Overview
As part of Cedar’s Know Your Client (KYC) process, we conduct thorough screenings to ensure compliance with international regulations and to maintain a secure and compliant platform. One of the key aspects of this process is verifying that applicants are not listed on any sanctions lists.
Key Criteria Considered:
Geographical Eligibility
We ensure that applicants are from geographically eligible regions and comply with the specific legal and regulatory requirements associated with their location.
Sanctions List Screening
Applicants undergo a screening against prevalent sanctions lists, including those maintained by global authorities such as the United Nations, European Union, and U.S. Department of the Treasury (OFAC).
If an applicant is identified on any of these sanctions lists, they will be deemed ineligible to proceed with the onboarding process.
Sanctioned Individuals
Sanctioned individuals, including politically exposed persons (PEPs) or those with ties to criminal activities, will not be eligible to complete the onboarding process.
Cedar is committed to adhering to anti-money laundering (AML) and combating the financing of terrorism (CFT) regulations to protect all parties involved.
Why This Matters
The purpose of these screenings is to mitigate risk, ensure compliance with global regulations, and create a secure environment for all users. By excluding individuals or entities on sanctions lists, Cedar is able to maintain its high standards of integrity and safety for all clients.
If you have any questions or concerns, please don’t hesitate to contact us for more information at support@cedar.money.