Compliance

What is Compliance?

Acting in compliance involves knowing the rules issued by regulators and adhering to them. For all Treezor employees to act in compliance, these rules must be clearly expressed, and each individual must be sensitized and trained. The rules aim to ensure transparency in Treezor’s relationship with its clients and partners, as well as its integrity.

Compliance within Treezor

Treezor’s activities are conducted in strict compliance with regulatory obligations regarding payment institutions and electronic money institutions.

In particular, Treezor focuses on:

• Collecting all required information as part of customer knowledge (KYC: Know Your Customer) to meet regulatory requirements while preserving customer satisfaction;
• Working with clients and partners whose practices comply with international standards and rules for combating money laundering and terrorism financing;
• Strictly adhering to international embargo and financial sanction rules;
• Protecting customer interests by offering suitable products and services;
• Respecting the data protection of its customers and employees;
• Conducting necessary checks and declarations;
• Preventing and managing conflicts of interest;
• Combating corruption, fostering a culture of compliance among its employees, and ensuring the exercise of whistleblowing rights;
• Applying all rules to ensure tax transparency;
• Managing risks of serious environmental and human rights violations associated with its activities and ensuring compliance with voluntary commitments in terms of CSR (Corporate Social Responsibility).

Compliance priorities

Compliance ensures:

• Compliance with laws, regulations, and specific ethical principles related to the provision of payment services and electronic money, as well as adherence to good conduct rules and personal ethics of Treezor employees;
•  Awareness-raising and training of all stakeholders on preventing non-compliance and reputation risks.

The action of compliance is at the core of our business and ambitions, relying on the trust of our clients and exemplified by the Code of Conduct of the Société Générale Group.

The main risks related to compliance

1. KYC (Know Your Customer)

KYC encompasses all obligations financial entities have regarding knowing their customers. It involves customer identification, comprehensive understanding of their characteristics (activity, fund origins, etc.), updating this information, and implementing appropriate vigilance.

2. Combating money laundering and terrorism financing

Compliance’s mission is to prevent operational risk related to money laundering and terrorism financing. It coordinates daily efforts against these risks and ensures continuous training for all employees.

3. Embargoes – International sanctions

Respecting sanctions is an increasingly important and complex matter, potentially generating significant operational risks and requiring an international approach. Commercial embargoes and economic sanctions are strictly observed.

4. Customer protection

Treezor pays close attention to this major issue by implementing strong actions in training and raising awareness among its employees, evolving tools, and strengthening internal rules regarding customer complaint handling.

5. Combating corruption

Treezor promotes strict principles outlined in the Société Générale Group’s Code of Conduct and conforms to the strictest regulatory provisions in this regard.

6. Prevention of tax evasion risks

Control measures to ensure compliance with local laws and regulations have been implemented by Treezor. Treezor acts in accordance with tax transparency requirements and applies the Common Reporting Standard (CRS) to its entities. The same applies to the US law FATCA (Foreign Account Tax Compliance Act), aimed at combating tax evasion schemes. 

7. Data protection

Sensitive to the protection of personal data, Treezor regularly strengthens its protection measures and has established a specialized department. Since the entry into force of the European Regulation on the Protection of Personal Data in 2018 (GDPR), Treezor has expanded its measures, applying the requirements of national and European regulations, especially regarding security, personal data usage, and implementation of rights of concerned individuals.

8. Sustainability risks

Treezor ensures that in each of its activities, its employees, as well as its subcontractors or suppliers, act in accordance with Treezor’s obligations and commitments on environmental and social issues to ensure a responsible and sustainable economy.