Anti-Money Laundering/
Know Your Customer (AML/KYC)

By agreeing to the Terms and Conditions, Members also acknowledge that the Company has implemented an AML/KYC program summarized hereafter. All capitalized terms not defined herein shall have the meaning ascribed to them in the Terms and Conditions, as applicable.

The Company protects itself and fights against money laundering, terrorist financing or sanctioned subjects and activities by establishing the following:

  • A system of internal controls designed to assure ongoing AML compliance
  • Independent testing of AML compliance through an annual, independent AML audit
  • Designation of a Compliance Officer for managing AML Compliance
  • AML training for employees

Internal Controls

The Company has established a set of AML/KYC policies and procedures to define and guide the operations of internal controls for the purpose of ensuring that its operations comply with relevant AML requirements and risk mitigation measures.

Independent Testing

The Company’s AML program will be subject to independent testing through an annual, independent AML audit.

BSA officer and chief compliance officer

The Company has appointed a BSA Officer to be responsible for the management, coordination and monitoring of compliance with the Company’s internal controls. The BSA Officer reports to the Chief Compliance Officer based on governance structure.


Employees or contractors of the Company are required to receive AML training at least annually. Ongoing training will be provided and updated regularly to reflect current developments and changes to laws and regulations.

Customer Identification Program and Notice

Each Member that opens a new account on the Company’s platform will be directed to complete the procedures established for the Customer Identification Program (“CIP”). It is the Company’s policy to ensure that each Member who uses the Company’s platform has been reasonably identified.

Important Information About Procedures for Opening a New Account

To help the Government fight the funding of terrorism and money laundering activities, we obtain, verify, and record information that identifies each person who opens an account.

What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver's license or other identifying documents.

If you are an entity customer or prospective customer, we will ask for your registration document, incorporation document, license document or similar evidence that establishes your entity identity. We will also ask for your controller and ultimate beneficial owners’ identification information.

Account Opening Procedures

The following additional steps will be taken during account opening process,:
  • cross-check the names of users against Government Lists such as the OFAC Specially Designated Nationals list;
  • require users to verify and validate their identity and identification documents presented at onboarding; and
  • not permit any activity on platform with incomplete account opening information.

Identity Verification


  • Individual name
  • Date of birth
  • Residential address
  • Identification number
  • Acceptable and valid government-issued identification document (e.g., drivers license, passport, national identification card)

  • Institution name
  • The address of the institution’s principal place of business and, if different, the institution’s mailing/registered address
  • Identification number of the institution (e.g., employer identification number)
  • Name of institution’s representative/user for the account
For institutions, the Company will collect the identifying information with respect to each beneficial owner and will use risk-based procedures to verify the identity of such beneficial owners, including:
  • Acceptable and valid government-issued identification document (e.g., drivers license, passport, national identification card) for each beneficial owner; and
  • Proof of residency (e.g., utility bills, government issued correspondence, documentation issued by recognized financial institutions).
Customer due diligence procedures will include additional information regarding the institution including but not limited to the following:
  • A description of the institution’s business, including products and services, main Member types, and geographies served;
  • Purpose of account; and
  • Source of funds.

Use of Moneta for Illegal Activity Prohibited

We may freeze, temporarily or permanently, your use of, and access to Moneta or the fiat backing your Moneta, with or without advance notice, if we are required to do so by law, including by court order or other legal process.

Your Moneta and the fiat backing your Moneta may be subject to seizure or forfeiture by law enforcement, and we will comply with legal process in respect thereof.

If we determine after investigation that Moneta has been used, or is being used, for illegal (or sanctioned) activity, we may not permit you to redeem your Moneta for fiat from Moneta Holdings, and, if presented for redemption, such Moneta and the fiat backing such Moneta may be forfeited.

Any Moneta or fiat currency underlying Moneta that is subject to freeze, seizure, forfeiture or similar limitation on its use imposed by law may become wholly and permanently unrecoverable and unusable, and in appropriate circumstances, may be destroyed.

This applies to all holders of Moneta, regardless of whether the holder is a Member (as such term is defined in the Moneta Holdings Terms and Conditions) of Moneta Holdings.

By using Moneta, you agree that we may take the actions set forth above and that we will not be liable to you therefore.

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