Anti-Money Laundering (AML) & KYC Policy

  • Effective Date: 7th March 2025
  • Company Name: DEALSETTLE LTD
  • Company Registration Number: 16293084
  • Registered Office: 128 City Road, London, United Kingdom, EC1V 2NX

At DealSettle, we are committed to preventing money laundering, terrorist financing, fraud, and financial crimes. To comply with UK Anti-Money Laundering (AML) regulations, Know Your Customer (KYC) requirements, and global financial security standards, we enforce strict AML & KYC policies for all users.

By using DealSettle, you agree to comply with our AML & KYC policies and provide verification when required.

Purpose of This Policy

  • The primary objectives of our AML & KYC Policy are to:
  • Prevent money laundering, financial fraud, and illegal activities.
  • Ensure compliance with UK financial regulations and global AML laws.
  • Protect users from fraudulent transactions and identity theft.
  • Identify and verify users conducting transactions on our platform.
  • Monitor transactions for suspicious activity and report them if necessary.

These measures safeguard DealSettle from being used for illicit financial activities.

Legal & Regulatory Compliance

  • We strictly adhere to the following laws and financial regulations:
  • UK Anti-Money Laundering Regulations – Ensures financial transparency and crime prevention.
  • Financial Action Task Force (FATF) Standards – International guidelines for AML compliance.
  • Proceeds of Crime Act 2002 (POCA) – UK law preventing money laundering and illegal funds movement.
  • UK Know Your Customer (KYC) & Customer Due Diligence (CDD) Regulations – Verifies user identity before transactions.
  • Counter-Terrorism Financing (CTF) Rules – Prevents funding of terrorist organizations.

We work closely with regulatory authorities to maintain full compliance.

KYC (Know Your Customer) Policy

To ensure a secure transaction environment, we enforce KYC verification for users exceeding specific transaction limits.

  • When is KYC Required?
  • Transactions up to $1000 per day – No KYC required.
  • Transactions exceeding $1000 per day – Mandatory KYC verification.
  • Maximum transaction limit: $5000 per day per user.
  • KYC Verification Requirements
  • Users required to complete KYC must submit:
  • Government-issued ID (passport, driver’s license, or national ID).
  • Proof of address (utility bill, bank statement, or rental agreement).
  • Selfie verification (to match ID for fraud prevention).
  • Additional documents (if required for enhanced due diligence).

Failure to provide KYC documents may result in transaction cancellation and account suspension.

AML Transaction Monitoring & Risk Assessment

We monitor user transactions to detect and prevent fraudulent activities. Our risk assessment process includes:

  • Transaction monitoring – Reviewing user transactions for irregular patterns.
  • Suspicious activity detection – Identifying high-risk transactions.
  • Risk-based approach – Applying enhanced due diligence for high-risk users.
  • Regulatory reporting – Reporting suspected money laundering activities to relevant authorities.

We reserve the right to investigate and block suspicious transactions without prior notice.

Prohibited Activities & High-Risk Transactions

  • To maintain security and compliance, the following activities are strictly prohibited:
  • Money laundering or financial crime-related transactions.
  • Transactions attempting to bypass AML/KYC requirements.
  • Fraudulent identity usage or false document submission.
  • Engaging in high-risk transactions flagged for financial crime risks.
  • Transactions linked to sanctioned individuals or blacklisted countries.
  • Engaging in prohibited activities will result in immediate account suspension and possible legal action.

User Responsibilities & Compliance Requirements

  • Users of DealSettle must agree to the following AML & KYC obligations:
  • Provide accurate personal and financial details.
  • Complete KYC verification when required.
  • Ensure their transactions comply with UK financial laws.
  • Avoid engaging in or facilitating money laundering or fraud.
  • Report any suspicious activity to DealSettle immediately.

Failure to comply with these obligations may result in account suspension and legal enforcement.

How We Handle Suspicious Activity & Compliance Reporting

  • If suspicious activity is detected, DealSettle may:
  • Freeze the transaction until further investigation.
  • Request additional identity verification.
  • Report the activity to regulatory authorities.
  • Terminate the user account if fraudulent behavior is confirmed.

We are legally required to report suspicious financial activity to financial intelligence authorities.

Data Protection & Privacy Under AML & KYC

  • We comply with UK GDPR to protect user data collected for AML & KYC compliance:
  • All user data is encrypted and securely stored.
  • KYC documents are used solely for identity verification purposes.
  • We do not share user data with third parties, except as required by law.

For more details, read our Privacy Policy.

Changes to This AML & KYC Policy

  • DealSettle reserves the right to update this policy as required by law.
  • Major changes will be notified to users via email or platform updates.
  • Continued use of DealSettle means you accept the updated AML & KYC terms.

Check this page periodically for updates.

Contact Information

For questions regarding our AML & KYC Policy, contact us:

DealSettle – Committed to Secure, Compliant, and Transparent Transactions.

DealSettle is a UK-registered escrow platform (Company No: 16293084) that ensures secure online transactions. Whether you’re a buyer, seller, or freelancer, we protect your funds until the transaction is complete. No scams. No risks. Just safe, instant, and trusted transactions.

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