Sendtech Innovations Limited Anti-Money Laundering (AML) Policy

Effective date: 20/02/2024

1. Introduction

Sendtech Innovations Limited is committed to preventing the use of its technological infrastructure for money laundering and terrorist financing activities. This Anti-Money Laundering (AML) Policy outlines the company’s approach to identifying, assessing, and managing money laundering and terrorism financing risks associated with its operations. 

2. Company Overview

Sendtech Innovations Limited operates the Sendcrypto website and mobile application, providing a non-custodial wallet service that allows users to consolidate their Web3 wallets and interact with third-party crypto service providers. Sendtech Innovations does not partake in any crypto transaction flow or money flow between users or third-party service providers and does not perform Know Your Customer (KYC) checks on its users.

3. AML Compliance Officer

Sendtech Innovations Limited will designate an AML Compliance Officer responsible for the implementation and enforcement of the AML policy. The AML Compliance Officer will have appropriate authority and resources to monitor compliance with applicable laws and regulations.

4. Risk Assessment

Given its business model, Sendtech Innovations will regularly assess and document the money laundering and terrorism financing risks associated with its technological infrastructure and its users’ activities. This assessment will inform the development and implementation of the AML program.

5. Third-Party Service Providers

While Sendtech Innovations does not directly engage in KYC procedures, it is committed to working only with reputable third-party service providers that conduct thorough KYC and AML checks as required by applicable laws and regulations. Sendtech Innovations will periodically review the AML practices of these partners to ensure compliance.

6. User Due Diligence

Although Sendtech Innovations does not directly perform user due diligence, it encourages users to engage with third-party service providers that maintain robust AML and KYC procedures. The company will provide users with information on the importance of these practices for preventing money laundering and terrorism financing.

7. Monitoring and Reporting

Sendtech Innovations will implement mechanisms to monitor user activities on its platform to identify suspicious patterns that may indicate money laundering or terrorism financing. While Sendtech Innovations is not directly involved in the transactions, it will report suspicious activities to the appropriate authorities in accordance with applicable laws and regulations.

8. Training and Awareness

Sendtech Innovations will provide AML training to its employees, particularly those involved in managing the Sendcrypto platform. This training will cover the basics of money laundering and terrorism financing, the company’s AML policies and procedures, and the legal obligations pertaining to the detection and reporting of suspicious activities.

9. Record Keeping

Sendtech Innovations will maintain records of its AML risk assessments and monitoring activities. These records will be kept for a minimum period as required by applicable laws and regulations.

10. Policy Review and Update

This AML Policy will be reviewed and updated regularly to reflect changes in legislation, regulatory guidance, and the evolving nature of the business and its associated risks. 

11. Conclusion

Sendtech Innovations Limited is dedicated to maintaining a robust AML framework that supports a secure and transparent environment for the users of its Sendcrypto platform, in line with the best practices of non-custodial crypto wallet providers.

If you have any questions about these Terms or about the Company in general, please contact us: [email protected].