Anti-Money Laundering and Anti-Fraud Policy

Last updated: March 5, 2024

RichSubs(“Company”, “Website”, “Service”, “we”, “richsubs.com”, “RichSubs Limited") is committed to preventing money laundering and fraud on its platform, ensuring a secure environment for content creators and their subscribers. This policy outlines the measures we take to detect, prevent, and report activities that may involve money laundering or fraud.

Introduction

This policy applies to all transactions on the RichSubs platform, including payments, withdrawals, and any financial movements facilitated by our services.

Compliance Framework

RichSubs adheres to applicable laws and regulations related to anti-money laundering (AML) and counter-terrorism financing (CTF).

Customer Due Diligence (CDD)

RichSubs performs Customer Due Diligence (CDD) to verify the identity of its users, including content creators and sometimes their subscribers. Address and identity verification is specifically performed for subscribers when they engage in a number of transactions with large amounts.

Transaction Monitoring

RichSubs employs advanced monitoring systems to scrutinize transactions for signs of money laundering or fraud. Key indicators include numerous credit card transactions using different names, rapid purchases, payment efforts originating from suspect IP addresses, and more.

  • Numerous Credit Card Transactions Using Different Names: We closely monitor accounts that process multiple transactions using various cardholder names, as this may indicate stolen credit card use.
  • Rapid Purchases: A high frequency of purchases in a short timeframe can signal fraudulent activity, warranting further investigation.
  • Payment Efforts Originating from Suspect IP Addresses: Transactions initiated from IP addresses associated with high-risk regions or known to be involved in fraudulent activities are flagged for review.
  • Attempts to Transact from IP Addresses Shared Between the Subscriber and the Creator: Transactions where the IP address of the payment originator matches or closely relates to the content creator's IP address are scrutinized to prevent self-funding schemes.
  • Acquisitions from Accounts Exhibiting Consistent Behaviors: We monitor for patterns that suggest fraudulent use, such as transactions from newly created accounts or those linked to unreliable email domains.
  • Indirect Messages Implying a Request to Return Through Alternative Payment Services: Communications suggesting off-platform repayments are flagged and investigated for potential fraud.

Reporting and Record-Keeping

RichSubs maintains detailed records of all transactions and reports any transaction deemed suspicious to the appropriate regulatory authorities.

Response Measures

Upon detection of any suspicious activity, RichSubs takes immediate action, which may include freezing the involved accounts and reversing transactions.

Review and Update of Policy

This policy is regularly reviewed and updated to reflect changes in regulatory requirements and emerging threats in money laundering and fraud.

Contact Information

For questions or to report suspicious activities, contact us.