Compliance, AML & KYC
Our approach to KYC, AML screening, sanctions checks, and the regulatory standards we follow. Last updated July 2026.
Regulatory posture
Cryptrum Pay operates as a technology provider. We do not take custody of funds and we do not act as a money services business in our own right. Merchants who use the gateway to accept payments are responsible for their own licensing in their own jurisdictions.
KYC for merchants
Every merchant must complete identity verification before lifting transaction limits. We collect:
- Beneficial owner: government-issued ID + selfie (or video) verification
- Business registration: certificate of incorporation, tax ID
- Proof of address: utility bill or bank statement under 90 days old
- Source of funds declaration for accounts expected to process >$100K/month
We use a third-party verification partner whose privacy practices match ours. Documents are encrypted at rest and retained for 5 years as required by AML regulations.
AML screening
- Sanctions screening against OFAC SDN, EU consolidated, UK HMT, UN lists at signup and continuously
- PEP (politically exposed person) screening on beneficial owners
- Continuous monitoring against new sanctions list additions
- Per-merchant velocity and pattern checks; flagged accounts trigger manual review
Travel rule (FATF Recommendation 16)
For jurisdictions where the Travel Rule applies, we forward originator/beneficiary information for VASP-to-VASP transfers using the IVMS 101 schema. Where merchants pay out to identified counterparties we collect the additional data the rule requires.
Prohibited use
The service may not be used for activity that violates our Acceptable Use Policy or any of:
- Sanctioned jurisdictions or persons
- Money laundering, terrorism financing, or evasion of capital controls
- Sale of regulated goods without proper licensing
- Activities prohibited in the jurisdiction of operation
See the full list in our Acceptable Use Policy.
Reporting suspicious activity
We file SARs/STRs where the operator's jurisdiction requires. We will respond to properly-formed law-enforcement requests; we contest overbroad requests and notify the merchant where legally permitted.
Contact
AML/KYC questions: [email protected]
