Anti-Money Laundering (AML) and Know Your Customer (KYC) Laws

for

Leonine Coin Decentralised Token (LCDT)

AML and KYC Policy

Purpose
The primary objective of AML (Anti-Money Laundering) and KYC (Know Your Customer) policies is to ensure that Leonine Coin Decentralised Token (LCDT) operates in a secure, transparent, and legal environment. These measures aim to prevent money laundering, fraud, terrorism financing, and other illegal activities while ensuring the identity of all users is verified.

AML Policy

Key Objectives

• Prevent Money Laundering: Prevent the use of LCDT for illegal financial activities, including money laundering, fraud, and other illicit financial transactions.
• Promote Transparency: Ensure all transactions conducted within the LCDT ecosystem are traceable and auditable.
• Compliance: Ensure adherence to local and international regulatory standards.

AML Procedures

1. Transaction Monitoring: All transactions involving LCDT are monitored for suspicious activities using advanced tracking mechanisms.
2. Risk Assessment: Implement risk-based approaches for assessing transactions and user profiles.
3. Sanctions Screening: Users are screened against global sanctions lists to prevent access by prohibited individuals or entities.
4. Data Retention: Transaction data and user information are retained securely for auditing and regulatory purposes as required by law.

KYC Policy

Key Objectives

• Identity Verification: Establish and verify the identity of users engaging in LCDT transactions.
• Prevent Fraud: Minimize fraudulent activities by ensuring that users are genuine and their transactions are legitimate.
• Compliance: Adhere to KYC and Anti-Money Laundering laws in accordance with applicable jurisdictions.

KYC Procedures

1. User Registration: All users are required to register by providing identity information such as full name, date of birth, address, and government-issued identification (e.g., passport, driver’s license, or other government ID).
2. Document Verification: Users may be required to upload supporting documents to verify their identity.
3. Real-time Verification: Integration with third-party verification services to ensure that the provided information is accurate and valid.
4. Self-certification: Users may be asked to sign a self-certification attesting that they are the rightful owner of the wallet and have not engaged in illegal activities.

AML and KYC Benefits

• Enhanced Security: Reduces the risk of fraud, money laundering, and other illegal activities.
• Increased Trust: Users have greater confidence knowing that LCDT operates in a regulated environment.
• Compliance: Ensures that LCDT adheres to local and global regulatory standards.

Compliance with Regulations

• Global Standards: LCDT follows AML/KYC practices consistent with international standards such as FATF (Financial Action Task Force) recommendations.
• Local Jurisdictions: Adhering to country-specific laws and regulations regarding cryptocurrency and blockchain transactions.

User Rights

• Users have the right to request their personal data to be corrected or deleted in compliance with privacy regulations.
• Users may raise concerns regarding their KYC status, and disputes will be resolved in accordance with the terms of service and applicable law.

AML/KYC Violations and Sanctions

• Violations of AML/KYC policies may result in the following actions:
  • Account suspension or termination.
  • Legal action as necessary.
  • Blacklisting of users’ accounts.

Legal Advisor Approval

Legal Advisor
Jowens Law Firm