Anti-Money Laundering (AML) & Counter-Terrorist Financing (CTF) Policy
1. Purpose of the AML Policy
The Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) Policy is established to ensure that Stockity operates within legal and ethical boundaries while adhering to global financial security standards. The purpose of this policy is to prevent criminals from abusing the platform for laundering illicit funds or supporting terrorism. The policy establishes internal controls, monitoring mechanisms, and risk assessment procedures designed to detect abnormal patterns and mitigate financial crime risks. By implementing this policy, Stockity aims to preserve transparency, maintain the integrity of the financial ecosystem, and foster a secure environment for all users. The policy supports the implementation of Know Your Customer (KYC) procedures, enabling Stockity to verify the legitimacy of users and prevent unauthorized or fraudulent account usage. Maintaining strong compliance practices not only protects the platform but also reinforces trust among users, regulators, partners, and financial authorities.
2. Identity Verification and KYC Procedures
Stockity enforces strict KYC procedures in line with regulatory requirements and international guidelines. Users are required to provide accurate identification details before accessing specific features of the platform. Verification may include submitting government-issued identification documents, proof of address, and biometric verification such as selfies or video confirmation. In certain situations, Stockity may request additional documentation to validate the authenticity of the information provided. KYC is an ongoing process, meaning users must maintain updated and accurate information at all times. If inconsistencies or unusual activity is detected, Stockity reserves the right to conduct enhanced verification or temporarily restrict account access. Users are categorized into risk levels based on geographical location, transaction behavior, and financial activity, enabling the platform to apply appropriate transaction limits and security controls. These measures ensure compliance with AML regulations and reduce the risk of illegal activity entering the financial system.
3. Transaction Monitoring and Risk Analysis
All transactions conducted on Stockity are subject to continuous monitoring to detect suspicious activity that may indicate money laundering or terrorist financing. The platform utilizes advanced systems and automated algorithms capable of identifying abnormal patterns such as sudden spikes in transaction volume, multiple small transactions intended to avoid detection, transactions inconsistent with user profiles, or engagement with high-risk jurisdictions. In addition to automated detection methods, the compliance team performs manual reviews on flagged accounts and transactions requiring deeper analysis. If a transaction raises concern, Stockity may delay, block, or request additional information from the user until risk evaluation is completed. Monitoring extends to long-term behavior patterns to identify potential risks that may not be apparent in individual transactions. Users may be asked to provide proof of source of funds, purpose of transactions, or documentation necessary for risk assessment. These processes ensure that the platform remains compliant while minimizing financial crime risks.
4. Reporting Suspicious Activities
Stockity complies with all legal obligations to report suspicious activities or transactions to competent authorities. Reports may include user information, transaction history, and other relevant data required to support further investigation. Users will not be notified when such reports are filed, in accordance with international confidentiality principles. Reportable activities include transactions lacking transparent funding sources, interactions with blacklisted entities, or any behavior inconsistent with the user's financial profile. The platform may suspend or terminate accounts involved in suspected illegal activities. Stockity ensures that all reports are filed timely, accurately, and in accordance with regulatory requirements. The platform also updates its reporting procedures regularly to align with changes in legislation and international standards.
5. Prevention of Platform Abuse
Stockity is committed to preventing its platform from being exploited for criminal activities. The platform enforces protective measures including identity verification, continuous monitoring, activity restrictions for high-risk users, automated alerts, and periodic internal audits. Any attempt to use the platform to conceal illegal funds, engage in fraud, or perform non-transparent financial operations is strictly prohibited. Violations may result in permanent account closure, freezing of funds, and legal actions. To maintain a secure environment, Stockity may apply geo-blocking restrictions, monitor IP addresses, restrict access from suspicious networks, and implement multi-layered authentication systems. These actions ensure that the platform remains secure, transparent, and compliant with AML/CTF regulations.
6. User Education and Policy Updates
Stockity provides users with educational materials aimed at enhancing awareness of financial risks, fraud prevention, and security best practices. Users are encouraged to stay informed about common fraud schemes, identity protection measures, and the importance of completing KYC procedures. The AML/CTF policy may be updated periodically to reflect regulatory changes or improvements in compliance practices. Users are expected to read and understand the latest version of the policy. By maintaining clear communication and education standards, Stockity ensures that users and platform operators remain aligned in preventing financial crimes and ensuring a secure ecosystem.