Credit Cure’s – Anti-Money Laundering & KYC Policy

Effective Date: 9 November 2024

At CreditCure.ai, we are committed to maintaining the integrity of our platform by complying with Anti-Money Laundering (AML) regulations and Know Your Customer (KYC) requirements. This policy outlines the measures we take to prevent money laundering, fraud, and other financial crimes while ensuring the authenticity and security of our users’ identities.

1. Objectives of the AML & KYC Policy

• To comply with applicable AML and KYC laws and regulations.
• To prevent and detect any potential misuse of the CreditCure.ai platform for money laundering or fraudulent activities.
• To ensure transparency and maintain a secure financial ecosystem for our users.

2. Applicability

This policy applies to:

• All users of the CreditCure.ai platform, including individuals and businesses.
• Employees, consultants, and third-party service providers associated with CreditCure.ai.

3. KYC Process

To ensure compliance with KYC requirements, users must provide accurate and valid identification during the registration and onboarding process.

• Information Collected:
• For Individuals:
  • Full Name
  • Date of Birth
  • Address Proof (e.g., utility bill, Aadhaar card, voter ID)
  • Identity Proof (e.g., PAN card, passport, driving license)
  • Contact Details (email and phone number)
• For Businesses:
  • Company Name and Registration Details
  • Address Proof of the Business
  • Authorized Signatory Identification
  • Financial Documents (e.g., tax filings, audited statements)
• Verification:
  • Documents submitted are verified using industry-standard tools and government databases.
  • Any discrepancies or fraudulent submissions may lead to account suspension or termination.

4. AML Measures

CreditCure.ai adopts stringent measures to prevent money laundering:

• Transaction Monitoring:
  • All transactions are monitored for unusual or suspicious patterns.
  • Large or high-risk transactions are flagged for further investigation.
• Risk-Based Approach:
  • Users are categorized into low, medium, and high-risk groups based on factors like geographic location, nature of business, and transaction volume.
  • Enhanced due diligence is conducted for high-risk users.
• Reporting Suspicious Activities:
  • Any activity suspected to be linked to money laundering is reported to the appropriate regulatory authority, such as the Financial Intelligence Unit – India (FIU-IND).
• Record Keeping:
  • User records, transaction histories, and due diligence documents are maintained for a minimum of 5 years or as required by law.

5. User Responsibilities

Users of CreditCure.ai must:

• Provide accurate and truthful information during the KYC process.
• Avoid conducting transactions that violate AML regulations.
• Report any suspicious activity observed on the platform to support@creditcure.ai.

6. Penalties for Non-Compliance

Non-compliance with AML or KYC requirements may result in:

• Suspension or termination of user accounts.
• Reporting the incident to relevant authorities.
• Legal action, if necessary, under applicable laws.

7. Training and Awareness

CreditCure.ai ensures that all employees and associated personnel:

• Are trained on AML and KYC regulations.
• Understand the importance of compliance in mitigating risks.
• Stay updated on changes in regulatory requirements.

8. Compliance with Regulations

CreditCure.ai strictly adheres to:

• The Prevention of Money Laundering Act, 2002 (PMLA) in India.
• Guidelines issued by the Financial Intelligence Unit – India (FIU-IND).
• Any other applicable local or international AML and KYC regulations.

9. Updates to This Policy

This policy may be updated periodically to reflect changes in regulatory requirements or business practices. Users will be notified of significant changes via email or platform notifications.

10. Contact Us

For any questions or concerns regarding our AML & KYC Policy, please contact us:

• Email: support@creditcure.ai
• Phone: +91-7305010646

At CreditCure.ai, we are committed to building a transparent and secure financial environment. Your cooperation helps us maintain the integrity of our platform and comply with regulatory standards.