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KYC & AML Policy

Know Your Customer & Anti-Money Laundering Compliance

Last updated: June 3, 2026

1. Introduction

ProlificMining.com is committed to maintaining the highest standards of compliance with international AML (Anti-Money Laundering) and KYC (Know Your Customer) regulations. This policy ensures that we prevent financial crime, terrorist financing, and illicit fund transfers.

2. Legal Basis

Our KYC & AML procedures comply with:

  • Financial Action Task Force (FATF) Recommendations
  • EU 5th Anti-Money Laundering Directive (5AMLD)
  • U.S. Bank Secrecy Act (BSA)
  • FinCEN Guidance on Virtual Assets
  • Relevant national financial crimes legislation

3. Know Your Customer (KYC) Requirements

All users must complete KYC verification to access platform features:

  • Basic Information: Full legal name, date of birth, nationality, email, phone
  • Identity Verification: Government-issued ID (passport, driver's license, national ID)
  • Proof of Address: Utility bill, bank statement, or official government document dated within 3 months
  • Source of Funds Declaration: Confirmation that funds are from legitimate sources
  • Beneficial Ownership: For corporate accounts, disclosure of ultimate beneficial owners (25%+ stakes)

4. Enhanced Due Diligence (EDD)

For transactions above $10,000 USD or when risk indicators are present, we conduct Enhanced Due Diligence:

  • Verification of income and employment
  • Banking relationship confirmation
  • Source of wealth documentation
  • Politically exposed persons (PEP) screening
  • Sanctions list and watch list checks

5. Anti-Money Laundering (AML) Monitoring

Our systems continuously monitor transactions for suspicious patterns:

  • Transaction Monitoring: Real-time analysis for unusual activity
  • Threshold Alerts: Automatic flagging of large rapid transfers
  • Beneficial Ownership Verification: Ensuring legitimate fund sources
  • Sanctions Screening: Cross-referencing against OFAC, EU, and UN lists
  • Counterparty Screening: Verification of external wallet and bank recipients

6. Suspicious Activity Reporting

If we suspect money laundering or terrorist financing, we will:

  • File a Suspicious Activity Report (SAR) with FinCEN within 30 days
  • Implement filing restrictions to prevent tipping off the subject
  • Maintain detailed investigation records
  • Cooperate fully with regulatory and law enforcement authorities
  • Retain records for a minimum of 5 years

7. Prohibited Users and Activities

We do not provide services to individuals or entities:

  • On OFAC, EU, UN, or national sanctions lists
  • Politically Exposed Persons (PEPs) without enhanced documentation
  • Involved in illegal activities or money laundering schemes
  • Engaged in terrorist financing
  • From high-risk jurisdictions identified by FATF or ICRG
  • Using third-party accounts or shell companies for concealment

8. Cryptocurrency Compliance

For crypto-related transactions, we apply Travel Rule compliance:

  • Collecting and transmitting originator and beneficiary information
  • Verifying external wallet ownership
  • Monitoring for mixing services and tumblers
  • Reporting suspicious blockchain addresses

9. Data Protection and Retention

All KYC and AML documentation is:

  • Stored securely with encryption
  • Accessible only to authorized compliance personnel
  • Retained for 5 years post-account closure per regulatory requirement
  • Protected against unauthorized disclosure
  • Subject to GDPR data protection standards

10. Account Suspension and Termination

We may immediately suspend or terminate accounts in the following cases:

  • Failure to provide valid KYC documentation
  • Providing false or fraudulent information
  • Sanctions list hits or PEP identification
  • Detection of money laundering or terrorist financing indicators
  • Involvement in illegal activities

11. Compliance Officer Contact

For questions regarding our KYC/AML policies:

Compliance Department: compliance@prolificmining.com
Response Time: 5 business days

12. Updates and Amendments

This policy is reviewed quarterly and updated to reflect changing regulatory requirements. Users will be notified of material changes via email or dashboard notification.

By using ProlificMining.com, you acknowledge your compliance with applicable AML/KYC regulations and commit to providing accurate information during verification processes.