Foundect

Anti-Money Laundering (AML) & Know Your Customer (KYC) Policy

Last Updated: 20 December, 2025

This Anti-Money Laundering (AML) and Know Your Customer (KYC) Policy ("Policy") outlines Foundect's approach to identity verification, risk mitigation, and prevention of financial misuse on the Foundect platform.

This Policy is intended to support ethical, lawful, and transparent participation and does not constitute legal advice.

1. Purpose of This Policy

The purpose of this Policy is to:

  • Prevent money laundering, fraud, and financial crime
  • Verify the identity of users
  • Support lawful and ethical financial activity
  • Protect the integrity of the Foundect platform

2. Regulatory Context

Foundect operates in Bangladesh and aligns its AML and KYC practices with:

  • Applicable laws and regulations of Bangladesh
  • General AML principles recognized internationally

Foundect is not a bank or financial institution but applies reasonable controls consistent with platform-based investment facilitation.

3. Scope of This Policy

This Policy applies to:

  • Individual Investors
  • Business Accounts
  • All users engaging in investment-related activities on Foundect

Participation on the Platform is conditional upon compliance with this Policy.

4. KYC Requirements — Individual Investors

To open and use an Investor account, users must provide:

  • Full legal name
  • Valid government-issued identification (NID or Passport)
  • Selfie or biometric confirmation where required
  • Date of birth
  • Contact information
  • Nominee information

Failure to provide accurate or complete information may result in rejection or suspension.

5. KYC Requirements — Business Accounts

Business Accounts must provide:

  • Registered business name
  • Business contact details
  • Trade license or equivalent registration document
  • Identification documents of authorized representative(s)
  • Ownership and management information (for disclosure purposes only)

Foundect reserves the right to request additional documents when necessary.

6. Verification & Review Process

  • All submitted information is subject to manual and/or automated review
  • Verification may take up to 24 hours or longer
  • Approval is not guaranteed
  • Foundect may reject or suspend accounts without obligation to provide justification

Providing false, misleading, or forged documents is strictly prohibited.

7. Ongoing Monitoring

Foundect may:

  • Monitor transactions for suspicious activity
  • Review accounts periodically
  • Request updated documentation
  • Flag or restrict accounts when irregular behavior is detected

Foundect does not guarantee continuous monitoring after funds are transferred directly between users.

8. Suspicious Activity & Reporting

Suspicious activities may include but are not limited to:

  • Unusual transaction patterns
  • False payment confirmations
  • Attempts to bypass platform safeguards
  • Inconsistent identity information

Foundect reserves the right to:

  • Restrict account activity
  • Suspend or terminate accounts
  • Report activities to relevant authorities when legally required

9. Data Handling & Privacy

  • User data collected for AML/KYC purposes is handled securely
  • Data is processed in accordance with Foundect's Privacy Policy
  • Access to sensitive data is restricted to authorized personnel

Users consent to verification checks by using the Platform.

10. Record Retention

Foundect may retain AML/KYC records for:

  • Legal compliance
  • Platform security
  • Dispute resolution

Retention periods are determined in accordance with applicable laws and internal policies.

11. Limitations of Responsibility

Foundect:

  • Does not guarantee detection of all financial crimes
  • Is not liable for losses resulting from fraudulent user behavior
  • Does not replace law enforcement or regulatory bodies

Users remain responsible for lawful conduct.

12. Refusal, Suspension, & Termination

Foundect may:

  • Refuse account approval
  • Suspend or restrict access
  • Terminate accounts

At its sole discretion, for reasons including but not limited to:

  • Non-compliance with this Policy
  • Legal or regulatory concerns
  • Platform integrity protection

No compensation shall be provided for terminated accounts.

13. Amendments

Foundect may update this Policy at any time.

Continued use of the Platform constitutes acceptance of the updated Policy.

14. Governing Law & Jurisdiction

This Policy is governed by the laws of Bangladesh.

Any disputes shall be subject to the exclusive jurisdiction of the courts of Bangladesh.

15. Contact Information

For questions related to this Policy:

Email: support@foundect.com

(Support page)

Final Note

AML and KYC compliance is a shared responsibility. Users are expected to act honestly, transparently, and lawfully.

END OF AML & KYC POLICY