MMDSmart Ltd. (“MMDSmart”) provides telecommunication services to customers worldwide and engages other service providers in order to provide its services to customers.
There are certain requirements and regulations stipulated by applicable laws, respective industry authorities, mobile operators, for providing of telecommunication services which service providers should abide while providing their services.
To protect the company and its customers from the issues that may arise due to non-compliance with the established requirements and regulations, MMDSmart has implemented a compliance procedure.
The goal of MMDSmart compliance procedure is to prevent the regulatory and financial risks.
MMDSmart performs reasonable compliance checkup while onboarding new customers.
1. Regulatory risks checkup
- Check that any sanctions are not applicable to the customer.
- Check that the customer’s content does not violate Israeli telecommunication law.
2. Financial risks checkup
- Check that the customer’s company is legally established and there are no prohibitions to work with them according to the Israeli law.
- Check the customer’s financial condition and bank information.
- MMDSmart reserves the right, but is not obliged, to request the customer to provide their financial statements and trade references.
MMDSmart will reject the registration of customer’s account and onboarding if:
- customer is considered risky for any reason;
- customer is under sanctions;
- customer’s content is considered as fraud or directly violates Israeli law.
To ensure providing specified above checkups and ongoing compliance with the required rules, MMDSmart has implemented set of procedures:
- Know Your Customer (KYC) procedure: aimed to identify and verify the customer on the onboarding stage. MMDSmart compliance specialist contacts the customer to collect necessary information, performs the checkup of received information and makes a decision whether the customer is considered a trusted entity.
- Legal framework compliance: MMDSmart acknowledges the customer with service requirements and restrictions that customer shall abide while using services of MMDSmart. These requirements can be found in General Terms and Conditions and policies published on the web site.
- Claims handling procedure: under this procedure MMDSmart processes the claims that may arise due to unsolicited traffic to assist the mobile operators, government authorities or engaged third-party service providers in identifying the source of unsolicited traffic.
- Unsolicited traffic prevention procedure: implemented to identify and prevent the unsolicited traffic from reaching the MMDSmart platform. Responsible specialists of MMDSmart verify traffic content and block the traffic which is considered spam/fraud.
- Compliance review procedure: under this procedure MMDSmart performs regular review of its compliance procedures to identify whether new requirements were introduced by applicable laws, mobile operators, respective industry authorities and implements the changes to its procedures if required.