AML & CFT Policy
Anti-Money Laundering and Counter-Terrorist Financing
Compliance Policy
AML & CFT Policy
Anti-Money Laundering and Counter-Terrorist Financing commitment and procedures
Anti-Money Laundering procedures in place
Counter-Terrorist Financing protocols
Know Your Customer verification required
NYYU is committed to preventing money laundering (AML) and countering the financing of terrorism (CFT) in compliance with applicable laws and regulations. This AML & CFT Policy outlines the measures and procedures we have implemented to ensure the integrity and security of our platform and services.
Purpose
The purpose of this policy is to establish procedures to detect, prevent, and report potential money laundering and terrorist financing activities. Our goal is to comply with relevant regulations and maintain the highest standards of integrity and transparency.
Regulatory Compliance
NYYU complies with all applicable AML and CFT laws and regulations in the jurisdictions where we operate. This includes adhering to the requirements set forth by regulatory authorities and implementing industry best practices.
Know Your Customer (KYC) Policy
Customer Identification
Collecting and verifying personal information such as name, address, date of birth, and government-issued identification
Requiring users to submit valid identification documents, such as passports, driver's licenses, or national ID cards
Continuously monitoring user accounts and transactions for suspicious activities
Additional verification for higher-risk customers and transactions
Enhanced Due Diligence (EDD)
For higher-risk customers, we perform enhanced due diligence, which includes collecting more detailed information about the customer's business and source of funds, as well as implementing more frequent monitoring.
Transaction Monitoring
Setting up automated alerts to flag unusual or suspicious transactions
Conducting manual reviews of flagged transactions to determine if further action is necessary
Reporting suspicious activities to the relevant authorities in accordance with applicable laws
Record Keeping
Training and Awareness
We provide regular training to our employees on AML and CFT policies and procedures, including regulatory requirements, detection and reporting of suspicious activities, and ongoing education about the latest developments in AML and CFT practices.
Cooperation with Authorities
We cooperate fully with law enforcement and regulatory authorities in the investigation of potential money laundering and terrorist financing activities. This includes sharing relevant information with authorities as required by law and ensuring our policies and procedures comply with regulatory requirements.
User Responsibilities
Provide truthful and accurate information during registration
Comply with all applicable AML and CFT laws
Report any suspicious activities immediately
Contact Us
If you have any questions or concerns about this AML & CFT Policy, please contact our compliance team.