1. Introduction
TychiWallet is committed to preventing money laundering and the financing of terrorism in
compliance with applicable laws and regulations. This Anti-Money Laundering (AML) Policy
outlines our approach to detecting and mitigating risks associated with illicit financial
activities.
2. Regulatory Compliance
TychiWallet adheres to international AML regulations, including but not limited to:
- Financial Action Task Force (FATF) guidelines
- Applicable national AML and counter-terrorism financing laws
- Know Your Customer (KYC) and Customer Due Diligence (CDD) requirements
3. Customer Due Diligence (CDD)
TychiWallet employs a risk-based approach to CDD, which includes:
- Identity VerificationUsers must provide valid government-issued
identification.
- Proof of AddressUsers may be required to submit a utility bill or similar
document.
- Enhanced Due Diligence (EDD): Additional verification for high-risk users
or transactions.
4. Transaction Monitoring
We implement real-time monitoring systems to detect suspicious transactions based on:
- Unusual transaction patterns or volumes.
- Transactions linked to high-risk countries or entities.
- Rapid movement of funds between multiple accounts.
5. Reporting and Record-Keeping
- Suspicious Activity Reporting (SAR):Any suspicious transactions will be
reported to the relevant regulatory authorities.
- Record Retention: We retain transaction and customer data for at least
five years to comply with AML obligations.
6. Risk Assessment and Internal Controls
- Ongoing risk assessments are conducted to identify potential AML threats.
- Internal controls and audits are periodically reviewed to ensure
compliance.
- Staff training is provided to enhance awareness of AML responsibilities.
7. Prohibited Activities
Users are strictly prohibited from engaging in:
- Money laundering or financing of terrorism
- Structuring transactions to evade reporting thresholds
- Use of fraudulent or stolen identities
8. Enforcement and Compliance
TychiWallet reserves the right to:
- Suspend or terminate accounts involved in suspicious activities.
- Report violators to relevant authorities.
- Cooperate with law enforcement in AML investigations.
9. Amendments
TychiWallet may update this AML Policy periodically to reflect regulatory changes. Continued use
of our services constitutes acceptance of the updated policy.
10. Contact Information
If you have any questions or concerns about this Privacy Policy, please contact us.
"This policy is designed to align with global AML standards. For legal compliance, we recommend
consulting a regulatory expert."