AML Policy

AML/KYC Policy

Faneventticket.com Anti-Money Laundering and Know Your Customer Policy (hereinafter - the "AML/KYC Policy") is designated to prevent and mitigate possible risks of Fan Event Ticket being involved in any kind of illegal activity. This comprehensive policy establishes clear guidelines for user verification, transaction monitoring, and regulatory compliance to ensure platform integrity. Our commitment to security extends to all platform interactions, ticket sales, and financial transactions conducted through our service.

Both international and local regulations require Fan Event Ticket to implement effective internal procedures and mechanisms to prevent money laundering, terrorist financing, drug and human trafficking, proliferation of weapons of mass destruction, corruption and bribery and to take action in case of any form of suspicious activity from its users. We adhere to these regulations not only as legal obligations but as fundamental ethical principles guiding our business operations. Our compliance framework is regularly updated to reflect evolving global standards and regulatory requirements in the event ticketing industry.

AML/KYC Policy covers the following matters:

• Verification procedures and identity confirmation protocols.
• Compliance Officer roles, responsibilities, and authority.
• Monitoring Transactions and suspicious activity detection systems.
• Risk Assessment methodologies and implementation strategies.
• Regulatory reporting requirements and procedures.

One of the international standards for preventing illegal activity is customer due diligence ("CDD"). According to CDD, Fan Event Ticket establishes its own verification procedures within the standards of anti-money laundering and "Know Your Customer" frameworks. These procedures are designed to be thorough yet minimally intrusive to legitimate users, balancing security requirements with customer experience considerations. Our verification systems employ advanced technologies to streamline the process while maintaining robust security standards.

Customer Identity Check

Fan Event Ticket's identity verification procedure requires the User to provide Fan Event Ticket with reliable, independent source documents, data or information (e.g., national ID, international passport, bank statement, utility bill). For such purposes Fan Event Ticket reserves the right to collect User's identification information for the AML/KYC Policy purposes. This information is processed securely and in compliance with applicable data protection regulations to safeguard user privacy while fulfilling our verification obligations.

Fan Event Ticket will take steps to confirm the authenticity of documents and information provided by the Users. All legal methods for double-checking identification information will be used and Fan Event Ticket reserves the right to investigate certain Users who have been determined to be risky or suspicious. Our verification systems utilize multiple validation methods, including document authenticity checks, biometric verification where applicable, and cross-referencing with trusted databases to ensure comprehensive verification.

Fan Event Ticket reserves the right to verify User's identity in an on-going basis, especially when their identification information has been changed or their activity seemed to be suspicious (unusual for the particular User). In addition, Fan Event Ticket reserves the right to request up-to-date documents from the Users, even though they have passed identity verification in the past. This continuous verification approach helps maintain platform security and adapt to evolving risk profiles of individual users throughout their relationship with our service.

User's identification information will be collected, stored, shared and protected strictly in accordance with the Fan Event Ticket's Privacy Policy and related regulations. We implement industry-standard encryption, access controls, and security protocols to protect all personal data collected during the verification process. Our systems are regularly audited and updated to maintain compliance with evolving data protection standards and best practices.

Once the User's identity has been verified, Fan Event Ticket is able to remove itself from potential legal liability in a situation where its Services are used to conduct illegal activity. This verification also enables us to provide enhanced services and security features to verified users, creating a more secure environment for all legitimate ticket transactions on our platform.

Card verification

The Users who are intended to use payment cards in connection with the Fan Event Ticket's Services have to pass card verification in accordance with instructions available on the Fan Event Ticket's Site. This verification process includes standard industry protocols such as Address Verification Service (AVS), Card Verification Value (CVV) validation, and 3D Secure authentication where applicable. These measures help prevent fraudulent transactions while protecting both buyers and sellers on our platform.

