AML Policy

Anti-Money Laundering (AML) Policy

3.1 Purpose and Scope

1. This AML Policy outlines Fairside’s commitment to preventing money laundering and other illicit activities.

3.2 Compliance Standards

1. Fairside complies with global AML regulations, including KYC and suspicious activity reporting requirements.

3.3 Customer Due Diligence (CDD)

1. Identity Verification

   1. Members must provide valid ID and proof of address during registration of claim submission

2. Enhanced Due Diligence (EDD)

   1. High-risk members are subject to enhanced verification, and may be disqualified from claims approval if the members is found to be in any jurisdiction the protocol has deemed restricted,, or in violation of any policies or requirements set forth by Fairside.

3.4 Transaction Monitoring and Reporting

1. Monitoring

   1. Transactions are monitored for patterns indicating illicit activity.

2. Reporting

   1. Suspicious Activity Reports (SARs) are filed with relevant authorities when necessary.

3.5 Record Retention

1. Records are retained for the required number of years in compliance with the latest laws surrounding AML. .

3.6 Training and Awareness

1. The necessary employees and contributors receive regular AML training.

3.7 Policy Review and Updates

1. This policy is reviewed annually or as required by regulatory changes.