AML & Sanctions
We are a regulated custodian of crypto assets and have a program to prevent the wallet from being used for money laundering, terrorist financing and sanctions evasion.
Program summary
- Risk-based KYC, triggered by activity volume, velocity, jurisdiction and counterparty risk.
- Real-time screening against OFAC, EU and UK sanctions lists.
- Automatic blockchain analytics on incoming and outgoing transactions.
- Dedicated MLRO and quarterly compliance reviews.
Restricted jurisdictions
FaucetPay is not available to residents of jurisdictions on global sanctions lists or in countries where crypto custody is prohibited. The current list is enforced at signup and whenever applicable law changes.
KYC triggers
Most users never need to submit KYC. We require verification when activity exceeds risk thresholds (cumulative deposits, withdrawals to high-risk addresses, suspicious patterns) or when required by law. KYC data is encrypted at rest and retained only for the legally required period.
Reporting
We file Suspicious Activity Reports (SARs) where legally required. We do not notify affected users where the law prohibits us from doing so.
Contact
Compliance: [email protected].