Compliance Officer

The Compliance Officer is the person, duly authorized by Fan Event Ticket, whose duty is to ensure the effective implementation and enforcement of the AML/KYC Policy. It is the Compliance Officer's responsibility to supervise all aspects of Fan Event Ticket's anti-money laundering and counter-terrorist financing, including but not limited to:

• Collecting Users' identification information and maintaining secure verification databases.
• Establishing and updating internal policies and procedures for the completion, review, submission and retention of all reports and records required under the applicable laws and regulations.
• Monitoring transactions and investigating any significant deviations from normal activity through both automated systems and manual reviews.
• Implementing a records management system for appropriate storage and retrieval of documents, files, forms and logs with proper security controls and retention policies.
• Updating risk assessment regularly based on emerging threats, regulatory changes, and platform usage patterns.
• Providing law enforcement with information as required under the applicable laws and regulations while ensuring proper legal procedures are followed.
• Training staff on AML/KYC procedures, suspicious activity recognition, and compliance requirements.

The Compliance Officer is entitled to interact with law enforcement, which are involved in prevention of money laundering, terrorist financing and other illegal activity. They serve as the primary point of contact for regulatory inquiries and have the authority to implement immediate measures to address compliance concerns, including temporary suspension of suspicious accounts pending investigation.

Verifying Transactions

The Users are known not only by verifying their identity (who they are) but, more importantly, by analyzing their transactional patterns (what they do). Therefore, Fan Event Ticket relies on data analysis as a risk-assessment and suspicion detection tool. Fan Event Ticket performs a variety of compliance-related tasks, including capturing data, filtering, record-keeping, investigation management, and reporting. System functionalities include:

Daily check of Users against recognized "black lists" (e.g. OFAC), aggregating transfers by multiple data points, placing Users on watch and service denial lists, opening cases for investigation where needed, sending internal communications and filling out statutory reports, if applicable. Our monitoring systems employ advanced algorithms to detect unusual patterns that may indicate suspicious activity, such as rapid succession purchases, unusual ticket volumes, or transactions that deviate significantly from established user patterns.

Case and document management systems maintain comprehensive records of all verification activities, investigations, and regulatory reports. These systems ensure proper documentation of compliance efforts and facilitate efficient response to regulatory inquiries or audit requirements.

With regard to the AML/KYC Policy, Fan Event Ticket will monitor all transactions and it reserves the right to:

• Ensure that transactions of suspicious nature are reported to the proper law enforcement through the Compliance Officer in accordance with applicable reporting timeframes and requirements;
• Request the User to provide any additional information and documents in case of suspicious transactions, including source of funds verification when appropriate;
• Suspend or terminate User's Account when Fan Event Ticket has reasonably suspicion that such User engaged in illegal activity, with clear internal protocols for account suspension decisions and appeals processes;
• Implement additional verification measures for high-value transactions or accounts showing unusual activity patterns;
• Cooperate with financial institutions and payment processors to coordinate anti-fraud and anti-money laundering efforts.

The above list is not exhaustive and the Compliance Officer will monitor Users' transactions on a day-to-day basis in order to define whether such transactions are to be reported and treated as suspicious or are to be treated as bona fide. Our monitoring systems are continuously refined based on emerging threat patterns and regulatory guidance to maintain effectiveness.

Risk Assessment

Fan Event Ticket, in line with the international requirements, has adopted a risk-based approach to combating money laundering and terrorist financing. By adopting a risk-based approach, Fan Event Ticket is able to ensure that measures to prevent or mitigate money laundering and terrorist financing are commensurate to the identified risks. This will allow resources to be allocated in the most efficient ways. The principle is that resources should be directed in accordance with priorities so that the greatest risks receive the highest attention.

Our risk assessment methodology considers multiple factors including but not limited to: transaction values, user location, frequency of transactions, types of events, payment methods used, and correlation with known risk patterns. This multi-dimensional analysis allows for more precise risk scoring and appropriate application of verification measures based on actual risk levels rather than applying the same high-friction processes to all users regardless of risk profile.

Fan Event Ticket conducts periodic reviews of our risk assessment models to ensure they remain effective against evolving threats and changing regulatory expectations. These reviews incorporate feedback from compliance operations, industry best practices, and regulatory guidance to continuously improve our risk management approach.