This Anti-Money Laundering (AML) Policy outlines GivingHeart’s commitment to preventing the use of its platform for money laundering activities. The purpose of this policy is to ensure that GivingHeart operates in full compliance with applicable laws and regulations regarding money laundering prevention and that it does not facilitate any illegal activity related to money laundering.

1. Policy Overview

GivingHeart is dedicated to maintaining a strong AML program that prevents any attempt to use the platform for money laundering by individuals, entities, or agencies. This program includes measures for detecting, monitoring, and reporting suspicious activities.

2. Scope of the Policy

This policy applies to all GivingHeart employees, partners, and associated organizations. It outlines the procedures to follow to prevent, detect, and report money laundering activities.

3. Customer Due Diligence (CDD)

GivingHeart performs due diligence on all organizations applying to use its platform. This includes verifying the legitimacy of each organization and assessing the risk of potential money laundering activities. Steps include:

• Verification of identity and legitimacy of organizations during onboarding
• Regular updates to maintain accurate and current information on all users
• Enhanced due diligence on high-risk organizations and transactions

 

4. Ongoing Monitoring

GivingHeart continuously monitors transactions on its platform to detect any unusual or suspicious activities. This monitoring includes:

• Transaction pattern analysis to identify irregularities
• Threshold-based alerts for significant payments
• Regular review of high-risk accounts and transactions

 

5. Reporting Suspicious Activities

GivingHeart is committed to reporting any suspicious activities to relevant regulatory authorities, in line with legal requirements. Employees are trained to identify red flags and promptly escalate suspicious activities to the compliance team for investigation.

 

6. Policy Review and Updates

This AML Policy is reviewed and updated annually, or as required by changes in regulations. GivingHeart ensures that all staff and relevant stakeholders are informed of any updates to this policy.