At Clapp, we take our regulatory obligations seriously and are committed to conducting business with integrity and transparency. Our Anti-Money Laundering and Counter-Terrorist Financing framework is designed to protect our customers, our company, and the financial system from misuse.
We only provide services for legitimate and lawful purposes. Customers are subject to eligibility checks and may not use our platform if they are associated with prohibited activities, sanctioned persons or entities, or high-risk jurisdictions. We also reserve the right to refuse service to users whose background or activities we consider incompatible with our compliance standards and the safe operation of our business.
Acceptable usage of our services requires that customers act in good faith and within the limits of applicable law. Activities connected to money laundering, terrorist financing, fraud, market abuse, or any other criminal or unlawful conduct are strictly prohibited. Accounts found to be engaged in such activity will be suspended or blocked immediately.
All customers are required to undergo identification and verification procedures. We apply Know-Your-Customer measures to individuals and entities, including screening against sanctions lists, politically exposed person registers, and other risk databases.
Once onboarded, customer activity is subject to continuous monitoring. Both fiat and cryptocurrency transactions are reviewed using automated systems as well as manual oversight. Transactions that appear unusual, inconsistent with expected behavior, or otherwise suspicious are investigated and, where necessary, reported to the competent authorities. In such cases, we may restrict, suspend, or block access to accounts without prior notice.
We use a combination of proprietary internal tools and external service providers. Our monitoring framework is not static, we continuously evaluate and adopt new solutions that represent best practices in the industry. We remain proactive in adapting to regulatory developments, emerging risks, and technological advancements.
Clapp fully complies with applicable laws and regulations in all jurisdictions where we operate. We maintain open communication with regulators and supervisory authorities and follow their requirements, guidance, and directives.
We also cooperate with law enforcement agencies and respond to all lawful requests. Where required, we provide information and assistance to competent authorities in their efforts to investigate and prevent financial crime.
We do not limit ourselves to the measures described above but keep a constant hand on the pulse of industry practice. We reserve the right to implement additional measures, adopt new tools, and refine our processes whenever we consider it prudent and proper.