AML Policy

eCheck.io maintains a comprehensive Anti-Money Laundering (AML) program designed to detect, prevent, and report suspicious financial activities. Our program is developed in accordance with:

• Bank Secrecy Act (BSA)
• USA PATRIOT Act
• FinCEN regulatory guidance
• FATF recommendations

Our AML Compliance Officer oversees the program and reports directly to senior management.

We perform thorough due diligence on all customers:

• Identity verification of all account holders and beneficial owners
• Business verification including EIN, state registration, and operating history
• Risk assessment based on business type, geography, and transaction patterns
• Enhanced due diligence for higher-risk customers
• Ongoing monitoring and periodic review of customer profiles

Customers classified as high-risk undergo additional scrutiny and more frequent reviews.

We employ automated and manual monitoring systems to detect suspicious activity:

• Real-time transaction monitoring with configurable alert thresholds
• Pattern analysis to identify unusual verification request volumes
• Velocity checks on account verification attempts
• Cross-referencing against sanctions lists (OFAC, UN, EU)
• Anomaly detection powered by machine learning models

All flagged transactions are reviewed by our compliance team within 24 hours.

When suspicious activity is identified, we follow established procedures:

• Internal investigation and documentation
• Filing of Suspicious Activity Reports (SARs) with FinCEN within required timeframes
• Currency Transaction Reports (CTRs) for qualifying transactions
• Record retention for a minimum of 5 years
• Cooperation with law enforcement investigations when required

All employees are trained to recognize and escalate potential suspicious activity.

All employees receive comprehensive AML training:

• Initial AML training during onboarding
• Annual refresher training for all staff
• Specialized training for compliance team members
• Updates when regulations or internal procedures change
• Testing and certification requirements

Training records are maintained and available for regulatory examination.