Copaly Technologies (individually and collectively, the “Company”), incorporated under the laws of Nigeria offers services through an internet-enabled application marketplace for the purchase and sale of digital assets.
The Company Anti-Money Laundering (“AML”) policies and procedures are designed to deter illicit activities on the platform and protect the users, the business, and the digital currencies and financial services communities from exploitation by criminals. The Company is compliant with the requirements of the Bank Secrecy Act and related FinCEN/SEC regulations and guidance.
As part of the Company’s compliance policies, Know Your Customer (“KYC”) policies and procedures for individual customers have been designed to enable the Company to form a reasonable belief that it knows the true identity of those of its customers for which such review has been performed. The policy applies to all users on the platform and is followed by all of the Company’s employees, consultants, officers, owners, and directors.
Compliance Measures
Using a risk-based approach as part of KYC & AML Compliance, Copaly has taken the following measures:
- Appointment of a Chief Compliance Officer who has a sufficient level of expertise and independence has responsibility for the oversight of compliance with the relevant legislation, regulations, rules, and industry guidance;
- Establishing and maintaining risk-based KYC, Customer Due Diligence (CDD), and Enhanced Due Diligence (EDD) Policy;
- Establishing risk-based tiers for verification of the Company’s users;
- Cooperation with law enforcement requests and local regulatory requirements;
- Filing of Suspicious Activity Reports (“SARs”);
- Company-wide BSA/AML/OFAC training;
- Use of various anti-fraud systems;
- Ongoing rule-based transaction monitoring;
- Investigations using blockchain analytics;
Suspicious Activity Reports (SARs)
We file SARs if we know, suspect, or have reason to suspect suspicious activities have occurred on our platform. A suspicious transaction is one that is inconsistent with a user's known and legitimate business or personal activities. Our Chief Compliance Officer reviews and investigates suspicious activity to determine if sufficient information exists to justify filing a SAR.
Training & Oversight
We maintain company-wide training on BSA/AML/OFAC policies to ensure all team members understand their role in maintaining platform security and compliance.
Contact
Please contact Copaly directly through support@copaly.com with any questions or concerns regarding our AML & CFT Policy.