Compliance with AML/CTF Laws and Regulations

CoinFella complies with all applicable AML/CTF laws, regulations, and guidelines. We continuously monitor and update our policies and procedures to ensure compliance with evolving regulatory requirements.

Customer Due Diligence (CDD)

We conduct thorough customer due diligence on all users engaging in transactions on our platform. This includes verifying the identity of our users, monitoring their transactions, and assessing their risk profiles. We collect the following information during the registration process:

• Full legal name
• Date of birth
• Residential address
• Contact information

Ongoing Monitoring

We employ ongoing monitoring of user activity to identify and report suspicious transactions or patterns that may indicate money laundering or terrorist financing activities. Our monitoring includes:

• Regular transaction monitoring for unusual or suspicious activity
• Tracking and analyzing patterns and trends to detect anomalies
• Monitoring for high-risk jurisdictions or individuals

Enhanced Due Diligence (EDD)

For users engaging in transactions exceeding $1000 per month, we perform enhanced due diligence measures. This includes conducting additional verification steps, collecting additional information, and conducting more comprehensive risk assessments. The EDD process may include:

• Requesting the source of funds and purpose of transactions
• Verifying the business or employment details
• Conducting additional identity verification checks
• Enhanced ongoing monitoring of user activity

Reporting Suspicious Activity

If we detect any suspicious activity or have reasonable grounds to suspect money laundering or terrorist financing, we will promptly report it to the appropriate authorities. We maintain a system to track and record suspicious activities, and our staff is trained to recognize and report such activities.

Staff Training and Awareness

We provide regular training and awareness programs to our employees to ensure they understand the AML/CTF policies, procedures, and their roles in preventing financial crimes. Staff members are trained to identify and report suspicious activities and are aware of their obligations regarding customer due diligence and reporting requirements.

Data Retention

We retain customer information and transaction records in accordance with applicable laws and regulations. All data is stored securely and accessed only by authorized personnel for legitimate purposes.

Cooperation with Authorities

CoinFella will cooperate fully with law enforcement agencies, regulatory bodies, and other competent authorities in any investigation or enforcement action related to money laundering or terrorist financing.

Regular Policy Review

We conduct regular reviews and updates of our AML/CTF policies and procedures to ensure their effectiveness and alignment with regulatory changes.

Communication and Customer Awareness

We communicate our AML/CTF policies and procedures to our users and provide educational materials to promote awareness and understanding of AML/CTF obligations and the importance of reporting suspicious activities.

Non-Tolerance of AML/CTF Violations

CoinFella has a zero-tolerance policy for any user engaging in money laundering, terrorist financing, or other illicit activities. We reserve the right to suspend or terminate user accounts and report any suspicious activities to the relevant authorities.