AML Policy

gavel 1. Introduction

ZyvaBit is committed to preventing money laundering and terrorist financing. This Anti-Money Laundering (AML) Policy outlines our approach to detecting, preventing, and reporting suspicious activities.

We comply with all applicable laws and regulations related to AML and Counter-Terrorist Financing (CTF).

verified_user 2. Customer Due Diligence

We implement robust Know Your Customer (KYC) procedures to verify the identity of all users:

• Identity Verification: Government-issued identification documents
• Address Verification: Proof of residential address
• Enhanced Due Diligence: Additional verification for high-risk customers
• Ongoing Monitoring: Continuous review of customer activity

monitoring 3. Transaction Monitoring

We employ sophisticated systems to monitor transactions and detect suspicious activity:

• Automated transaction monitoring for unusual patterns
• Review of large or frequent transactions
• Identification of structured transactions designed to avoid reporting thresholds
• Analysis of transactions involving high-risk jurisdictions

flag 4. Suspicious Activity Reporting

We are committed to reporting suspicious activities to the appropriate authorities:

• Suspicious Activity Reports (SARs) filed with regulatory authorities
• Internal escalation procedures for suspicious transactions
• Cooperation with law enforcement investigations
• Record keeping of all reports and investigations

send 5. Transfer Restrictions and Funding Requirements

To protect our users and comply with Anti-Money Laundering regulations, we have implemented the following transfer restrictions:

• Weekly Funding Threshold: To receive transfers exceeding $5,000.00 USD, recipients must have a minimum of $2,000.00 USD in weekly account funding (deposits made within the past 7 days).
• Fraud Prevention: This requirement helps prevent fraudulent transfers and protects both senders and receivers from unauthorized transactions.
• AML Verification: Users who have completed enhanced AML verification may be exempt from these funding requirements at the discretion of our compliance team.
• Notification System: Both the sender and recipient will be notified via email and in-app notifications when a transfer is pending due to funding requirements.
• Transfer Methods: Transfers using Email ID (EID) and Phone ID (PID) are subject to these restrictions to ensure proper verification of all parties involved.

Rationale: These measures are designed to ensure that high-value transfers are conducted between verified, active account holders, reducing the risk of money laundering, fraud, and other illicit activities.

account_balance 5.5 Loan AML Processing Fee

To comply with Anti-Money Laundering regulations and verify wallet ownership, loan applicants are required to pay an AML processing fee before loan disbursement:

• Fee Calculation: The AML processing fee is calculated as a percentage (typically 10%) of the requested loan amount. For example, a $50,000 loan requires a $5,000 AML fee.
• Wallet Verification: This fee serves to verify that you have control of the wallet address where you wish to receive the loan funds, preventing fraud and unauthorized access.
• Fee Return: The AML fee is NOT a charge — it is returned to you along with your loan amount. If you request a $50,000 loan and pay a $5,000 fee, you will receive $55,000 total.
• Compliance Requirement: This process ensures compliance with international AML standards and protects both parties from fraudulent loan applications.
• KYC Requirement: Users must complete KYC verification before applying for a loan to ensure proper identity verification.

block 6. Prohibited Activities

The following activities are strictly prohibited on our platform:

• Money laundering or attempts to launder proceeds of crime
• Terrorist financing or support for terrorist organizations
• Fraud, identity theft, or other financial crimes
• Evasion of sanctions or dealing with sanctioned entities
• Use of the platform for illegal gambling or narcotics trafficking
• Circumventing transfer restrictions or funding requirements
• Creating multiple accounts to avoid transaction limits

school 7. Staff Training

All staff members receive comprehensive AML training:

• Initial AML awareness training upon hiring
• Regular refresher courses and updates on new regulations
• Specialized training for compliance and risk management staff
• Documentation of all training activities

folder 8. Record Keeping

We maintain comprehensive records as required by law:

• Customer identification documents and verification records
• Transaction records for a minimum of 5 years
• Suspicious activity reports and investigation files
• Training records and policy documentation

contact_mail 9. Contact Us

If you have any questions about our AML policy or wish to report suspicious activity, please contact our compliance team.