The document states that Checkout Ltd is subject to UK AML and CTF legislation and is obligated to verify customer and beneficial owner identity, maintain full transaction records, monitor for suspicious activity of any size, and report suspicious transactions to the National Crime Agency.
This analysis describes what Checkout.com's agreement states, permits, or reserves. It does not constitute a legal determination about enforceability. Regulatory applicability and practical outcomes may vary by jurisdiction, enforcement context, and individual circumstances. Read our methodology
This provision discloses that Checkout.com's AML compliance obligations include transaction monitoring across all transaction sizes and mandatory reporting to the National Crime Agency, which affects the information merchants must provide and the conditions under which transaction data may be reported to law enforcement.
Under the AML framework described in this document, merchants are subject to identity verification requirements including beneficial owner verification, and transaction data may be reported to the National Crime Agency where suspicious activity is identified. The document states that all transactions are subject to monitoring regardless of size.
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Compare across platforms →"As it is supervised by the FCA, Checkout Ltd is required to meet, among others, the following legal requirements: Understand and interpret the legal and regulatory framework for AML/CTF requirements and systems; Understand standard industry best practice in AML/CTF procedures and proportionate risk-based approach; Design and implement the systems and controls necessary to mitigate the risk of being used in connection with money laundering or financing terrorism. Checkout Ltd's AML legal obligations include among others: Verify customers' (including beneficial owners') identity and address; Keep full records of all transactions together with identification provided; Monitor any unusual or suspicious transactions of any size; Report any suspicious transaction to the National Crime Agency.Excerpt from Checkout.com's Terms
REGULATORY LANDSCAPE: This provision reflects obligations under the Money Laundering Terrorist Financing and Transfer of Funds Regulations 2017, the Terrorism Act 2000, the Proceeds of Crime Act 2002, and the Counter-Terrorism Act 2008.
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This provision discloses that Checkout.com's AML compliance obligations include transaction monitoring across all transaction sizes and mandatory reporting to the National Crime Agency, which affects the information merchants must provide and the conditions under which transaction data may be reported to law enforcement.
Under the AML framework described in this document, merchants are subject to identity verification requirements including beneficial owner verification, and transaction data may be reported to the National Crime Agency where suspicious activity is identified. The document states that all transactions are subject to monitoring regardless of size.
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