Compliance Statement (KYC/AML)

1. Why checks are needed

Georgian banks are required by law to know their customers and to prevent money laundering, terrorist financing and sanctions evasion. Each bank therefore checks an applicant before opening an account.

mono.ge carries out a preliminary check before an application reaches the bank. The bank receives a complete, verified application, and the applicant learns about possible obstacles in advance instead of spending time on an application that is bound to fail.

The mono.ge preliminary check does not replace the bank’s own checks.

2. What we check

Depending on the application, citizenship, place of residence and the bank’s requirements, the check may include:

• authenticity and validity of the identity document;
• that the applicant’s face matches the document photo (only with separate consent — see the Biometric Data Consent);
• sanctions lists;
• politically exposed person (PEP) status;
• fraud and financial crime warning databases;
• publicly available adverse media;
• contact details and address;
• source of funds and expected account activity;
• for companies — owners and ultimate beneficial owners.

See Section 2.1 of the Terms & Conditions for details.

3. Who we do not work with

We do not accept or forward applications to banks if:

• the applicant or related persons are subject to applicable sanctions;
• the applicant acts on behalf of another person without disclosing it;
• the documents are forged, altered or belong to another person;
• the applicant refuses to provide information required for the check;
• there are signs that the account will be used for unlawful purposes.

In addition, banks restrict services to residents of certain countries and jurisdictions, including those on FATF lists and under sanctions regimes. Each bank has its own list, and it changes. If a bank does not serve the applicant’s country, we will say so before the application is submitted.

4. Refusals

4.1. Only the bank decides whether to open an account. Banks generally do not disclose the reasons for refusal, and mono.ge cannot tell the applicant a reason the bank has not disclosed.

4.2. If an application does not pass our preliminary check, we will inform the applicant. Where the law restricts disclosure of details, we report only the fact of the refusal.

4.3. If no account is opened, no administrative assistance fee is charged (see the Refund Policy).

5. Data protection

Information collected for the check is used only to review the application. It is shared only with the banks selected by the applicant and, where required by law, with public authorities of Georgia. It is not shared with commercial third parties and is not used to train AI. See the Privacy Policy for details.

6. Status of mono.ge

mono.ge is not a bank or financial institution, does not accept or hold client funds and does not make decisions on banking products. The platform is operated by IE ioli digital, identification number 305476865, Georgia. Language versions of mono.ge documents are governed by Section 0.3 of the Terms & Conditions.

7. Contact

Email: [email protected] · Telegram: @mono_ge · WhatsApp: +995 599 799 810