Anti-Money Laundering (AML) Policy

Welcome to FidemIt Escrow, a trusted online platform that ensures secure transactions between two or more parties. To keep our platform safe, we've developed an Anti-Money Laundering (AML) policy to help prevent illegal activities, such as money laundering and the financing of terrorism.

We take compliance very seriously, and our AML policy is designed to protect our users, our business, and the wider community. The policy is designed to be easy to follow, and it's important that any one who interacts with our platform, understands and comply with it.

Money laundering is the process of making illegally gained money (dirty money) appear legal (clean money). Criminals use many ways to do this, often by passing money through multiple financial transactions, making it difficult to trace its illegal origin. FidemIt Escrow will not be used for these purposes, and we are committed to ensuring our platform is only used for legitimate business.

This AML policy applies to all users of Fidemit Escrow, whether you are:

• A Vendor: Using our platform to sell goods or services.
• A Buyer: Using Fidemit to pay vendors securely.
• A Service Provider: Offering additional services connected to transactions on Fidemt.

To protect our platform from illegal activities, we require all users to complete the Know Your Customer (KYC) process. This ensures that everyone using Fidemit is verified and that we know who our users are.

What Information Do We Collect?

For Individual Users (Buyers/Vendors):

• Full Name
• Date of Birth
• Residential Address
• Government-Issued ID
• Recent Photograph (Selfie for facial verification)

For Business Users (Registered Vendors):

• Legal Business Name
• Business Registration Number
• Business Address
• Business Type and Industry
• Official Contact Email and Phone Number
• Director's Information and ID

We continuously monitor transactions on our platform to detect and prevent any suspicious activities. If we identify any unusual or potentially illegal activities, we will report them to the relevant authorities.

Our monitoring process includes:

• Regular audits of transactions
• Automated systems to flag suspicious activities
• Manual reviews by our compliance team

As a user of FidemIt Escrow, you have certain responsibilities to ensure compliance with our AML policy:

• Provide accurate and complete information during the KYC process
• Update your information promptly if there are any changes
• Report any suspicious activities or transactions to us immediately

Failure to comply with our AML policy can result in serious consequences, including:

• Account suspension or termination
• Reporting to relevant authorities
• Legal action

We take these measures to protect our platform and our users from illegal activities.

We may update this AML policy from time to time to reflect changes in laws, regulations, or our practices. We will notify our users of any significant changes through our platform or via email.

It is your responsibility to review the policy periodically and stay informed about any updates.