LEGAL & COMPLIANCE

AML Policy

Anti-Money Laundering & Counter-Terrorism Financing Policy

Last updated: April 1, 2025

JOVEpay is committed to the highest standards of anti-money laundering (AML) and counter-terrorism financing (CTF) compliance. We operate in accordance with applicable financial regulations and international standards set by the Financial Action Task Force (FATF).

Our Commitment

JOVEpay maintains a comprehensive AML/CTF compliance program designed to prevent our platform from being used to facilitate money laundering, terrorist financing, or other financial crimes. Our program is risk-based and continuously evolving to address emerging threats and regulatory requirements.

Key AML Measures

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Customer Due Diligence (CDD)

All merchants undergo identity verification before activating their account. We collect and verify government-issued ID, business registration documents, and proof of address.

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Enhanced Due Diligence (EDD)

High-risk merchants, politically exposed persons (PEPs), and accounts with unusual transaction patterns undergo enhanced verification including source of funds documentation.

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Transaction Monitoring

All transactions are monitored in real-time using automated systems. Suspicious patterns including structuring, rapid layering, and transactions involving sanctioned addresses trigger manual review.

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Sanctions Screening

We screen all customers and transactions against OFAC, EU, UN, and other applicable sanctions lists. Transactions involving sanctioned parties are automatically blocked and reported.

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Blockchain Analytics

We use leading blockchain analytics platforms including Chainalysis to trace the origin and history of funds, identify high-risk addresses, and detect links to illicit activity.

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Record Keeping

We maintain comprehensive records of all customer identification documents, transaction records, and AML reports for a minimum of 5 years as required by applicable regulations.

Prohibited Activities

The following activities are strictly prohibited on our platform:

✗Processing payments derived from illegal activities
✗Structuring transactions to avoid reporting thresholds
✗Using our platform to facilitate terrorist financing
✗Transacting with individuals or entities on sanctions lists
✗Providing false information during the KYC process
✗Using our platform to evade tax obligations
✗Processing payments related to human trafficking or exploitation
✗Layering funds through multiple cryptocurrency conversions to obscure origin

Suspicious Activity Reporting

We are obligated to report suspicious activity to relevant financial intelligence units and law enforcement. We will cooperate fully with law enforcement investigations and respond to lawful requests for information. We cannot inform customers when their activity has been reported, as this would constitute "tipping off" - a serious legal offence in most jurisdictions.

Account Restrictions

We reserve the right to restrict, suspend, or terminate accounts that we reasonably suspect are involved in money laundering, fraud, or other illegal activity. In such cases, funds may be frozen pending investigation or as required by law. We will comply with court orders and law enforcement requests to freeze or transfer funds.

Training & Governance

All JOVEpay employees undergo AML/CTF training during onboarding and annually thereafter. We maintain a dedicated Compliance Officer responsible for overseeing our AML program, staying current with regulatory changes, and filing required reports. Our AML program is reviewed and updated at least annually.

AML Compliance Contact

For AML-related inquiries, to report suspicious activity, or for law enforcement requests:

Compliance Email: [email protected]

Law Enforcement: [email protected]