Anti-money laundering policy

The following describes the policy of "InvoiceBox" group of companies ("InvoiceBox" OÜ, "InvoiceBox.US" Inc., "USC" LLC, "INVOICEBOX AM" LLC) (hereinafter referred to as the "Company") to combat money laundering and its involvement through the detection and prevention of any activities related to money laundering and terrorist financing in addition to combatting the possibility of individuals or businesses using their products and services for the purpose of money laundering.


Money laundering is a financial transaction whose purpose is to conceal the source of illegally obtained funds (fraud, corruption, organized crime, terrorism, etc.). The main crimes related to money laundering are determined by law. The process of money laundering occurs in three stages.


This is the physical placement of cash in banks and non-bank financial institutions such as currency exchange offices, where cash is often converted from other financial instruments, for example, payment orders or traveler's checks. The cash is then used to pay for expensive goods that can later be sold. For money laundering, criminals, as a rule, choose foreign banks which are poorly regulated or those with insufficient anti-money laundering legislation in place with a view to subsequently transporting those funds into regulated environments under the pretence of "clean money".


Next comes the separation of illegal income from its source by creating layers of financial transactions (numerous transfers of funds between financial institutions, cash loan formalization, using fake invoices, bills, etc.) aimed at concealing the true source of income and disguising the trace of these revenues, all while ensuring anonymity. Criminals transfer funds, changing their form and location along the way. Thus, various financial operations are layered on top of one another and make it difficult for law enforcement agencies to track "dirty" money.


During integration, laundered money is placed back into the economy. Ultimately, it enters the banking system under the guise of honestly earned income.

Anti-money laundering policy involves the following activities:

  • Applying a risk-based approach;
  • Compliance with due diligence and Know Your Customer policies;
  • Monitoring and reporting regarding suspicious transactions/activities;
  • Accounting.

Applying a risk-based approach

Identification of the possible risks related to money laundering during transactions and work with customers allows the Company to take appropriate measures to control and reduce these risks. Traditionally, the following types of risk are observed during a risk assessment:

Country Risk

Country risk, combined with other factors, provides useful information on the potential risk of money laundering and terrorist financing. The main factors that increase the level of a country’s risk are:

  • Countries that have been subjected to sanctions, embargoes or similar measures;
  • Countries included on theFATF’s blacklist for not cooperating in the global anti-money laundering and terrorist financing effort or for having imperfect legislation, which lacks special agencies to combat money laundering;
  • Availability of reliable information that a country finances or supports terrorist activities.

Customer risk

It is impossible to say with certainty which customers are the most at risk. Nevertheless, the following characteristics of customer activity have been identified as representing a potential hazard:

  • Connection with arms production;
  • Dealing in a high proportion of cash;
  • Connection with unregulated charities and other non-profit organizations.

Risks associated with the implementation of a certain type of activity

In a general assessment of the risk of money laundering, certain types of activities of financial organizations providing services to their customers should be taken into account, which are included in lists by regulatory authorities in addition to other reliable sources as having a high risk of money laundering.

Due diligence and Know Your Customer

InvoiceBox group of companies is an online agent for the organization of electronic sales, therefore, any cooperation of the Company with its customers is in absentia. To identify a customer, the Company uses a history of interaction with the customer (transactions, customer support calls), and also carries out other internal checks (for example, through an analysis of suspicious transactions) in order to identify and document the Customer's identity and obtain all necessary information about the Customer, their goals and the nature of the activity he or she is engaging in. The Company will receive and document any additional information about Customers and assess the risk of money laundering using a risk-based approach.

The Company must determine whether the Customer acts on behalf of another natural or legal entity as a representative (for example, as an intermediary or a trustee). In such cases, the prerequisite for cooperation with the Customer is the provision of the necessary documents proving the identity of the intermediary and the person he represents, as well as documents confirming the establishment of a trusting relationship between these persons.

Suspicious transaction/activity monitoring and reporting

In addition to conducting initial due diligence, the Company will monitor customer activity in order to detect any suspicious (or fraudulent) activity. Along with the use of an automated monitoring system, the Company will also need to involve its own employees and outsourcing providers in order to independently conduct additional monitoring of transactions. The Company has implemented an internal suspicious activity alert system and a procedure that will allow all employees of the Company to report to the responsible financial monitoring officer any suspicious activity related to money laundering or terrorist financing. The system includes two stages:

  • All personnel should exercise strict control over any unusual or suspicious transactions/activities;
  • All information on suspicious transactions/activities will be provided monthly to the responsible officer.


All documents received for the purpose of identifying a customer in accordance with the requirements of the Know Your Customer Policy, all transaction data, as well as other information related to money laundering cases, including reports on suspicious activities and documentation regarding the monitoring of accounts, will be stored in the Company's archive, in accordance with the applicable laws/regulations that are in place to combat money laundering, for at least 5 years.
For more information, get in touch with our support team.
InvoiceBox OU accepts transfers as an individual authorized by a supplier. Financial services are provided by partner banks.
Services are provided within the framework of information and technological interaction between settlement parties.
The information on this website is not for public consumption.