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Anti-Money Laundering (AML) & Know Your Customer (KYC) Policy

Plump

1. Purpose

This document outlines the AML and KYC procedures implemented by Plump ("the Company") to prevent and mitigate possible risks of the Company being involved in any illegal activity, including money laundering, terrorism financing, and other financial crimes.

2. Regulatory Compliance

The Company complies with international AML/CFT standards including those issued by the Financial Action Task Force (FATF). The Company implements a risk-based approach to ensure effective detection and prevention of illicit activity.

3. Customer Identification Program (CIP)

All users must verify their identity prior to engaging in platform activities:

  • Government-issued photo ID
  • Selfie (facial match)
  • Proof of address (utility bill, bank statement not older than 3 months)

4. Enhanced Due Diligence (EDD)

Additional checks are required for:

  • High-risk jurisdictions
  • Politically Exposed Persons (PEPs)
  • Unusual transaction patterns

5. Ongoing Monitoring

Transactions are continuously monitored. Any suspicious activity is flagged, investigated, and reported to the appropriate regulatory authority.

6. Record Keeping

All KYC documentation and transaction logs are securely stored for a minimum of five (5) years in accordance with applicable law.

7. Training

All staff involved in compliance functions receive ongoing AML training.