Our Commitment to AML and KYC Compliance

At The Ikoma, we are fully committed to adhering to global and local regulations on Anti-Money Laundering (AML) and Know Your Customer (KYC) procedures. We recognize the importance of combating financial crimes, and we have implemented robust policies to prevent money laundering, fraud, and any form of illegal financial activity. Our goal is to provide a safe and transparent environment for both vendors and customers.

Why We Have AML and KYC Policies

As a marketplace dealing with a wide variety of vendors and customers, The Ikoma understands the importance of ensuring the legitimacy of all transactions conducted on our platform. Our AML and KYC policies are designed to:

    • Protect the platform and its users from fraudulent activities and financial crimes.
    • Comply with regulatory requirements.
    • Promote trust and security in every transaction.

Key Elements of Our AML and KYC Policies

1. Customer Identification and Verification
All users, including vendors, are required to provide valid identification when registering on The Ikoma platform. This process helps us verify identities and ensure that only legitimate individuals and businesses use our services. Depending on the nature of the transaction, we may require:

      • A government-issued ID (e.g., national ID, passport, or driving license) for individuals.
      • Business registration documents (e.g., company registration certificate, TIN) for businesses.
      • Additional documents for verification in higher-risk transactions.

2. Risk-Based Approach
The Ikoma follows a risk-based approach to AML and KYC compliance. This means that users and transactions are assessed based on their risk level. Users or transactions deemed to be of higher risk may be subject to additional scrutiny, enhanced due diligence (EDD), and monitoring.

3. Transaction Monitoring
Our system continuously monitors all financial transactions on the platform for suspicious activity. If a transaction seems unusual in size, frequency, or origin, it will be flagged for further investigation. The Ikoma reserves the right to pause or block suspicious transactions until they are fully reviewed.

4. Reporting Suspicious Activity
In compliance with AML regulations, The Ikoma is obligated to report any suspicious activity or transactions to the appropriate regulatory authorities. We ensure strict confidentiality and full cooperation with law enforcement and regulatory agencies in cases where illegal activities are suspected.

5. Ongoing Monitoring
The Ikoma employs continuous transaction monitoring and periodic reviews of user accounts to detect potential risks. Our ongoing due diligence process ensures that we can promptly detect changes in user behavior or transaction patterns that may indicate suspicious activity.

6. Sanctions Compliance
The Ikoma adheres to all international sanctions regulations, including those enforced by the United Nations, the European Union, and the United States. We screen our users and transactions against these sanctions lists and ensure that we do not engage in business with any individuals, entities, or countries subject to sanctions. Any transactions involving sanctioned entities will be blocked, and regulatory authorities will be informed.

 

Our Commitment to Your Privacy

While complying with AML and KYC requirements, we understand the importance of safeguarding your personal and business information. All data collected as part of our verification and due diligence processes is securely stored and handled in accordance with our Privacy Policy. We only share this information with regulatory authorities when legally required to do so.

User Responsibilities

By using The Ikoma platform, users agree to:

  • Provide accurate and up-to-date information during registration and throughout their time on the platform.
  • Comply with all applicable AML and KYC regulations.
  • Cooperate with our team if additional information is requested as part of our due diligence procedures.

Failure to comply with these requirements may result in the suspension or termination of your account, and in some cases, reporting to regulatory authorities.

Contact Us

If you have any questions or concerns regarding our AML and KYC compliance, or if you believe you have detected suspicious activity, please contact our Compliance Team at [email protected]. We are here to ensure a safe and secure platform for all our users.