Anti-Money Laundering (AML) Policy for Dvyne Crypto Ways: Spending Cryptocurrency with Virtual and Physical Cards

Date: 7th January 2024

1. Introduction and Purpose

Dvyne Crypto Ways is committed to maintaining the highest standards of compliance with Anti-Money Laundering (AML) regulations and preventing any illicit activities on our platform. This policy outlines the measures and procedures in place to detect and prevent money laundering and terrorist financing activities associated with spending cryptocurrency through our virtual and physical cards.

2. Customer Identification and Verification

2.1. Know Your Customer (KYC) Process:

• Users must undergo a comprehensive KYC process during the account registration.
• We collect and verify personal information, including name, address, date of birth, and government-issued identification.

2.2. Enhanced Due Diligence (EDD):

• EDD is applied to high-risk transactions or users, requiring additional documentation and scrutiny.

3. Transaction Monitoring

3.1. Automated Monitoring:

• We employ sophisticated algorithms to monitor transactions in real-time, identifying unusual patterns or high-risk activities.

3.2. Threshold Monitoring:

• Transactions exceeding predefined thresholds trigger additional scrutiny and may result in further verification.

4. Reporting and Recordkeeping

4.1. Recordkeeping:

• All customer information and transaction records are securely stored and retained as per regulatory requirements.

5. Customer Communication and Education

• Customers are informed about AML policies during onboarding and through periodic communications.
• Educational materials are provided to raise awareness about the risks associated with money laundering and terrorist financing.

6. Legal Compliance

• Dvyne Crypto Ways ensures strict adherence to local and international AML laws and regulations.

7. Collaboration with Authorities

• We cooperate fully with law enforcement agencies and regulatory bodies, providing assistance in investigations and information sharing.

8. Risk Assessment and Continuous Improvement

• Regular risk assessments are conducted to identify new threats and vulnerabilities.
• The AML policy is subject to periodic review and updates to adapt to evolving regulatory landscapes.

9. Penalties for Non-Compliance

• Non-compliance with AML policies may result in account suspension, termination, and reporting to relevant authorities.

By adhering to this AML policy, Dvyne Crypto Ways aims to contribute to a secure and trustworthy cryptocurrency spending environment while complying with global AML regulations.