AML Policy
Anti-Money Laundering and Counter-Terrorist Financing Policy
1. Introduction
Nova Digital is committed to preventing money laundering and terrorist financing. This policy outlines our procedures and controls designed to detect, prevent, and report suspicious activities in compliance with applicable anti-money laundering laws and regulations.
2. On-Chain Compliance
As a decentralized platform, we leverage on-chain analytics and automated monitoring tools to detect suspicious activity and ensure compliance with applicable regulations. No personal identity verification is required to use the platform.
3. Transaction Monitoring
We employ automated systems and manual review processes to monitor transactions for suspicious activity. This includes monitoring for unusual transaction patterns, large or frequent transactions, and transactions involving high-risk jurisdictions.
4. Suspicious Activity Reporting
When suspicious activity is identified, we file Suspicious Activity Reports (SARs) with the relevant authorities. Our compliance team reviews all flagged transactions and takes appropriate action.
5. Record Keeping
We maintain records of all customer identification documents, transaction records, and compliance reports for a minimum of five years, or longer as required by applicable law.
6. Employee Training
All employees receive regular training on AML/CFT requirements, including how to identify and report suspicious activities. Training is updated to reflect changes in regulations and emerging risks.
7. Sanctions Compliance
Nova Digital screens all customers and transactions against applicable sanctions lists, including those maintained by OFAC, the EU, and the UN. We do not provide services to sanctioned individuals or entities.