Maestro Global Rules (PDF) - MasterCard

Licensing and Licensed Activities
2.4 MasterCard Anti-Money Laundering Program
2.3.3 Central Acquiring
NOTE
Regional Rules on this topic appears in Chapter 17, “Europe Region,” of this
rulebook.
2.4 MasterCard Anti-Money Laundering Program
A License application must be accompanied by affirmative evidence satisfactory
to the Corporation that the applicant is in compliance with the MasterCard
Anti-Money Laundering Program (the “AML Program”). Each Customer must, at
all times, be in compliance with the AML Program.
The Corporation has exclusive authority to determine at any time whether
an applicant or a Customer is in compliance with the AML Program. Each
applicant to be a Customer and each Customer must cooperate with any effort
by the Corporation to evaluate such applicant’s or Customer’s compliance with
the AML Program. The Corporation may condition initial or continued License
upon compliance with special conditions that the Corporation deems necessary
or appropriate to ensure continued compliance with the AML Program by the
applicant, Customer, and Corporation, as the case may be.
2.5 Obligations of a Sponsor
2.6 Name Change
Compliance Zones
Each Principal must advise the Corporation promptly if an Affiliate ceases to be
Sponsored by the Principal or changes its name or has a transfer of Ownership
or Control.
The Corporation must receive written notice at least sixty (60) calendar days
before the effective date of any proposed Customer name change. A Customer
that proposes to change its name must promptly undertake necessary or
appropriate action to ensure that its License(s) and Activities disclose the true
identity of the Customer.
The following table provides the noncompliance category that the
Corporation has assigned to the Standards described within this chapter.
These noncompliance categories are assigned for the purposes of imposing
assessments when warranted under the compliance framework, as described
in Chapter 3 of this Maestro Global Rules manual.
©1993–2012 MasterCard. Proprietary. All rights reserved.
2-4 9 November 2012 • Maestro Global Rules