Piketplace AML/CTF Policy

1. Introduction

Piketplace, as a pioneering e-commerce platform within the Pi Network ecosystem, fully recognizes the importance of Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) measures. This policy is designed to protect the platform and its users from illicit activities and ensure compliance with local and international laws and regulations.

All Piketplace users are verified through the Pi Network KYC process, ensuring a robust and secure identity verification system for the platform.

2. Policy Objectives

• Prevent the use of Piketplace for money laundering or terrorist financing activities.
• Detect, monitor, and report suspicious activities in a timely manner.
• Ensure strict compliance with applicable regulations and legal requirements.
• Promote a secure and transparent environment for all users.

3. Scope of Application

This policy applies to:

• All Piketplace users (sellers, buyers, delivery agents, etc.).
• Piketplace representatives, employees, and business partners.
• All transactions conducted on the platform, including payments, wallet transfers, and pre-orders.

4. Implemented Measures

4.1. User Verification (KYC)

All Piketplace users must complete identity verification through the Pi Network KYC system, which includes:

• Submitting a valid form of identification (e.g., passport, national ID card, or driver's license).
• Ensuring that their verified Pi Network KYC status is linked to their Piketplace account.

4.2. Transaction Monitoring

Piketplace actively monitors transactions to:

• Identify unusual or suspicious transactions, such as high or repetitive amounts outside normal activity.
• Ensure that all transactions comply with the limits set for Pi transfers.

Temporarily block activities flagged as high-risk, pending further investigation.

4.3. Data Retention Policy

User and transaction data will be retained for a minimum of 5 years, in compliance with legal and regulatory requirements.

All data is securely stored, adhering to global data protection standards (e.g., GDPR).

4.4. Screening Against Sanctions Lists

Sellers and buyers are routinely screened against global sanctions lists (e.g., OFAC, UN, EU) to ensure compliance.

5. Reporting Suspicious Activities (SAR)

Piketplace reserves the right to report any suspicious activity to relevant authorities. This includes:

• Structuring transactions to avoid reporting thresholds.
• Use of fraudulent or fake accounts.
• Transactions involving high-risk regions or jurisdictions.

Users involved in suspicious activities will have their accounts suspended and must provide additional clarifications.

6. Training and Awareness

Piketplace employees and representatives will receive regular AML/CTF training.

Business partners will also be educated on identifying and responding to unusual behaviors or transactions.

7. User Responsibilities

Users are expected to:

• Provide accurate information during registration and transactions.
• Refrain from using the platform for any illicit activities.

8. Compliance and Cooperation

Piketplace is committed to cooperating with authorities to ensure full compliance with AML/CTF regulations.

Users are encouraged to adhere to this policy to maintain the integrity and safety of the platform.