Anti-Money Laundering (AML) Policy

  1. Introduction

    This policy of Futcoinspot prohibits and actively pursues the prevention of money laundering and any activity that facilitates money laundering or the financing of terrorist and terrorist activities. Futcoinspot requires its managers, employees, and affiliates to adhere to the policy in preventing the use of the Company Services for money laundering purposes.

  2. Legal Bases

    Futcoinspot operates in jurisdictions with stringent Anti-Money Laundering (AML) regulations. We are committed to working with local financial authorities, and Futcoinspot is committed to complying with international standards and local laws and jurisdictions, strengthening and adapting our internal controls to combat illegal activities.

    • FATF 40 Recommendations
    • The US Bank Secrecy Act (BSA) and the US Anti-Money Laundering, Terrorist Financing and Foreign Sanctions Act (AML Act)
    • UK Money Laundering Regulations (MLR) and Proceeds of Crime Act (PACE)
    • EU Anti-Money Laundering Directive and Regulations
    • CN Anti-Money Laundering and Countering the Financing of Terrorism Law
  3. Transaction Monitoring and Evaluation

    Futcoinspot will implement an effective transaction monitoring mechanism to identify and investigate transactions that may involve money laundering or other irregular activities through systematic and manual reviews.

    • If transactions occur frequently or exceed a reasonable range, they may be marked as suspicious.
    • Restrictive measures may be taken if a transaction is deemed suspicious.
    • Records such as customer identification documents and transaction logs are retained as per regulatory requirements.
    • Suspicious transactions may be reported to law enforcement agencies.
  4. User Suspicious Activity

    We will monitor suspicious activities including:

    • A customer providing false or insufficient information.
    • Requests for cash payments or third-party payments without logical connection.
    • Payments from high-risk countries or overpayments followed by refund requests.
    • Unexpected spikes in a customer’s activities or self-purchases.
    • Registering or using more than one Futcoinspot account.
  5. Futcoinspot Rights and Duties

    Futcoinspot has the following rights and duties:

    • Verify Buyer and payments, and hold them until the order's completion.
    • Protect Sellers from fraudulent payments and make appropriate refunds.
    • Review trading history, communications, and more to resolve disputes.
    • Pursue legal action against fraudulent activities.
  6. Policy Updates and Tips

    Futcoinspot will periodically review and update this policy. Users will be notified of changes.