Section 1. Purpose and Incorporation

This Acceptable Use Policy (this “Policy”) is the Supplementary Annex identified as the Acceptable Use Policy in Section 19 of the COMO Platform Agreement (“Platform Agreement”). 

COMO DL S.A. (“CDL S.A.”) provides this Policy to the Client and is responsible for its application, as the payment institution whose regulatory obligations this Policy reflects. COMO Digital Life S.à r.l. (“CDL S.à r.l.”) is also a party to this Policy, for the integrity of the COMO Platform under Section 6.

In this Policy, "COMO entities" means CDL S.A. and CDL S.à r.l., and "COMO entity" means either of them individually. CDL S.A. is a société anonyme, authorized as a payment institution and supervised by the Commission de Surveillance du Secteur Financier under license number Z00000013.

This Policy forms part of the Platform Agreement, applies at all times during its term, and prevails within its subject matter in accordance with Section 2.3 of the Platform Agreement. CDL S.A. may amend this Policy in accordance with Section 15 of the Platform Agreement.

This Policy reflects Applicable Law, the requirements of the CSSF or any other relevant authority, the rules of the payment schemes, correspondent and partner institutions, and other financial partners through which the COMO entities provide the Services, and the internal risk appetite framework of CDL S.A.

That framework includes the Activity and Country Risk Classification that CDL S.A. maintains under its AML/CTF Risk Appetite Policy (the “Risk Classification”), as updated by CDL S.A. from time to time.

The AML/CTF Risk Appetite Policy and the Risk Classification are internal documents of CDL S.A. CDL S.A. does not publish them and does not provide them, in whole or in part, to the Client. The Client is not entitled to receive or review their content. CDL S.A. informs the Client of the outcome of the application of the Risk Classification to the Client's activity in accordance with Section 5 of this Policy, and this information does not disclose the underlying classification or thresholds.

Section 2. General Conduct

The Client uses the Services exclusively for lawful business purposes, in line with the business activity declared at onboarding and recorded in the Onboarding Record. The Client shall not use the Services to hold funds or execute transactions for third parties except where a Service Annex or a written agreement with the relevant COMO entity expressly permits it, and shall not use the Services under a false identity or for purposes materially different from those declared at onboarding. The Client is responsible for the compliance of its Authorized Users with this Policy in accordance with Section 5.3 of the Platform Agreement.

The Client provides CDL S.A., upon request and without undue delay, with the information and documents that CDL S.A. requires for its client due diligence, ongoing monitoring, and other obligations under Applicable Law, including information on the Client's activity, ownership, source of funds, and the background of a transaction. The Client informs CDL S.A. without undue delay of any change in its beneficial ownership, control structure, or declared activity.

Section 3. Prohibited Use

The Client shall not use the Services, and no COMO entity provides the Services, for or in connection with any activity prohibited under the laws of the Grand Duchy of Luxembourg or of the European Union, including but not limited to:

(a) money laundering and terrorist financing within the meaning of the Luxembourg law of 12 November 2004 on the fight against money laundering and terrorist financing, as amended, and of Regulation (EU) 2024/1624, as well as tax evasion, fraud, corruption, and bribery,

(b) any person or jurisdiction subject to Sanctions, including the restrictive measures adopted by the European Union and the United Nations and implemented in Luxembourg under the law of 19 December 2020 on the implementation of restrictive measures, as amended, and any transaction that would expose a COMO entity or its financial partners to Sanctions,

(c) any activity conducted without an authorization, license, or registration that Applicable Law requires for it, including the laws and regulations supervised by the CSSF and any other competent authority,

(d) shell banks, front companies, and structures or arrangements designed to conceal beneficial ownership or the origin of funds, in breach of the standards of the Luxembourg law of 12 November 2004, the applicable CSSF regulations and circulars, and the Financial Action Task Force,

(e) counterfeit goods and any activity infringing intellectual property rights or other rights of third parties, and

(f) any activity involving the exploitation of human beings or of minors, in any form.

