At MetaBenz, we are committed to fostering a secure digital trading environment by actively combating money laundering and terrorist financing. These illicit activities undermine the integrity of financial systems, perpetuate corruption, and compromise user rights. To uphold the highest standards of compliance and protect our platform, we have instituted comprehensive rules, aligned with international regulations and our User Agreements.
Scope of Application
Our policy is applicable to all users on the MetaBenz website and mobile app ("the Platform"). Users are expected to comply with anti-money laundering (AML) and counter-terrorism financing (CTF) laws relevant to their respective jurisdictions. Where local regulations impose stricter requirements, those will take precedence.
Our Commitment
MetaBenz is dedicated to preventing money laundering across various domains including drug trafficking, organized crime, terrorism, smuggling, corruption, financial fraud, and violations of financial laws.
Key Components of Our AML Framework:
- Policy Documentation: This includes our AML Rules, sections from the MetaBenz Website and App User Agreements, guidelines for managing large transactions, and OTC Platform AML directives.
- Guiding Principles: We adhere to principles of thoroughness, prudence, confidentiality, and hierarchical management to ensure robust risk monitoring.
- Oversight Structure: Our AML operations are managed by a specialized guidance group and a dedicated team from the risk control and compliance departments. The guidance group sets strategic direction while the team executes policies, analyzes suspicious transactions, and engages with authorities.
Due Diligence
Individual Users: Must submit personal details including name, address, birthdate, nationality, contact information, a recent photo, and identity documents.
Institutional Users: Must provide comprehensive information such as the institution's name, address, contact details, legal documents, equity structure, and consent for account creation.
Document Verification: We accept documents in Chinese and English. Non-standard language documents must be translated by a certified translator and notarized. All document copies must be verified, notarized, and certified.
Photographic Verification: Users are required to provide a photo holding their ID and a statement confirming their account with MetaBenz.
User Risk Classification
We categorize users into risk levels—low, medium, and high—based on transaction behavior, location, and other factors to tailor our AML measures.
- High-Risk Users: Subject to enhanced scrutiny if they are under investigation, hold public office, reside in high-risk areas, or display unusual transaction patterns.
- Medium-Risk Users: Receive additional monitoring based on certain risk factors but are less scrutinized than high-risk users.
- Low-Risk Users: Typically established institutions or compliant individuals, subject to standard procedures.
Dynamic Risk Management: User risk levels are regularly reassessed to address evolving threats and regulatory demands.
Transaction Monitoring and Limits
- Trading Limits: We set limits to prevent misuse, including caps on withdrawals.
- Suspicious Transactions: Transactions are monitored for anomalies, such as large sums or unusual patterns. Suspicious activities are promptly investigated and reported.
- Terrorist Financing Prevention: Measures are in place to detect and prevent transactions linked to terrorism. Suspicious activities are reported to authorities.
Data Storage and Confidentiality
- User Data Security: We maintain a secure system for user information and transaction records. Data is stored for at least five years to ensure compliance and support audits.
- Judicial Cooperation: MetaBenz collaborates with law enforcement and regulatory authorities, providing necessary information for investigations.
User Responsibilities
- Account Security: Users should not share their accounts or personal information. Cooperation with our identification processes is essential for compliance.
- Reporting Suspicious Activity: We encourage users to report any suspicious activity to help us maintain a secure trading environment.
Effective Date
This policy is effective immediately, ensuring that all users adhere to these standards for AML and CTF compliance.
By upholding these guidelines, MetaBenz strives to create a safe and transparent trading platform, safeguarding both our users and the broader financial ecosystem from illicit activities.