verified_user Regulatory Compliance

Anti-Money Laundering (AML) & KYC Policy

PAIVA is committed to maintaining the highest standards of financial integrity and regulatory compliance to ensure a secure environment for all users.

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FINTRAC Registered

PAIVA is officially registered with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). Our operations are strictly governed by the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA).

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Know Your Customer (KYC)

Comprehensive identity verification processes to ensure we know exactly who is using our platform.

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    Identity Verification Validation of government-issued photo identification documents.
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    Biometric Matching Liveness checks to prevent impersonation and deepfake fraud.
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    Address Proofing Verification of residency through utility bills or bank statements.
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Sanctions Screening

Continuous monitoring against global watchlists and sanction databases to prevent illegal asset flows.

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    Global Watchlist Checks Monitoring against UN, OFAC, and HMT sanction lists.
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    PEP Screening Identification of Politically Exposed Persons and their associates.
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    Adverse Media Monitoring Daily checks for relevant negative news and legal proceedings.

1. Policy Objectives

PAIVA adopts this Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) Policy to mitigate the risk of being used for illicit purposes. Our primary objectives include:

  • Preventing criminals from using PAIVA for laundering proceeds of crime.
  • Identifying and reporting suspicious activities to the relevant authorities.
  • Ensuring compliance with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA).
  • Protecting the reputation of PAIVA and the safety of our users' assets.

2. Reporting Obligations

As a reporting entity, PAIVA is required to file various reports with FINTRAC, including but not limited to:

STR (Suspicious Transaction Reports) Filed when there are reasonable grounds to suspect that a transaction is related to money laundering or terrorist financing.
LCTR (Large Cash Transaction Reports) Filed for transactions involving $10,000 or more in cash within a 24-hour period.

3. Transaction Monitoring

We employ sophisticated automated systems combined with human oversight to monitor all user transactions. Our system flags activities that deviate from established patterns, such as:

  • Structuring (breaking down large transactions into smaller amounts).
  • Unusual geographic origins of funds.
  • Rapid movement of funds across multiple accounts without clear economic purpose.
  • Transactions involving high-risk jurisdictions.
Live Intelligence

Advanced Detection Engine

Real-time algorithmic scanning for irregular transaction sequences.

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Dedicated Compliance Office

If you have questions regarding our AML policies or need to report suspicious activity, please contact our Chief Compliance Officer.

Contact Compliance Dept