFICATION AND DUE DILIGENCE
7.1. The procedures for complying with the identification and due diligence obligations will be carried out in coordination between Daskapital and Mangopay as follows:
Daskapital will benefit from the identification and due diligence procedures carried out by Mangopay, which comply with Law 83/2017. The procedure is automated, through integration between Mangopay's systems and the Daskapital Platform. The procedures are conducted in an integrated manner and are transparent;
Daskapital is responsible for collecting all the information required and for keeping all the information and documentation provided by Customers for at least 7 years;
The information will be shared with Mangopay via an API;
Mangopay will carry out the identification and due diligence procedures on an ongoing basis and in accordance with the obligations inherent to its activity, under the standards established by its respective regulatory authority;
Mangopay will share the results of the identification and due diligence procedures with Daskapital;
If a suspicion of money laundering arises, Mangopay will immediately inform Daskapital, so that communications can be made to the competent authorities, under the terms of Law 83/2017;
Daskapital is responsible for confirming, verifying and adjusting the outcome of the identification and due diligence procedures, if necessary, before establishing business relations with the Client, and in this context is responsible to the CMVM, under the terms of Law 83/2027, as the managing entity of a collaborative loan financing platform;
Once informed of the outcome of the identification and due diligence procedures carried out, the Client may decide to continue or cancel their registration on the Daskapital Platform;
Daskapital will continuously monitor the activities conducted by Mangopay (meetings, requests for information, etc.);
Mangopay will inform Daskapital of any irregular situation;
Daskapital may not disclose any Customer data, which must be kept confidential, except in the case of its communication to the competent authorities, in the case of suspicious operations, and to Mangopay, in the context of payment services, with adequate safeguards for the privacy and protection of the data transmitted.
7.2. Information to be collected for the fulfillment of identification and due diligence obligations:
In the case of natural persons: email, full name, date of birth, nationality, address and country of permanent residence, tax identification number (or, if you don't have a tax identification number, the equivalent number issued by a competent foreign authority), profession and employer (if any), and a valid original identification document with a photograph (national identification document or driving license or residence permit for EU residents or passport for EU and non-EU residents).
In the case of legal persons: name, object, legal person identification number, full address of registered office and country of incorporation, identity of legal representatives (as per the previous paragraph), criminal record document, identity of holders of shares in the capital and voting rights equal to or greater than 25%, and the identity of the members of the management body (or equivalent body), as well as other relevant senior staff with management powers, and the articles of association or memorandum of association of the entity, the commercial register and the beneficial ownership declaration document are requested.
7.3. Taking into account the activity carried out by Daskapital, the identification and due diligence procedures assume that the contracting with all Clients is carried out remotely.
8. ASSESSMENT AND ADAPTATION TO THE DEGREE OF RISK
8.1. The procedures adopted to combat money laundering and terrorist financing, including the procedures for complying with the duties of identification and diligence set out in this document, may be adapted, both in their nature and in their extent, depending on the risk associated with the type of client, the business relationship, the transaction and the origin or destination of the funds.
8.2. To this end, information on Clients and the operations to be carried out are subjected to a risk assessment process, including criteria relating to country or geographical risk, sector of activity, risk associated with the Client, risk associated with the transaction, especially its value, risk associated with the operation, among other criteria, resulting in a risk profile.
8.3. The risk assessment influences the nature and extent of the duties of identification and diligence, and Daskapital must act with enhanced or simplified diligence depending on the degree of risk involved.
8.4. When signs of money laundering or terrorist financing are identified and there are suspicions of these practices, the reporting procedure set out in Article 144(4) of Law 83/2017 must be triggered.
8.5. In the risk assessment, the involvement of:
8.5.1. Countries at risk
The residence or origin of the funds is or comes from a country identified as a high-risk country with strategic deficiencies in terms of combating TFIC, countries with drug-producing centers, countries considered tax havens or with weak prevention, or countries in a situation of war or internal conflict of a revolutionary nature, among other factors related to the country of residence or origin of the funds used for the investment that must be observed in accordance with good practices and that may be relevant in this matter.
As part of Daskapital's objective of guaranteeing the integrity and legality of transactions carried out using its services, Daskapital applies a set of restrictions and prohibitions specific to the country of origin of counterparties or funds, and does not accept counterparties and funds originating from the countries listed, at any given time, in Annex I to Delegated Regulation (EU) 2016/167.
