Know your customer

Your Loomis Pay payment services are provided by Loomis Digital Solutions AB (hereinafter "Loomis Pay"), a payment institution licensed by the Swedish Financial Supervisory Authority (FI). 

As a payment institution, Loomis Pay needs to comply with legislation against money laundering (AML) and terrorist financing (CTF), among other things. The purpose of the legislation is to prevent Loomis Pay and other companies from being exploited for economic crime. 

According to the legislation, we need to acquire good knowledge about our customers. Therefore, we need to ask questions to those who want to become or are already customers about their business. Our customer knowledge should be kept accurate and up-to-date - this also means that we may ask you to supplement or confirm your information while you have a customer relationship with us, even if nothing has changed. 

If you choose not to answer our customer knowledge questions, there is no possibility to use Loomis Pay's products and services.

What is money laundering and terrorist financing?

Below, we explain some common terms. 

Money laundering

Money laundering means that someone, through various actions or transactions, tries to make money derived from criminal activity become legal, i.e., that the criminal traces are washed away. In addition to collaborations with other actors in the financial market, Loomis Pay, as support in our preventive work, has rules and a money laundering policy that we work from. 

Financing of terrorism

Financing of terrorism means that someone financially supports terrorism, either with legal money or with money derived from criminal activity. Loomis Pay works proactively to prevent the financing of terrorism. To avoid us, as a financial actor, being exploited for the financing of terrorism, for example, we are prohibited from doing business with persons or organizations on the EU sanctions list. 

Politically Exposed Person (PEP)

A person in a politically exposed position (PEP) is a person who has or has had important functions in a state or in an international organization, and also includes family members or known collaborators of such persons. As a financial actor, Loomis Pay must know if any representative in your business is a PEP. 

Need help?

If you are unsure how to answer a specific customer knowledge question, you can contact Loomis Pay for further assistance. You can reach us at lds.risk@loomispay.com

Suspicious activity?

Where do I turn if I have identified suspicious activity (e.g., transaction, behavior, fraud)? lds.risk@loomispay.com

Handling of personal data

The personal data that Loomis Pay processes in connection with the customer knowledge measures we carry out are necessary for us to comply with the legal requirements imposed on us so that we can offer you and your company our products and services. The company is responsible for the processing of personal data, and Loomis Pay has appointed a data protection officer who can answer questions about how your personal data is processed. 

For questions about how we process your personal data, please email csr@loomispay.com and specify "To the Data Protection Officer" in the subject line.