AML/KYC Policy
1. Introduction
1.1. The Anti-Money Laundering and Know Your Customer Policy (“AML/KYC Policy”) for SahalWallet.net aims to prevent and mitigate potential risks associated with illegal activities such as money laundering, terrorist financing, fraud, corruption, and other financial crimes.
2. Purpose of Internal Regulation
2.1. SahalWallet.net strictly adheres to international and local regulations to prevent the misuse of its platform for any illegal financial transactions.
2.2. The policy ensures a secure environment for users by complying with global standards in AML and KYC practices.
3. Customer Verification Procedures (KYC)
3.1. SahalWallet.net may request user verification under specific circumstances, such as large transactions, suspicious activities, or as required by local and international regulations. When verification is required, the following documents may be requested:
3.1.1. Valid government-issued identification (National ID, Passport). 3.1.2. Proof of residential address (utility bills, bank statements). 3.1.3. Proof of source of funds (bank statements, employment records, business documents). 3.1.4. Photo identification clearly showing user’s details. 3.1.5. Video verification where necessary, to confirm identity.
3.2. Verification is not mandatory for all users upon registration but may be required as described above.
4. AML Compliance and Transaction Monitoring
4.1. SahalWallet.net continuously monitors user transactions to detect and prevent suspicious activities. Monitoring includes:
4.1.1. Checking users against recognized global sanction and watch lists. 4.1.2. Transaction behavior analysis to detect irregular patterns. 4.1.3. Detailed transaction documentation and record-keeping. 4.1.4. Implementing daily review and risk assessments.
5. Responsibilities of AML Compliance Officer
5.1. An AML Compliance Officer is responsible for ensuring SahalWallet.net’s adherence to AML and KYC requirements by:
5.1.1. Collecting and verifying customer identification information when required. 5.1.2. Regularly updating internal AML/KYC policies and procedures. 5.1.3. Monitoring and analyzing customer transactions and activities. 5.1.4. Coordinating and communicating with relevant law enforcement and regulatory authorities. 5.1.5. Maintaining and regularly updating risk assessments.
6. Risk Assessment
6.1. SahalWallet.net employs comprehensive risk assessment practices to evaluate and mitigate potential risks associated with money laundering and terrorist financing. Regular assessments ensure compliance measures remain effective and appropriate.
7. Action on Suspicious Transactions
7.1. Upon identifying suspicious activities, SahalWallet.net reserves the right to:
7.1.1. Suspend or terminate user transactions or accounts. 7.1.2. Request additional documentation and information from the user. 7.1.3. Report suspicious transactions to appropriate authorities through the AML Compliance Officer. 7.1.4. Conduct thorough internal investigations as necessary.
8. Privacy and Data Protection
8.1. SahalWallet.net safeguards user information collected during KYC and AML processes in strict accordance with its Privacy Policy.
8.2. User confidentiality is maintained unless disclosure is mandated by law.
9. User Responsibilities
9.1. Users of SahalWallet.net must:
9.1.1. Provide accurate and truthful information when verification is requested. 9.1.2. Not use anonymous connections such as proxy servers, VPN, or TOR. 9.1.3. Ensure transactions are conducted only by themselves and not on behalf of third parties.
10. Cautionary Statement
10.1. SahalWallet.net explicitly advises users against utilizing its services for illegal activities including money laundering, terrorism financing, fraud, and purchasing prohibited goods or services.
10.2. SahalWallet.net shall not be held responsible for misuse by third parties or related damages.
11. Policy Updates
11.1. SahalWallet.net reserves the right to regularly updаte this AML/KYC Policy to comply with evolving regulatory requirements and international standards.
11.2. Users will be informed of significant policy changes.
12. Conclusion
12.1. By using the SahalWallet.net platform, users explicitly agree to comply with all elements of this AML/KYC Policy.
12.2. SahalWallet.net will diligently enforce these regulations to provide secure, compliant financial services to all its users.
