Introduction Fiatsend ("we," "us," or "our") is committed to providing a secure and compliant platform for fiat and cryptocurrency transactions. This Know Your Customer (KYC) and Anti-Money Laundering (AML) Policy outlines our dedication to adhering to applicable laws and regulations, including those governing financial services in the jurisdictions where we operate. This policy applies to all users of Fiatsend's services, including individuals, businesses, and agents interacting with the Fiatsend Network.

Purpose

The purpose of this policy is to:

• Prevent money laundering, terrorist financing, fraud, and other illicit activities.
• Ensure compliance with international and local regulations, including AML laws and KYC requirements.
• Protect Fiatsend’s users and stakeholders by maintaining a transparent and secure transaction environment.

Scope

This policy applies to:

• All users of Fiatsend's services.
• Transactions involving fiat currencies, stablecoins, and cryptocurrencies.
• Agents and businesses utilizing Fiatsend APIs for fiat-to-crypto integrations.
• Any third-party partners involved in payment processing or related services.

Key Components

1. Customer Identification Program (CIP)

Fiatsend requires all users to verify their identity before accessing its services. The CIP includes:

• Collection of personal information such as name, date of birth, address, and government-issued identification.
• Verification of identity through official documents (e.g., passports, national IDs).
• Enhanced Due Diligence (EDD) for high-risk customers such as politically exposed persons (PEPs).

2. Customer Due Diligence (CDD)

Fiatsend performs CDD to assess the risk profile of each customer. This includes:

• Understanding the purpose of the customer’s relationship with Fiatsend.
• Monitoring accounts for suspicious transactions.
• Identifying beneficial owners for business accounts.

3. Transaction Monitoring

Fiatsend monitors transactions in real-time to detect unusual patterns or activities. Key indicators include:

• Large or frequent transactions without a clear origin.
• Transfers to high-risk jurisdictions.
• Discrepancies in customer information.

4. Suspicious Activity Reporting (SAR)

Fiatsend complies with regulatory requirements to report suspicious activities. SARs will be filed within 30 days of detecting any unusual behavior. Reports are reviewed by compliance officers and submitted to relevant authorities.

5. Record Keeping

Fiatsend retains records of transactions, customer identities, and due diligence documentation for a minimum period of five years. These records ensure transparency and support investigations when necessary.

6. AML Training

Fiatsend ensures its staff are trained regularly on AML regulations and their responsibilities under this policy. Training includes recognizing red flags and understanding reporting procedures.

Compliance Framework

Fiatsend’s compliance framework includes:

• Appointment of an AML Compliance Officer responsible for overseeing adherence to regulations.
• Regular audits to evaluate the effectiveness of KYC/AML controls.
• Implementation of automated systems for identity verification and transaction monitoring.

User Responsibilities

Users are required to:

• Provide accurate information during onboarding.
• Update their details promptly if there are changes.
• Avoid engaging in prohibited activities such as money laundering or fraud.

Prohibited Activities

Fiatsend prohibits the use of its platform for:

• Money laundering or financing terrorism.
• Fraudulent transactions or identity theft.
• Transactions involving sanctioned individuals or entities.

Conclusion

Fiatsend is committed to maintaining the highest standards of compliance with KYC/AML regulations while offering a seamless user experience. By implementing robust policies and procedures, we aim to safeguard our platform against illicit activities while fostering trust among our users and partners.