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AML Policy

Introduction

At godbex.io, we are committed to ensuring a secure and compliant platform by adhering to stringent Anti-Money Laundering (AML) and Know Your Customer (KYC) standards. This policy reflects our dedication to identifying and mitigating risks associated with illegal activities, including money laundering, terrorism financing, and other financial crimes.

Objective

The purpose of this policy is to outline the measures godbex.io implements to verify users, monitor transactions, and ensure compliance with international regulations and local laws.

1. User Identification and Verification

1.1 Identity Requirements

Users must provide the following information:

  • Full legal name and date of birth.
  • A valid government-issued photo ID (e.g., passport, national ID card).
  • Proof of address, such as a utility bill or bank statement dated within the last three months.

1.2 Verification Process

  • Submitted documents are reviewed for authenticity.
  • User details are checked against global watchlists and sanction databases.
  • Enhanced due diligence is conducted for high-risk users or transactions.

2. Monitoring and Risk Assessment

2.1 Transaction Monitoring

All transactions on the platform are monitored for:

  • Unusual patterns or large amounts.
  • Use of anonymization tools, such as mixers or tumblers.
  • Transfers originating from or directed to high-risk regions.

2.2 Suspicious Activity Reports (SARs)

If a transaction raises concerns, godbex.io may:

  • Temporarily suspend the transaction.
  • Request additional documentation or clarification from the user.
  • Submit a SAR to the relevant authorities, as required by law.

3. Documentation Requirements

Users flagged for additional review must submit:

  • A detailed explanation of the source of funds.
  • Transaction history with supporting evidence (e.g., screenshots, wallet addresses).
  • A selfie with a government-issued ID and a handwritten note with the current date.

Failure to comply with these requirements may result in the suspension or termination of the user’s account.

4. Responsibilities of the Compliance Team

4.1 AML Officer Duties

The designated AML Officer is responsible for:

  • Monitoring and investigating suspicious activities.
  • Ensuring compliance with this policy and applicable regulations.
  • Liaising with regulatory authorities and providing necessary reports.

4.2 Employee Training

All employees undergo regular training to remain informed of evolving AML and KYC requirements and industry best practices.

5. Data Security and Retention

  • Personal and transactional data collected during the KYC process is securely stored and accessed only by authorized personnel.
  • Data retention complies with applicable legal and regulatory requirements.

6. User Communication and Assistance

Users can contact godbex.io support for:

  • Clarification on verification requirements.
  • Assistance with flagged transactions.
  • Information on how to avoid potential delays during transactions.

7. Updates to the Policy

This policy may be updated periodically to reflect changes in regulatory requirements or business operations. Users are encouraged to review it regularly.

Conclusion

By implementing this AML and KYC policy, godbex.io ensures a safe and compliant platform for its users. These measures help foster trust, prevent illicit activities, and maintain the integrity of our services.