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Anti Money Laundering Policy

Finector IT Infrastructure (individually and collectively, the “Company”), incorporated under the laws of the United Arab Emirates offers services through an internet-enabled peer-to-peer (“P2P”) marketplace for the purchase and sale of digital assets.

The Company is registered as an IT industry with the Department of Economic Development (DED). Finector IT Infrastructure Anti-Money Laundering (“AML”) policies and procedures are designed to deter illicit activities on the platform, protect the users, the business, and the digital currencies and financial services communities from exploitation by criminals. The Company is compliant with the requirements of the FATF (Financial Action Task Force on Money Laundering) and related DED regulations and guidance.

As part of Finector IT Infrastructure Compliance policies, Know Your Customer (“KYC”) policies and procedures for individual and institutional customers have been designed to enable the Company to form a reasonable belief that it knows the true identity of those of its customers for which such review has been performed. The policy applies to all users on the platform and is followed by all of the Company’s employees, consultants, officers, owners and directors.

Using a risk based approach as part of KYC & AML Compliance, Finector IT Infrastructure has taken the following measures:

  • Appointment of a Chief Legal Officer who has the sufficient level of expertise and independence, has responsibility for the oversight of compliance with the relevant legislation, regulations, rules and industry guidance;
  • Establishing and maintaining risk-based KYC, Customer Due Diligence (CDD), and Enhanced Due Diligence (EDD) Policy;
  • Development of various levels of user verification based on risk assessment;
  • Cooperation with law enforcement requests and local regulatory requirements;
  • Filing of Suspicious Activity Reports (“SARs”);
  • Company-wide BSA/AML/OFAC training;
  • Use of various anti-fraud systems;
  • Ongoing rule based transaction monitoring;
  • Investigations using blockchain analytics;

We file SARs if we know, suspect or have reason to suspect suspicious activities have occurred on our platform. A suspicious transaction is often one that is inconsistent with a user’s known and legitimate business, personal activities or personal means. Our Chief Legal Officer reviews and investigates suspicious activity to determine if sufficient information has been collected to justify the filing of a SAR. Our Chief Legal Officer maintains records and supporting documentation of all SARs that have been filed.

The Company has also adopted ongoing OFAC sanctions policies and procedures designed to protect the platform from being used for prohibited transactions, by sanctioned individuals or for the purposes of evading, avoiding or otherwise circumventing U.S. and global sanctions.

Finector IT Infrastructure fully cooperates with all OFAC, Specially Designated Nationals (SDN) and Blocked persons sanctions lists. Please refer to the following link for the Company's list of risk-based banned countries that are prevented from using Finector IT Infrastructure platform.

Where Finector IT Infrastructure has provided you with a translation of the English language version of this policy, then you agree that the translation is provided for your convenience only and that the English language versions of the policy will govern your relationship with Finector IT Infrastructure. If there is any contradiction between what the English language version of the policy says and what a translation says, then the English language version shall control.