8.5.2. Risky activities
Activities that are carried out by or on behalf of entities or individuals included on international sanctions lists. These lists can consist of general embargoes on countries, flows, types of transactions and parties, but also lists of individuals, entities or countries involved or potentially involved in acts of terrorism or their financing;
Activities that are illegal in the jurisdictions where Daskapital operates or may plan to operate, including activities that may appear legitimate but are established to circumvent legal or regulatory prohibitions or restrictions;
Activities consisting of the establishment of a "cross-border arrangement" as defined under Council Directive (EU) 2018/822, as well as any other activities established with the aim of committing or facilitating tax evasion, tax fraud or tax avoidance;
Activities that require Daskapital to provide services to individuals or entities based outside the EEA or outside countries or jurisdictions where Daskapital is legally authorized to conduct business, unless this is done on an ancillary or reverse solicitation basis.
Any other activities that are carried out with the aim of or in conjunction with money laundering or terrorist financing, including its facilitation. Import/export companies, asset management companies, non-financial wealth managers, remittance companies, wealth companies and other activities which, according to good practice and in the light of the specific case, should be observed.
As part of Daskapital's objective of guaranteeing the integrity and legality of the transactions carried out using its services, and in accordance with the relevant regulations, Daskapital applies a set of restrictions and prohibitions specific to the sector of activity of the advisory counterparties at https://mangopay.com/prohibited-businesses.
9. POLITICALLY EXPOSED PERSONS (PEP)
9.1. A PEP is a natural person who holds or has held, in the last 12 (twelve) months, high political or public office or who is a close family member or who is known to have close corporate or commercial relations with that person (under the terms of Law no. 83/2017 of August 18).
9.2. Where appropriate, steps should be taken to assess or detect the qualities of "politically exposed person", "close family member" and "person recognized as closely associated" prior to the establishment of the business relationship, when carrying out occasional transactions or during the course of the business relationship.
9.3. In the event that counterparties are identified as PEPs prior to the establishment of the business relationship, when carrying out occasional transactions or who have acquired PEP status after the establishment of the business relationship, the establishment of the business relationship, the carrying out of the occasional transaction or the continuation of the business relationship is analyzed and approved by the Compliance Officer.
9.4. When establishing business relationships or carrying out occasional transactions with PEPs, information is requested on the origin of the assets and funds involved in the operation.
10. OTHER DUE DILIGENCE DUTIES
10.1. Daskapital's employees or the Compliance Officer must, if necessary, depending on the degree of risk associated with each Client:
Take appropriate measures to understand the ownership and control structure of the Client, when it is a legal person or a center of collective interests without legal personality;
Obtain information on the purpose and intended nature of the business relationship;
Obtain information, when justified by the Client's risk profile or the characteristics of the transaction, on the origin and destination of the funds handled within the scope of a business relationship or when carrying out an occasional transaction;
10.2. The above information and elements must be collected by the employees or the Compliance Officer through specific requests for documentation.
11. DUTY OF REFUSAL
11.1. Daskapital refuses to carry out any operation, enter into a business relationship or carry out any occasional transaction, whenever:
The Customer or its representatives do not provide the information requested for identification or compliance with due diligence duties;
Know or suspect that the operations are related to the commission of the crimes of money laundering or terrorist financing.
12. DUTY OF RETENTION
12.1. General rules
Copies of, or references to, the documents proving compliance with the duty of identification and diligence must be kept for a period of 7 (seven) years after the identification has taken place or, in the case of business relationships, after they have ended.
The originals, copies, references or any other durable medium with the same probative force of the supporting documents and records of transactions must always be kept in such a way as to enable the transaction to be reconstructed, for a period of 10 (ten) years from its execution, even if, in the case of a business relationship, the latter has already ended. This file must be managed by the Compliance Officer.
13. DUTY TO REPORT SUSPICIOUS TRANSACTIONS AND INTERNAL CONTROL MECHANISMS
13.1. Within the organizational structure, the Compliance Officer is responsible for coordinating internal control procedures in the area of money laundering, namely for centralizing information on facts considered suspicious, as well as for the respective communication to the Central Department of Investigation and Criminal Action of the Attorney General's Office and the Financial Intelligence Unit, in cases where this should take place, through the communication channels defined by the latter.
13.2. All employees are informed and made aware of the legislation on the laundering of ill-gotten gains and the financing of terrorism set out in Law 83/2017 and other regulations.
13.3. Suspicious information or operations must be reported immediately and must relate to current events so that they can be effectively investigated.
13.4. Communications to the competent authorities must follow the models and instructions required by the competent authority.
14. DUTY TO ABSTAIN
14.1. Employees must refrain from carrying out any operation whenever they know or suspect that it is related to the commission of AMLTF crimes.
14.2. The Compliance Officer must immediately inform the Central Department of Investigation and Criminal Action of the Attorney General's Office and the Financial Intelligence Unit that he has refrained from carrying out the operation.
