Anti-Money Laundering (AML) & CTF Policy

Binfrex complies strictly with global economic, trade, and financial sanctions regimes:

• Automated Real-Time Watchlist Screening: Continuous screening against UN Security Council, US OFAC SDN, EU Consolidated, UK HM Treasury, and MAS Targeted Financial Sanctions lists.
• FATF High-Risk & Excluded Jurisdictions: Access is strictly barred for residents of North Korea (DPRK), Iran, Myanmar, Syria, Cuba, Crimea, Donetsk, Luhansk, and jurisdictions subject to FATF Blacklist countermeasures.
• Politically Exposed Persons (PEP): Senior public officials, heads of state, military commanders, and their immediate families are subjected to mandatory Senior Management sign-off and continuous EDD.

Our 0% fee P2P marketplace operates on direct Local-to-Local domestic payment rails (UPI, Pix, Bkash, Nagad, SEPA, PromptPay, local bank wire) under strict anti-mule controls:

• Strict 100% KYC Name Matching Mandate: The legal name on the domestic bank account or mobile wallet must match the verified KYC name on Binfrex exactly. Third-party payments are strictly rejected and trigger account freezing.
• Anti-Money Mule & Smurfing Detection: Automated telemetry monitors order frequencies and counterparty diversity to intercept smurfing (structuring small trades to evade thresholds) and unlicensed remittance routing.
• Merchant Collateral Bonds (500–5,000 USDT): Certified merchants maintain locked security deposits. Proven infractions result in automated fines debited directly to compensate aggrieved traders.

To prevent the platform from being utilized as an intermediary money laundering, mixing, or currency conversion conduit:

No Tipping-Off & 7-Year Statutory Retention: Suspicious Transaction Reports (STR) are filed directly with Singapore STRO and international FIUs without notifying the subject. All verified KYC records, passport scans, biometric vectors, and transaction logs are stored in cold encrypted archives for a mandatory period of 7 years post-account closure.