AML & KYC

Last updated: 4 June 2026

PaySaxas operates a risk-based anti-money-laundering and counter-terrorist-financing (AML/CTF) programme. PaySaxas Oy is supervised in Finland under the Act on Preventing Money Laundering and Terrorist Financing (444/2017) by the FIN-FSA; PaySaxas Financial Solutions Corporation is registered with FINTRAC in Canada under the PCMLTFA. This page summarises our approach — the binding obligations are set out in the client agreements.

Customer due diligence (KYC / KYB)

Before opening an account we verify the identity of the customer, its ultimate beneficial owners and senior management, and the nature and purpose of the business. Verification is performed with a regulated identity-verification provider. We may decline or close accounts where we cannot complete due diligence.

Ongoing monitoring

Activity is monitored on a risk basis for unusual or suspicious behaviour. We run sanctions and politically-exposed-person (PEP) screening at onboarding and on an ongoing basis. Higher-risk relationships are subject to enhanced due diligence.

Reporting & cooperation

We report suspicious activity to the relevant Financial Intelligence Unit (Finland) and to FINTRAC (Canada) as required by law, and cooperate with regulators and law enforcement.

Record-keeping

We retain customer and transaction records for the period required by applicable AML law — at least five (5) years from the closure of the customer relationship.

Governance

The programme is owned by a designated compliance function (MLRO), supported by staff training and periodic independent review.

DRAFT — a plain-language summary for review, not legal advice. The binding AML/KYC terms live in the Finland and Canada client agreements. Have compliance counsel review before publication.