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What happens if there’s failure to comply with anti-money laundering laws?

Bondora Group is subject to anti-money laundering laws and related compliance obligations in the jurisdictions in which it operates. Bondora Group has adopted anti-money laundering policies and procedures that are applied in all countries where it does business. However, these policies may not prevent breaches of law.

In most of the countries where it operates, Bondora Group often relies on the anti-money laundering check performed by a customer’s bank before an account is opened for the customer. If Bondora Group or its customers’ banks are not in compliance with relevant anti-money laundering laws, Bondora Group may be subject to criminal and civil penalties and other such measures. 

Any anti-money laundering-related penalties, remedial measures or investigations by the relevant authorities could harm Bondora Group’s reputation and may have a material adverse effect on its business, financial condition, operational results or prospects, or cash flow.

Bondora Group actively monitors legislative and policy developments related to anti-money laundering legislation and KYC (know your customer) requirements.