AML/KYC Policy

Last Updated: October 4, 2025

1. Introduction

UnifiedRamp is committed to preventing money laundering, terrorist financing, and other financial crimes. This Anti-Money Laundering (AML) and Know Your Customer (KYC) Policy outlines our procedures for verifying customer identities and monitoring transactions in compliance with applicable laws and regulations.

2. Regulatory Compliance

We comply with all applicable AML/KYC regulations, including but not limited to:

  • Bank Secrecy Act (BSA)
  • USA PATRIOT Act
  • Financial Action Task Force (FATF) Recommendations
  • European Union Anti-Money Laundering Directives (AMLD)
  • Local financial regulations in jurisdictions where we operate

3. Know Your Customer (KYC) Requirements

All users must complete our KYC verification process before using our services. The verification process requires different levels of information based on transaction volume and risk assessment.

3.1 Tier 1 Verification (Basic)

Required for transactions up to $1,000 per day:

  • Full legal name
  • Email address and phone number
  • Date of birth
  • Country of residence

3.2 Tier 2 Verification (Enhanced)

Required for transactions up to $10,000 per day:

  • All Tier 1 requirements
  • Government-issued photo ID (passport, driver's license, or national ID card)
  • Selfie verification (liveness check)
  • Residential address with proof of address document (utility bill, bank statement)

3.3 Tier 3 Verification (Full)

Required for unlimited transactions and institutional accounts:

  • All Tier 2 requirements
  • Source of funds documentation
  • Additional identity verification via video call (if required)
  • For business accounts: Company registration documents, beneficial ownership information, business license

4. Identity Verification Process

Our KYC process includes the following steps:

  • Document Upload: Secure upload of required identification documents
  • Automated Verification: AI-powered document authentication and data extraction
  • Biometric Verification: Facial recognition and liveness detection
  • Manual Review: Additional review by our compliance team when necessary
  • Ongoing Monitoring: Continuous screening against sanctions lists and PEP databases

Verification typically takes 5-15 minutes for automated approvals, or up to 24-48 hours for manual reviews.

5. Prohibited Jurisdictions

We do not provide services to individuals or entities located in, or residents of, the following jurisdictions:

  • Countries subject to comprehensive sanctions (e.g., North Korea, Iran, Syria, Cuba)
  • Regions identified as high-risk by FATF
  • Jurisdictions where cryptocurrency services are prohibited by law

This list may be updated from time to time without prior notice.

6. Transaction Monitoring

We employ sophisticated transaction monitoring systems to detect and prevent suspicious activities:

  • Real-time monitoring of all transactions
  • Automated alerts for unusual transaction patterns
  • Screening against sanctioned addresses and entities
  • Blockchain analytics to trace fund origins
  • Velocity checks and daily/monthly transaction limits

7. Suspicious Activity Reporting

We are required to report suspicious activities to relevant authorities. Suspicious activities may include:

  • Transactions with no apparent lawful purpose
  • Unusual transaction patterns or volumes
  • Attempts to avoid reporting or recordkeeping requirements
  • Structuring transactions to avoid thresholds
  • Transactions involving sanctioned individuals or entities
  • Use of multiple accounts to evade detection

We may file Suspicious Activity Reports (SARs) or equivalent reports as required by law. Users will not be notified when such reports are filed.

8. Enhanced Due Diligence (EDD)

We conduct Enhanced Due Diligence for high-risk customers, including:

  • Politically Exposed Persons (PEPs)
  • Customers from high-risk jurisdictions
  • High-value transaction customers
  • Customers with complex ownership structures
  • Customers whose source of funds cannot be readily verified

EDD may include additional documentation requests, source of wealth verification, and more frequent account reviews.

9. Record Keeping

In compliance with regulatory requirements, we maintain records of:

  • Customer identification information and verification documents
  • Transaction records and confirmations
  • Communications with customers
  • Risk assessments and monitoring reports
  • Suspicious activity reports and related documentation

These records are retained for a minimum of 7 years after account closure or the last transaction, whichever is later.

10. Account Restrictions and Closures

We reserve the right to restrict, suspend, or close accounts that:

  • Fail to complete KYC verification within the required timeframe
  • Provide false or misleading information
  • Engage in suspicious or prohibited activities
  • Are linked to sanctioned individuals or entities
  • Violate our Terms of Use or this AML/KYC Policy

In such cases, we may freeze funds pending investigation and cooperate fully with law enforcement authorities.

11. Employee Training

All UnifiedRamp employees undergo regular AML/KYC training to ensure they understand and can effectively implement our policies and procedures. This includes training on:

  • Recognizing red flags and suspicious activities
  • Customer identification and verification procedures
  • Regulatory requirements and reporting obligations
  • Data security and confidentiality

12. Third-Party Service Providers

We work with reputable third-party service providers for identity verification and compliance screening, including:

  • Document verification and authentication services
  • Sanctions and PEP screening databases
  • Blockchain analytics and transaction monitoring platforms
  • Fraud detection and prevention systems

All third-party providers are vetted for security, privacy, and regulatory compliance.

13. Policy Updates

We may update this AML/KYC Policy from time to time to reflect changes in regulatory requirements or our internal procedures. Material changes will be communicated to users via email or platform notifications.

14. Contact Information

If you have questions about our AML/KYC policies or need assistance with verification, please contact:

Compliance Team: compliance@unifiedramp.com
AML Officer: aml@unifiedramp.com
Support: support@unifiedramp.com