AML & KYC Policy

Last updated: Jan 2025

1. Introduction

Sociotrade is committed to maintaining the highest standards of anti-money laundering (AML) and Know Your Customer (KYC) compliance. This policy sets forth our procedures and measures to prevent money laundering, terrorist financing, and other illicit activities on our platform.

2. Regulatory Compliance

We adhere to all applicable international and local AML regulations. To comply with these standards, all users are required to complete our KYC verification process before engaging in trading activities on the platform.

3. KYC Procedures

  • Identity Verification: Users must provide valid, government-issued identification along with personal details such as full name, date of birth, and address during registration.
  • Document Verification: Submitted documents will be verified using a combination of automated systems and manual review to ensure authenticity and accuracy.
  • Ongoing Monitoring: To ensure continued compliance, users may be required to update their information or provide additional documentation periodically.

4. AML Measures

  • Transaction Monitoring: All transactions on Sociotrade are subject to continuous monitoring for unusual or suspicious activities. Automated systems are in place to detect patterns that may indicate money laundering or fraudulent activities.
  • Risk Assessment: Regular risk assessments are performed. Accounts that display irregularities or suspicious behaviors may be flagged and subject to further review or suspension.
  • Reporting: Should we detect any suspicious activity, we reserve the right to report such incidents to the appropriate regulatory authorities as required by law.

5. User Responsibilities

  • Providing Accurate Information: Users are required to supply accurate and complete information during the KYC process. Failure to do so may result in the suspension or termination of your account.
  • Cooperation: Users must cooperate fully with any additional verification requests or investigations pertaining to AML/KYC compliance.

6. Data Protection

All information collected for AML and KYC purposes is stored securely in accordance with our Privacy Policy and relevant data protection regulations. We use advanced encryption and secure storage solutions to protect your data.

7. Consequences of Non-Compliance

  • Suspension or termination of your account.
  • Freezing of any associated transactions pending further investigation.
  • Reporting to regulatory authorities as mandated by law.

8. Amendments

We reserve the right to update or modify this AML & KYC Policy at any time. Any changes will be promptly communicated via our platform, and the “Last updated” date will be revised accordingly.

9. Contact Information

For any questions or concerns regarding this policy, please contact us at:

  • Email: This email address is being protected from spambots. You need JavaScript enabled to view it.