15. DUTY TO COOPERATE
15.1. Daskapital employees must promptly provide the cooperation required by the Central Department of Investigation and Criminal Action of the Attorney General's Office, by the Financial Intelligence Unit for the performance of their duties, by the judicial authority responsible for directing the investigation or by the authorities competent to supervise or monitor compliance with the duties laid down in accordance with their respective legal powers.
15.2. To this end, Daskapital is responsible for:
Respond fully, within the time limit set and through a secure channel that guarantees the full confidentiality of the information provided, to requests for information aimed at determining whether they maintain or have maintained, in the last 10 (ten) years, business relations with a given natural or legal person or collective interest center without legal personality, and what the nature of those relations is;
Make available, in full and within the prescribed timeframe, all information, clarifications, documents and elements requested of them;
Grant remote access to said information, documents and elements, whenever requested and within the time limit set for that purpose;
Comply, under the terms and within the deadlines set, with any periodic reporting obligations established in sector regulations;
To send, in full and within the deadlines set, any other information requested periodically or systematically, regardless of the existence of a duty to communicate;
To cooperate fully and promptly with the setorial authorities in the exercise of its inspection activity, namely:
Refraining from any illegitimate refusal or obstructive conduct;
Providing inspection of any premises used, even by third parties, for the exercise of their activity and related services;
Ensuring direct access and providing on-site examination of information, regardless of its medium;
Providing copies, extracts or transfers of all the documentation required;
Ensuring the attendance and full cooperation of any representative or employee who needs to be heard by the inspection authority, regardless of the nature of their relationship;
Comply punctually and within the time limit set, with the determinations, orders or instructions addressed to them;
To report on the state of implementation of the recommendations addressed to them.
16. DUTY OF NON-DISCLOSURE
16.1. None of Daskapital's employees or service providers may disclose to the Customer or third parties that they have transmitted legally required communications or that a criminal investigation is underway.
16.2. The disclosure of information that is legally due to the supervisory or inspection authorities of the duties set out in this law, including the professional regulatory bodies of the activities or professions subject to this law, does not constitute a breach of the duty set out in the previous paragraph.
16.3. The provisions of the first paragraph also do not prevent the disclosure of information, for the purposes of preventing AMLTF, in compliance with the duties of communication and cooperation, under the terms and for the purposes of article 56 of Law 83/2017.
17. DUTY OF CONTROL
17.1. Daskapital's AMLTF policies will be reviewed on an annual basis, by March 31st of each year, by the Compliance Officer, who must submit proposals for changes to the Board of Directors within this period, insofar as they are appropriate for the fulfillment of the respective purposes.
18. DUTY OF TRAINING
18.1. Measures taken by Daskapital:
Daskapital takes all the necessary measures to ensure that its management and employees, whose duties are relevant to the prevention of MLTF, have adequate knowledge of the obligations imposed by the legislation and regulations in force in this area. In this regard, the hiring of employees directly responsible for carrying out duties related to the prevention of money laundering and terrorist financing operations will be preceded by an assessment of their suitability, knowledge and technical capacity to carry out these duties.
The measures provided for in the previous paragraph include specific and regular internal training programs, given either by the Compliance Officer or by third parties qualified for this purpose, appropriate to each sector of activity, which enable their recipients to recognize operations that may be related to the commission of those crimes and to act in accordance with the provisions of this Law and its regulations.
19. PROCEDURE FOR UPDATING IDENTIFICATION INFORMATION
19.1. In accordance with the General Terms and Conditions of Use, Users are responsible for all information and documents entered into the platform. This duty includes responsibility for the correctness, veracity and completeness of all the information provided and requested, in particular the information required to identify Clients, their representatives and beneficial owners.
19.2. In this context, Customers are also responsible for updating all data, information or documents relating to their profile and contained on the Platform whenever there is a change or the data and documents expire.
19.3. Daskapital, through its own means and, in specific situations, through Mangopay, systematically checks the validity periods of the identification documents of Clients, and in the particular case of legal persons, of their representatives and beneficial owners.
19.4. Daskapital uses mechanisms to monitor the age of data entered on the platform in order to identify information that requires verification or updating.
19.5. In situations where the validity of the data and/or documents presented expires or their age recommends it, Daskapital will request that the identification documents be updated immediately, failing which the accounts of the Clients concerned will be suspended and it will not be possible to make investments, request financing, transact funds to and from their accounts, and access to the account on the Platform may even be prohibited.
19.6. In addition, Daskapital sends a communication to its customers every 24 months or so, alerting them to the importance and need to update their data and identification documents.
20. INFORMATION PROTECTION
20.1. Information provided in good faith by Daskapital, in compliance with the duties of communication, abstention and collaboration, does not constitute a breach of any duty of secrecy imposed by law, regulation or contract, nor does it imply liability of any kind for the provider.
Last updated: October 7, 2024