As a regulated payment institution, Sogexia is required to adhere to strict standards of transparency and compliance. Declaring your assets is part of these legal requirements. This measure ensures customer protection and compliance with current financial laws.
Compliance with regulations
European and national legislation requires financial institutions, including Sogexia, to have a clear understanding of their clients' asset situation as part of anti-money laundering and counter-terrorism financing (AML/CTF) efforts. This includes collecting information about all financial, real estate, or other assets to verify consistency between declared assets and account activity.
Preventing financial risks
Declaring your assets allows us to ensure your account is used legally and aligns with your financial situation. This helps minimise the risks of fraud, money laundering, or other illicit activities. By understanding your asset structure, we can more effectively detect any irregularities in your account usage.
Protecting your interests
Asset declaration also protects you by ensuring all transactions carried out on your account align with your financial profile. If the information provided doesn’t match actual usage, it may trigger alerts or account restrictions until inconsistencies are resolved. Providing accurate information helps avoid misunderstandings and service interruptions.
No discrimination
We want to reassure you that collecting this information involves no discrimination or judgement of value when opening an account. The data you provide is treated with strict confidentiality and used solely to fulfil our legal obligations. We prioritise safeguarding your privacy while adhering to regulatory requirements.
How to declare your assets
When opening your account, you will be asked to provide detailed information about your financial assets, real estate holdings, and any other types of property. If you have questions or require assistance completing this declaration, our customer service team is available to help.
When updating these details, a field will be presented during your login process to enter your asset information. Should you need assistance completing this declaration, our customer support remains at your disposal.
Consequences of not declaring your assets
Failure to declare your assets within the specified timeframe may result in restrictions on certain account features to ensure legal compliance. We strongly encourage you to declare your assets promptly to avoid any interruption to your services.