Anti-Money Laundering (AML) Policy

Introduction

Backrzone is committed to preventing money laundering and terrorist financing in compliance with applicable laws and regulations. This AML Policy establishes our dedication to detecting, preventing, and reporting any activities related to financial crime, ensuring a secure and transparent crowdfunding environment.

Regulatory Compliance

Backrzone adheres to relevant anti-money laundering laws, including but not limited to the USA PATRIOT Act, the Bank Secrecy Act (BSA), and international AML standards set forth by the Financial Action Task Force (FATF). Our compliance framework aligns with global financial security regulations to prevent illicit financial activities.

Customer Due Diligence (CDD)

To mitigate risks associated with financial crimes, Backrzone performs comprehensive due diligence on all users and transactions. This includes verifying user identities, assessing potential risks, and conducting enhanced due diligence (EDD) for high-risk users or transactions that require further scrutiny.

Transaction Monitoring

All transactions conducted on Backrzone are continuously monitored for suspicious activity. Unusual patterns, large transfers, or irregular behaviors will be flagged and reviewed by our compliance team to detect and prevent fraudulent activities.

Reporting Obligations

Backrzone is required to report any suspicious transactions to the relevant financial intelligence authorities. Any detected fraudulent activities, attempts at money laundering, or other financial crimes will be reported in accordance with our legal obligations.

Record Keeping

All transaction records, customer identification data, and due diligence reports are securely stored for a minimum of five (5) years in compliance with AML regulations. This ensures a robust audit trail and supports regulatory investigations if necessary.

Staff Training & Compliance

Backrzone ensures that all employees and relevant personnel undergo regular AML training to remain informed about the latest compliance requirements, risk indicators, and reporting procedures. This continuous education reinforces our commitment to financial security and regulatory compliance.