Anti-Money Laundering (AML) Policy

Policy Statement

SharingFam firmly prohibits and actively prevents any form of money laundering, as well as activities that may assist in money laundering or fund terrorism and related activities. SharingFam requires its management, employees, and affiliates to strictly adhere to the anti-money laundering policy, ensuring that the company's services are not used for illegal purposes.

Legal Basis

SharingFam operates in areas where there are strict anti-money laundering (AML) regulations. We are committed to cooperating with local financial management departments. SharingFam complies with relevant international standards and local legislation and jurisdiction requirements, strengthens and adjusts our internal monitoring mechanism, and cracks down on relevant illegal activities.

The formulation and implementation of this policy are based on, but not limited to, the following international and regional regulations and guidelines:

The FATF Recommendations on Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT), issued by the Financial Action Task Force (FATF), recognized globally as the international standard for AML/CFT.

The Bank Secrecy Act (BSA) and its supplementary regulations, including Section III of the USA PATRIOT Act, which apply to transactions within the United States and those involving the U.S. financial system.

The European Union’s Sixth Anti-Money Laundering Directive (6AMLD), which establishes a unified definition of money laundering offenses, corporate liability frameworks, and mechanisms for cross-border cooperation.

The Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO) of Hong Kong, a key piece of AML legislation under the regulatory framework of the Hong Kong Special Administrative Region.

The South Korean Act on Reporting and Using Specified Financial Transaction Information, which sets forth specific regulatory requirements for financial transactions, virtual assets, and user identity verification.

SharingFam also continuously monitors the latest regulatory guidelines and announcements issued by financial authorities in various countries to ensure that its compliance measures remain aligned with industry best practices.

Transaction Monitoring and Assessment

We provide regular anti-money laundering (AML) compliance training to all employees involved in handling user funds and data, and have established a dedicated compliance team responsible for reviewing high-risk activities.

We determine each user's risk level based on specialized risk control strategies, which serves as a basis for assessing whether their transactions are abnormal.

We continuously establish and adjust daily transaction and withdrawal limits based on security requirements and actual transaction behavior.

We conduct strict reviews of transactions originating from countries or regions listed as high-risk by the Financial Action Task Force (FATF) and implement corresponding risk control measures to ensure the compliant operation of the platform.

If your account exhibits frequent suspicious activities, we will conduct an evaluation to determine whether the related transactions are suspicious.

If we confirm a transaction as suspicious after evaluation, we may take measures such as suspending or rejecting the transaction. If necessary, we will cancel the transaction and report the suspicious activity to the relevant financial intelligence authorities, and you may not receive a notification.

If we believe that a transaction involves criminal activity or money laundering, we reserve the right to decline the transaction at any stage.

Suspicious User Behavior

When there is suspicion that a customer or third party may be involved in criminal activity, we will assess whether there is a money laundering risk. Below are some examples of suspicious activities that should be reported:

The customer provides incomplete, false, or suspicious information, or refuses to provide complete information.

Frequent small transactions or unusually large transactions.

The transaction payment comes from a country considered to have a high money laundering risk.

Receiving payments from countries unrelated to the transaction or that are illogical.

Requesting a refund after multiple payments, especially when asking for the funds to be transferred to a third party.

Registering or using multiple accounts.

A sudden surge in customer activity.

Using non-traditional payment methods (such as prepaid cards, anonymous payment platforms, etc.).

Frequent refund requests.

SharingFam's Rights

Obtain and Verify Customer Information: SharingFam has the right to request complete and accurate customer information, including identity details, address, and financial proof, as a basis for verifying the customer's identity.

Access Compliance Tools: SharingFam has the right to use compliance monitoring tools, anti-money laundering software, or services to promptly identify and respond to suspicious activities.

Report Suspicious Activities: SharingFam has the right to report suspicious transactions to the relevant regulatory authorities, in compliance with local anti-money laundering laws and regulations.

Implement Risk Management Measures: SharingFam has the right to take appropriate additional measures based on risk assessment results, such as requesting more detailed customer background information or increasing the frequency of transaction monitoring.

SharingFam's Obligations

Continuous Monitoring of Transactions: SharingFam is obligated to monitor customer transaction activities, especially those with high frequency, abnormal amounts, or transactions from high-risk regions, and to retain relevant records.

Data Protection and Confidentiality: SharingFam is obligated to protect the security of customer information and transaction data, and to strictly comply with data protection laws.

Retention of Transaction Records: SharingFam is obligated to retain transaction records for a specified period as required by law, for potential future audits or regulatory inspections.

Cooperation with Regulatory Investigations: SharingFam must cooperate with regulatory authorities' inspections or investigations, including providing required documents, transaction records, and other relevant information.

Policy Update

We will regularly review and update our anti-money laundering policy, with the updated version published on the SharingFam website. In case of significant changes, we will notify users via in-app messages or email.

SharingFam is committed to combating all forms of fraud and money laundering. SharingFam implements strict compliance standards and preventive measures to prevent, investigate, and document activities related to money laundering or fraud.

SharingFam will, to the extent permitted by law, hold accountable those involved in money laundering or fraud on the platform and provide the necessary personal, transaction, and identifiable information to relevant legal authorities to ensure the platform's compliance. We will cooperate with international anti-money laundering organizations (FATF), the Internet Crime Complaint Center (IFCC), regional financial regulatory bodies, and payment service providers, taking necessary actions to protect the platform's rights and security.

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