Section 4. Sanctioned Persons and Jurisdictions

CDL S.A. performs the onboarding and the compliance checks of the Client upon its entry into the COMO Platform through COMO Pay Framework Contract. CDL S.A. screens clients, beneficial owners, Authorized Users, counterparties, and transactions against the Sanctions lists applicable to it, including the lists of the European Union, the United Nations, the Luxembourg authorities, and any other authority whose measures apply to a Party, and applies the Risk Classification.

The COMO entities do not establish or maintain a relationship with, and do not execute transactions relating to, any person designated on such a list, any person located in a jurisdiction subject to comprehensive Sanctions, or any jurisdiction classified as prohibited under the Risk Classification. CDL S.A. may freeze any funds and decline or block any transaction connected to such a person or jurisdiction, and may return any received funds to the account of origin where Applicable Law permits the return, without prior notice and without liability

CDL S.A. monitors transactions on an ongoing basis in accordance with its obligations under Applicable Law and may request from the Client explanations and supporting documents for any transaction. CDL S.A. complies with its reporting obligations to the competent authorities, and Applicable Law may prohibit CDL S.A. from informing the Client of a report, a blocking, or their reasons.

Section 5. Restricted Activities

CDL S.A. classifies certain lawful business activities as restricted or high risk in accordance with the Risk Classification, due to their regulatory, financial-crime, or reputational risk profile. In such cases the relevant COMO entity provides the Services only with the prior written approval of CDL S.A. following enhanced due diligence. CDL S.A. informs the Client, upon request and during onboarding, whether and on which conditions the Client's activity is supported.

An approval is specific to the Client, to the activity, and to the Services described in it, and CDL S.A. may grant, condition, refuse, or withdraw an approval at its discretion, including where the Client's risk profile, Applicable Law, or the requirements of the financial partners of CDL S.A. change. CDL S.A. is not required to state its reasons, to the extent Applicable Law permits.

The Client shall use the COMO Platform and the Services only for the activity declared at onboarding and recorded in the Onboarding Record, in accordance with the conditions of any approval granted under this Section. Where CDL S.A. informs the Client that an activity is not supported, or is supported only on conditions, the Client shall cease that activity or comply with those conditions within the period stated in the notice.

An activity classified as prohibited under the Risk Classification is never supported, and an activity classified as restricted or high risk is supported only in accordance with this Section. Any use of the COMO Platform in breach of this paragraph constitutes a breach of this Policy, and Section 7 applies.

Section 6. Platform Integrity

The Client shall not interfere with the security or integrity of the COMO Platform, shall not copy, scrape, or harvest data from it by automated means, shall not circumvent any security measure or access control, and shall not access it other than through the interfaces CDL S.à r.l. provides.

The license restrictions in Section 8.2 of the Platform Agreement apply in addition to this Section. This Section is the matter of CDL S.à r.l. as the entity that makes the COMO Platform available to the Client, and CDL S.à r.l. enforces it in accordance with Section 7.

Section 7. Enforcement

A breach of this Policy constitutes a material breach of the Platform Agreement. The relevant COMO entity may decline or block a transaction and may return any received funds to the account of origin, may suspend the affected Service, account, or access in accordance with Section 13.2 of the Platform Agreement, may terminate in accordance with Section 14.3 of the Platform Agreement, and may take the compliance measures described in Section 11.4 of the Platform Agreement. Where feasible and lawful, the relevant COMO entity informs the Client of the measure and its general reason, and no COMO entity is under any obligation to disclose any detail where disclosure is or may be prohibited by Applicable Law.

CDL S.A. enforces this Policy for the matters that reflect its regulatory obligations, and CDL S.à r.l. enforces Section 6. The Client shall notify CDL S.A. in writing and without undue delay upon becoming aware of any use of the Services in breach of this Policy, and shall notify CDL S.à r.l. where the breach concerns the integrity of the COMO Platform.