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The purpose of the FameSeller Anti-Money Laundering and Know Your Customer Policy (hereafter referred to as the “AML/KYC Policy”) is to foresee and mitigate the risks of FameSeller being involved in any type of illegal activity.
Both international and local regulations require FameSeller to implement compelling internal techniques and components to prevent illegal tax avoidance, psychological oppressor financing, medication and human trafficking, proliferation of weapons of mass obliteration, defilement, and payoff, as well as to take action if any type of suspicious action from its Users occurs.
The following topics are covered by the KYC Policy:
- Procedures for verification
- Officer in Charge of Compliance.
- Transactions are being tracked.
- Assessment of the risk.
Procedures for verification:
Client due diligence is one of the global norms for combating illicit behavior (“CDD”). According to CDD, FameSeller develops its own verification procedures inside the frameworks of anti-tax evasion and “Know Your Customer” structures.
The User must provide FameSeller with credible, independent source reports, information, or data as part of the character confirmation approach (e.g., national ID, global identification, bank proclamation, service bill). For the purposes of the AML/KYC Policy, FameSeller claims complete authority to collect User’s recognizable proof data.
FameSeller will figure out a mechanism to verify the accuracy of the records and data provided by the Users. Every legal method for double-checking recognized proof data will be used, and FameSeller claims the authority to investigate specific Users who have been determined to be hazardous or suspicious.
FameSeller retains the ability to conduct ongoing background checks on Users, particularly when their identifiable evidence data has been altered or their actions appear suspect (bizarre for the specific User). Furthermore, despite the fact that the Users had already passed a character check, FameSeller retains all authority to demand up-to-date records from them.
FameSeller can remove itself from potential legal risk in a situation where its Services are used to drive illegal action once the User’s identity has been validated.
Users who intend to use installment cards to pay for FameSeller’s services must first pass card verification, as detailed on the FameSeller’s website.
Officer in Charge of Compliance.
The Compliance Officer is the person who, after being appropriately approved by FameSeller, is in charge of ensuring the KYC Policy’s successful execution and implementation. The Compliance Officer is responsible for all aspects of FameSeller’s fight against illegal tax avoidance and oppressor funding, including but not limited to:
- a. Gathering Users’ ID data.
- b. Developing and updating internal ways and techniques for finishing, auditing, accommodating, and maintaining all records necessary by applicable laws and guidelines.
- c. Observing trades and looking for any notable deviations from the norm.
- d. Putting in place a records management system that allows for enough capacity and recovery of reports, documents, structures, and logs.
- e. Refreshing the risk assessment on a regular basis.
- f. Providing data for law enforcement as needed by material laws and rules.
The Compliance Officer is qualified to work with law enforcement agencies that are involved in preventing tax evasion, psychological oppressor financing, and other criminal activity.
Transactions are being tracked.
The Users are identified not only by their personality (i.e., who they are), but also, and more importantly, by their value-based examples (what they do). As a result, FameSeller relies on information inquiry as a risk assessment and doubt finding tool. FameSeller performs a variety of consistency-related tasks, including as gathering information, sorting through records, questioning executives, and announcing. The following are features of the framework:
Daily checks of Users against perceived “boycotts” (for example, OFAC), totaling moves by multiple information centers, putting Users on watch and administration refusal records, opening cases for examination where necessary, sending interior interchanges, and rounding out statutory reports as needed;
Take down the names of the executives and keep a record of them.
FameSeller will filter all exchanges in accordance with the AML/KYC Policy, and it claims the ability to:
Ensure that suspicious exchanges are accounted for through the Compliance Officer to the fullest feasible statutory authorization;
compel the User to provide any more data and archives if suspicious exchanges occur; suspend or terminate the User’s Account if FameSeller has reasonable grounds to believe that the User is involved in illegal activity.
The following list is not exhaustive, and the Compliance Officer will screen Users’ transactions on a regular basis to determine if they should be accounted for and treated as suspicious or should be treated as genuine.
Assessment of the risk.
According to global requirements, FameSeller has adopted a risk-based approach to combating unlawful tax avoidance and fear monger financing. FameSeller can ensure that actions to prevent or alleviate tax evasion and psychological oppressor funding are appropriate to the recognized risks by using a hazard-based approach. This will make it possible to allocate assets in the most efficient manner possible.
The rule is that resources should be allocated according to needs, with the most significant threats receiving the greatest attention.