AML

Enhanced Security and Compliance with Regulatory Standards

Levery incorporates robust Anti-Money Laundering (AML) mechanisms to ensure a secure and compliant trading environment. A critical component of this framework is the Know Your Transaction (KYT) and Wallet Screening functions.

Know Your Transaction (KYT)

KYT involves the continuous monitoring and analysis of transactions to detect suspicious patterns and behaviors indicative of money laundering or other illicit activities. By analyzing transaction data in real-time, KYT can identify anomalies such as unusually large transactions, rapid movement of funds, and transactions involving high-risk jurisdictions.

Wallet Screening

Wallet screening functions as an additional layer of security by verifying the legitimacy of crypto wallets interacting with the Levery platform. This process involves checking wallet addresses against global watchlists, blacklists, and databases of known fraudulent or high-risk wallets. By ensuring that all wallets are screened, Levery can prevent transactions with suspicious or sanctioned entities.

Levery Integration

Levery has integrated advanced KYT and wallet screening tools to enhance its AML capabilities. This integration provides several benefits:

Real-Time Monitoring

Levery’s KYT tools continuously monitor all transactions on the platform in real-time, ensuring immediate detection and response to suspicious activities. This proactive approach helps to mitigate risks before they can escalate.

Comprehensive Wallet Screening

By screening all wallets interacting with the platform, Levery ensures that only legitimate participants are allowed to transact. This reduces the risk of engaging with illicit entities and enhances overall platform security.

Automated Alerts and Reporting

The integrated AML tools generate automated alerts for any suspicious transactions or wallet activities. These alerts enable rapid investigation and action by Levery’s compliance team, ensuring timely responses to potential threats.

Seamless User Experience

Despite the rigorous AML checks, Levery ensures a smooth and efficient user experience. Advanced automation and seamless integration of AML tools minimize friction for legitimate users while maintaining high security standards.

Compliance with Global AML Regulations and CFT Standards

Levery’s AML framework is designed to comply with global AML regulations and Counter-Terrorism Financing (CFT) standards, ensuring that the platform operates within the legal requirements of various jurisdictions. Key aspects of this compliance include:

Adherence to Global Standards

Levery complies with major international AML regulations, including those set forth by the Financial Action Task Force (FATF), the European Union’s AML directives, and the Bank Secrecy Act (BSA) in the United States. This adherence ensures that Levery meets the stringent requirements for preventing money laundering and terrorist financing.

Comprehensive Risk Assessment

Levery conducts regular risk assessments to identify and mitigate potential AML and CFT risks. This involves evaluating the platform’s exposure to various risk factors, including user demographics, transaction patterns, and geographic regions.

Robust Reporting Mechanisms

Levery maintains robust reporting mechanisms to ensure compliance with regulatory requirements. This includes the timely filing of Suspicious Activity Reports (SARs) and Currency Transaction Reports (CTRs) to relevant authorities. These reports help regulators track and investigate potential money laundering and terrorist financing activities.

Ongoing Training and Awareness

Levery’s compliance team undergoes continuous training to stay updated on the latest AML and CFT regulations and best practices. This ongoing education ensures that the team is equipped to identify and respond to emerging threats effectively.

Collaborative Approach

Levery collaborates with regulatory bodies, industry peers, and law enforcement agencies to enhance its AML and CFT efforts. This collaborative approach ensures that Levery remains at the forefront of regulatory compliance and contributes to the broader fight against financial crime.