Anti-Money Laundering (AML) Policy

1. Introduction

ForKobo is dedicated to the highest standards of anti-money laundering (AML) and counter-terrorist financing (CTF) compliance. This policy outlines our measures to prevent the misuse of our platform for illegal activities, in line with international standards such as the Financial Action Task Force (FATF), local regulatory frameworks, and industry best practices.

2. Scope of Policy

This policy applies to all ForKobo users, partners, employees, contractors, agents, and affiliates. It covers all products and services offered by ForKobo, regardless of jurisdiction.

3. Our Commitment

ForKobo maintains a zero-tolerance approach to money laundering, terrorism financing, and other forms of financial crime. We are committed to maintaining a robust compliance framework that includes ongoing risk assessment, customer due diligence (CDD), suspicious activity monitoring, and timely regulatory reporting.

4. User Responsibilities

  • Provide complete, accurate, and verifiable identity information during registration.
  • Promptly update any changes to your personal or financial information.
  • Refrain from using your account for illicit purposes including fraud, scams, or money laundering.
  • Cooperate with all compliance checks and requests for documentation or re-verification.
  • Immediately report any suspicious activity to ForKobo via our compliance team or support@forkobo.com.

5. Know Your Customer (KYC) & Enhanced Due Diligence (EDD)

We implement strict KYC processes for all customers, which include:

  • Identity verification via government-issued documents.
  • Biometric facial recognition where required.
  • Proof of address and source of funds verification for high-risk transactions.
  • Ongoing monitoring and periodic re-verification based on risk profile.

6. Transaction Monitoring

ForKobo uses automated and manual systems to monitor all transactions and activities. We screen for:

  • High-volume or high-frequency transactions inconsistent with user profiles.
  • Unusual or suspicious transfers across borders or between unrelated parties.
  • Use of high-risk jurisdictions or anonymizing tools.

All flagged activity is escalated to our Compliance Team for further investigation and may be reported to the appropriate authorities.

7. Sanctions & Prohibited Use

ForKobo screens users against global sanctions lists including but not limited to OFAC, UN, EU, and HM Treasury. We prohibit service to users or entities located in or associated with sanctioned countries or activities.

8. Staff Training & Internal Controls

All employees undergo mandatory AML/CTF training during onboarding and at least annually thereafter. Our Compliance Officer ensures the implementation of internal policies, regular audits, and adherence to regulatory obligations.

9. Record Retention

All customer identification, transaction history, and due diligence records are securely stored for a minimum of 5 years from the date of the last transaction or account closure, in compliance with applicable data protection laws.

10. Reporting Obligations

ForKobo complies with all obligations to file Suspicious Activity Reports (SARs) or Suspicious Transaction Reports (STRs) with the appropriate authorities when applicable. We cooperate with regulators, financial intelligence units (FIUs), and law enforcement. ForKobo complies with all applicable AML/CTF laws and regulations. We cooperate fully with law enforcement and regulatory agencies as required by law.

11. Contact Us

For questions regarding this policy or to report suspicious activity, contact our Compliance Team via support@forkobo.com. We treat all reports with confidentiality and urgency.