Anti-Money Laundering (AML) & Countering the Financing of Terrorism (CFT) Policy

Regulatory Compliance

• Adherence to the Financial Action Task Force (FATF) guidelines
• Compliance with relevant national AML/CFT laws
• Requirements from regulatory bodies governing digital assets and financial transactions

Risk-Based Approach

• Identifying and assessing risks associated with customers, transactions, and jurisdictions
• Implementing enhanced due diligence (EDD) for high-risk customers and transactions
• Regular review and update of risk assessments

Customer Due Diligence (CDD) & Know Your Customer (KYC)

• Verification of identity using government-issued IDs and proof of address
• Identification and verification of beneficial owners of legal entities
• Ongoing monitoring of transactions to detect unusual or suspicious activity

Transaction Monitoring and Reporting

• Automated systems to monitor transactions and detect suspicious activities
• Flagging transactions exceeding threshold limits or involving high-risk jurisdictions
• Immediate reporting of suspicious transactions to relevant financial authorities

Sanctions Screening

• Screening against global sanctions lists including UNSC, OFAC, and EU Sanctions List

Record Keeping

Jackocoins securely maintains records of customer information, transaction data, and AML/CFT reports for the legally required period, ensuring compliance and regulatory access.

Employee Training & Awareness

• Regular AML/CFT training for employees
• Recognizing and reporting suspicious transactions
• Staying updated on regulatory changes

Independent Audit & Compliance Review

Jackocoins conducts independent audits and internal reviews to ensure the effectiveness of its AML/CFT measures, promptly addressing any deficiencies found.

Policy Enforcement and Penalties

Non-compliance with this policy may result in disciplinary action, including termination and legal consequences. Jackocoins fully cooperates with regulatory authorities in AML/CFT enforcement.