Money laundering involves the illegal conversion of illicit funds, such as those obtained through terrorism or corruption, into legitimate assets to conceal their origins. This occurs as illegal funds are integrated into the financial system through various means.
Governments worldwide combat money laundering and terrorist financing to safeguard their economies. Financial institutions are particularly susceptible to exploitation by criminal organizations, especially in the realm of digital currencies. Our company, Sithakol, is committed to actively combating these illicit activities on a global scale.
1. Conducting thorough client identity verification and transaction monitoring.
2. Tracking suspicious user activity and transactions conducted under irregular circumstances.
3. Exercising the right to request additional verification or halt transactions suspected of illegal activity or money laundering.
4. Adhering to international AML (Anti-Money Laundering) standards as set forth by the FATF (Financial Action Task Force).
To combat suspicious activities and ensure client verification, our team regularly updates our electronic systems in compliance with evolving regulations. Additionally, we conduct ongoing staff training to enhance our anti-money laundering capabilities.
Our platform strictly prohibits the use of multiple accounts.
Upon detection of multiple accounts linked to a single user, all accounts will be temporarily disabled. The user will be required to designate one active account, while the remaining accounts will be permanently blocked.
If we identify multiple accounts created to circumvent our payment method limitations, we reserve the right to request additional verification from the user. Failure to provide the requested information may result in a refund of the payment to the original sender, with applicable transaction fees retained.
The following documents may be required for verification on our platform:
Please ensure all required documents are provided in high quality, with legible text and no alterations. Any modified or unclear documents may be rejected, requiring submission of new, unaltered copies.
For inquiries regarding our Anti-Money Laundering and Know Your Customer Policy, please contact us at: info@sithakol.com