Terms of Service

1. Introduction:

Timon Financials is committed to maintaining the highest standards of integrity and compliance with applicable laws and regulations. This Anti- Money Laundering (AML) and Know Your Customer (KYC) Policy outlines the principles and procedures that Timon Financials follows to prevent money laundering and to ensure the proper identification of customers

In the event of a dispute regarding a charge-back initiated by the customer, you agree to pay a non-refundable fee of $50 to cover the litigation costs before we begin the dispute process.

You agree to indemnify, defend, and hold Timon and its subsidiaries, affiliates, officers, agents, and employees harmless from and against any and all claims, liability, losses, costs, and expenses (including attorneys' fees) incurred by Timon in connection with any use or alleged use or unauthorized use of the account under your password by any person, whether or not authorized by you. This includes any claims arising from charge-back fraud or disputes. Furthermore, all legal fees incurred by Timon in relation to such disputes shall be borne by you.

2. Purpose:

The purpose of this policy is to establish and maintain effective measures for the prevention of money laundering and the identification and verification of customers in accordance with relevant laws and regulations

3. AML/KYC Compliance Officer:

Timon Financials shall appoint a designated AML/KYC Compliance Officer responsible for overseeing and enforcing the AML/KYC policy.

4. Customer Due Diligence (CDD):

4.1. Identification and Verification:

- Timon Financials will obtain sufficient information to identify and verify the identity of each customer before establishing a business relationship.

- Customers are required to provide valid government-issued identification and additional documentation as deemed necessary.

Timon Financials is committed to high standards of anti-money laundering/counter terrorist financing (AML/CTF) and requires all Customers, Clients (Merchants & Partners) on the Timon service, management and employees to adhere to these standards in order to prevent the use of Timon's products and services for money laundering/terrorist financing purposes. Implemented AML/CTF compliance program comprises written policies, procedures, internal controls and systems including but not limited to:

• Information we collect.
• The identification of potential AML/CTF risks relevant to each Timon'sactivities.
• Global and local AML/CTF policies and procedures to ensure compliance with AML laws and regulations.
• Customer identification and verification (including beneficial owners).
• Rules regarding transactions of Politically Exposed Persons (PEPs).
• Enhanced due diligence of increased risk clients.
• Internal procedures for monitoring and reporting suspicious activities of Timon's customers.
• Customer screening against global list of terrorists and specially designated nationalities, relevant financial and other sanctions lists
• Maintenance of relevant records.
• Regular staff training and awareness raising.
• Management of regulatory inquiries and incidents.
• Coordinating day-to-day compliance by responsible compliance staff.

Standards set out in the internal AML/CTF policy are based on applicable legal and regulatory requirements to prevent Timon and its clients from money laundering, terrorist financing or other fraudulent activities.

4.2. Enhanced Due Diligence (EDD):

- Enhanced due diligence will be applied to high-risk customers, transactions, and geographic locations.

- Additional documentation and information may be requested for high-risk customers.

5. Ongoing Monitoring:

Timon Financials will continuously monitor customer transactions and account activity for unusual or suspicious patterns that may indicate potential money laundering.

6. Reporting and Record Keeping:

6.1. Suspicious Activity Reports (SAR):

- Timon Financials will promptly file Suspicious Activity Reports for any transactions or activities that raise suspicion of money laundering or other illegal activities.

6.2. Record Keeping:

- Timon Financials will maintain records of customer identification information and transaction data for a minimum period as required by local regulations.

7. Employee Training:

All employees of Timon Financials involved in customer onboarding, transactions, and monitoring will receive regular training on AML/KYC procedures to ensure compliance.

8. Risk Assessment:

Timon Financials will conduct periodic risk assessments to identify and assess the risk of money laundering and terrorist financing associated with its customers, products, services, and geographic locations.

9. Third-Party Relationships:

When entering into relationships with third parties, Timon Financials will ensure that these entities adhere to AML/KYC standards consistent with Timon Financials' policies.

10. Communication and Awareness:

Timon Financials will communicate its AML/KYC policies and procedures to all relevant stakeholders and foster a culture of awareness and compliance.

11. Amendments to the Policy:

This policy will be reviewed periodically and amended as necessary to ensure continued effectiveness and compliance with regulatory requirements.

This AML/KYC policy is an integral part of Timon Financials' commitment to conducting business with integrity and in compliance with the law. All employees and stakeholders are expected to adhere to these principles and procedures.

If you have any questions or require additional information regarding Timon's Anti- Money Laundering efforts, please contact: compliance@timon.cards