Why does XXImo perform these KYC/KYB checks?

XXImo Financial Services B.V., as a licensed financial institution by the De Nederlansche Bank (DNB) is legally obliged to comply with specific laws. If you wish to use the regulated services of XXImo or its partners/affiliates, then XXImo KYC/KYB team will reach out to you and ask for information about your business. All financial institutions including XXImo FS, must fulfil this legal obligation, but we also do it because we want to support safe financial transactions and integrity in business. This legal responsibility stems from three key laws:

• the Money Laundering and Terrorist Financing Prevention Act (‘Wwft’)
• the Financial Supervision Act (Wft)
• the Sanctions Act 1977

De Nederlandsche Bank and Authority for the Financial Markets (AFM) supervise the financial institutions in the Netherlands to prevent illegal financial activities, such as fraud, money laundering, and the financing of criminals or terrorist organisations.