Anti-Money Laundering (AML) Policy
Fairplay dedicates itself with complete commitment to uphold the most stringent standards both for integrity and compliance. The Anti-Money Laundering (AML) Policy at Fairplay protects against money laundering and terrorist financing while blocking financial deals utilizing criminal assets.
1. Purpose of the Policy
The AML policy establishes guidelines that enable the detection of suspicious transactions and equitable reporting of money laundering irregularities. The platform fights against anonymous and fraudulent accounts through its strong Know Your Customer protocol.
2. Regulatory Compliance
Fairplay both follows international Anti-Money Laundering standards and applies the laws of each jurisdiction where we operate. We work closely with regulatory authorities and are committed to complying with:
The Prevention of Money Laundering Act (PMLA)
Financial Action Task Force (FATF) guidelines
Any other applicable national or international AML regulations
3. Know Your Customer (KYC) Policy
The company has developed automated systems combined with manual checks to detect suspicious activities. Users must provide:
Valid identification (e.g., Passport, Aadhaar, Driving License)
Proof of address
Bank account or payment method verification
Users cannot transfer or withdraw money from their accounts until they finish the KYC verification.
4. Monitoring Transactions
Fairplay actively monitors user activity to detect:
Unusual or large transactions
Rapid deposits followed by immediate withdrawals
Use of multiple accounts by a single user
Suspicious payment patterns or third-party funding
Users must give complete cooperation to AML investigations by providing necessary documents and responding to all questions asked.
5. Reporting Suspicious Activity
All suspicious transactions and suspect behaviors that arise through our operations become reportable to government agencies by legal mandate. We may also:
Freeze the account in question
Request additional documentation
Terminate the user account if illegal activity is confirmed
6. Employee Training and Awareness
All Fairplay employees participate in recurring AML law and internal procedure training sessions. Staff members received training so they can detect suspicious activities which gets reported to the compliance team.
7. User Cooperation
Users must fully support AML-related investigations by supplying needed documentation and responding to questions. Account suspension or closure becomes a potential consequence when users fail to cooperate with requests for documents or queries.
