SWP.GG ANTI-MONEY LAUNDERING (AML) POLICY

THE AML POLICY

An anti-money laundering (AML) policy is a set of procedures, controls, and guidelines that a company (in this case, a crypto exchange) puts in place to prevent, detect, and report money laundering activities.

• Prevention: The first step in an AML policy is to prevent money laundering from occurring in the first place. This can be achieved through a variety of measures, such as establishing customer identification procedures, monitoring transactions for unusual activity, and implementing internal controls to ensure compliance with relevant laws and regulations.
• Detection: If a company suspects that money laundering is taking place, it is important to have procedures in place to detect and investigate the activity. This may involve reviewing transactions for patterns or red flags that indicate money laundering, as well as conducting internal audits to ensure compliance with AML policies. 
• Reporting: If a company discovers evidence of money laundering, it is required to report the activity to the appropriate authorities. This may include filing a suspicious activity report (SAR) with the Financial Crimes Enforcement Network (FinCEN) in the United States or a similar agency in another country. It is important for a company to have a clear process in place for reporting suspected money laundering activity to ensure that it is done in a timely and effective manner.

It is worth noting that AML policies are not just important for preventing financial crime, but also for protecting a company's reputation and maintaining the trust of its customers. Adhering to AML regulations can also help a company avoid potential legal and financial consequences.

SWP.GG AML Compliance Officer

Verified & signed on 20 December 2022