Anti-Money Laundering (AML) Policy

1. Regulatory Compliance

Algometrix is registered with the Financial Intelligence Unit - India (FIU-IND) and operates in full compliance with:

• Prevention of Money Laundering Act (PMLA), 2002
• PMLA Rules, 2005
• FIU-IND Guidelines and Circulars
• Reserve Bank of India (RBI) Regulations
• Securities and Exchange Board of India (SEBI) Guidelines

2. Know Your Customer (KYC) Requirements

All users must complete comprehensive KYC verification before trading on our platform:

• Identity Verification: Valid government-issued photo ID (Aadhaar, PAN Card, Passport, or Driver's License)
• Address Verification: Recent utility bill, bank statement, or rental agreement
• PAN Card: Mandatory for all Indian residents
• Biometric Verification: Video KYC or DigiLocker integration
• Enhanced Due Diligence: Additional verification for high-risk customers or large transactions

3. Customer Due Diligence (CDD)

We implement a risk-based approach to customer due diligence:

• Standard CDD: Applied to all customers during onboarding
• Enhanced CDD: Applied to Politically Exposed Persons (PEPs), high-net-worth individuals, and customers from high-risk jurisdictions
• Ongoing Monitoring: Continuous monitoring of transactions and customer behavior
• Source of Funds: Verification of the origin of funds for large transactions

4. Transaction Monitoring

We maintain robust transaction monitoring systems to detect suspicious activities:

• Real-time monitoring of all deposits, withdrawals, and trades
• Automated alerts for unusual transaction patterns
• Daily transaction limits and velocity checks
• Monitoring of peer-to-peer transfers
• Cross-referencing against sanctions lists and PEP databases

5. Suspicious Transaction Reporting (STR)

We are obligated to report suspicious transactions to FIU-IND:

• All suspicious transactions are analyzed by our compliance team
• Suspicious Transaction Reports (STRs) are filed with FIU-IND within prescribed timelines
• Cash Transaction Reports (CTRs) are filed for transactions above threshold limits
• Customers are not informed about STR filings to maintain confidentiality

6. Record Keeping

We maintain comprehensive records as required by law:

• All KYC documents are retained for 5 years after account closure
• Transaction records are maintained for 5 years
• Communication records are archived securely
• Records are readily available for regulatory inspection

7. Prohibited Activities

The following activities are strictly prohibited on our platform:

• Money laundering and terrorist financing
• Trading with proceeds of crime
• Operating accounts for sanctioned individuals or entities
• Structuring transactions to avoid reporting requirements
• Using the platform for illegal activities
• Operating accounts on behalf of others without disclosure

8. Employee Training

All Algometrix employees receive regular AML training:

• Comprehensive onboarding training on AML/CTF policies
• Regular refresher courses and updates on regulatory changes
• Specialized training for compliance and customer support teams
• Testing and certification requirements

9. Third-Party Due Diligence

We conduct due diligence on all third-party service providers:

• Banking partners and payment processors
• Liquidity providers and trading partners
• Technology and security vendors
• Ensuring compliance with applicable AML regulations

10. Sanctions Screening

We screen all customers against international sanctions lists:

• United Nations Security Council (UNSC) sanctions
• Office of Foreign Assets Control (OFAC) sanctions
• European Union (EU) sanctions
• Indian government sanctions lists
• Regular updates to screening databases

11. Reporting Suspicious Activity

If you notice any suspicious activity on our platform, please report it immediately:

• Email: compliance@algometrix.in
• All reports are treated confidentially

11. Contact Us

If you have questions about this Privacy Policy or our data practices, contact us:

Algometrix Private Limited
Email: algometrixindia@gmail.com
Address: POLYSHEET CANAL ROAD Damuadhunga Haldwani, Nainital, Uttarakhand, India 263126 India