AML & KYC Policy

Our robust Know Your Customer and Anti-Money Laundering protocols protect our platform and users.

1. Introduction

Stoxtel is committed to the highest standards of Anti-Money Laundering (AML) and Know Your Customer (KYC) compliance. We have implemented a rigorous program utilizing industry-leading partners for on-chain analytics and identity verification to prevent our platform from being used for money laundering, terrorist financing, or other illicit activities.

2. Regulatory Framework

Our AML/KYC program is designed to comply with:

  • Bank Secrecy Act (BSA)
  • FinCEN regulations for Money Services Businesses
  • USA PATRIOT Act requirements
  • OFAC sanctions programs
  • International AML standards and best practices

3. Customer Identification Program (CIP)

3.1 Individual Customers

We collect and verify the following information for individual customers:

  • Full legal name
  • Date of birth
  • Residential address
  • Government-issued identification document
  • Proof of address (utility bill, bank statement)
  • Selfie verification for identity confirmation

3.2 Business Customers

For business accounts, we require:

  • Business registration documents
  • Certificate of incorporation
  • Beneficial ownership information
  • Identification of authorized representatives
  • Business address verification
  • Source of funds documentation

4. Customer Due Diligence (CDD)

Our CDD procedures include:

  • Risk assessment based on customer profile
  • Screening against sanctions lists (OFAC, UN, EU)
  • Politically Exposed Persons (PEP) screening
  • Adverse media screening
  • Ongoing monitoring of customer activity

5. Enhanced Due Diligence (EDD)

Enhanced due diligence is applied for higher-risk customers, including:

  • High-value transactions
  • Customers from high-risk jurisdictions
  • Politically Exposed Persons
  • Complex ownership structures
  • Unusual transaction patterns

6. Transaction Monitoring

We employ sophisticated monitoring systems to detect:

  • Unusual transaction patterns
  • Structuring or smurfing activities
  • Transactions involving high-risk addresses
  • Connections to known illicit activities
  • Suspicious deposit and withdrawal patterns

7. On-Chain Analytics

We utilize industry-leading blockchain analytics tools to:

  • Trace the source and destination of digital assets
  • Identify connections to darknet markets
  • Detect mixer and tumbler usage
  • Screen for ransomware and fraud proceeds
  • Monitor for sanctioned wallet addresses

8. Suspicious Activity Reporting

We are committed to reporting suspicious activities as required by law:

  • Filing Suspicious Activity Reports (SARs) with FinCEN
  • Maintaining detailed records of reported activities
  • Cooperating with law enforcement investigations
  • Protecting the confidentiality of SAR filings

9. Record Keeping

We maintain comprehensive records including:

  • Customer identification documents for at least 5 years
  • Transaction records and correspondence
  • Risk assessments and due diligence documentation
  • SAR filings and supporting materials

10. Employee Training

All employees receive regular training on:

  • AML/KYC policies and procedures
  • Red flags and suspicious activity indicators
  • Reporting obligations and escalation procedures
  • Regulatory updates and industry developments

11. Prohibited Activities

We prohibit the use of our platform for:

  • Money laundering or terrorist financing
  • Transactions involving sanctioned individuals or entities
  • Processing proceeds from illegal activities
  • Tax evasion or fraud
  • Any activity that violates applicable laws