Anti-money laundering

We design our products and operations to meet applicable AML/CTF, sanctions, and financial crime laws in the regions where we operate. We work with licensed banking and payment partners who maintain their own compliance programmes.

We do not knowingly provide Services to persons or entities engaged in illegal activity, or to jurisdictions, individuals, or organisations subject to comprehensive sanctions where we are prohibited from doing business.

Dropfunds maintains an AML/CTF programme overseen by senior management. Responsibilities include policy approval, resource allocation, and review of significant compliance matters.

We appoint personnel responsible for day-to-day AML/CTF operations, including customer verification, transaction monitoring, investigations, and regulatory reporting where required.

Our programme is reviewed periodically and updated to reflect changes in regulation, risk, products, and geographic footprint.

We assess money laundering and terrorist financing risk across customers, products, corridors, payout methods, and delivery channels. Higher-risk relationships and activities receive enhanced controls.

Risk factors may include customer type, country of residence or nationality, source of funds, transaction patterns, politically exposed person (“PEP”) status, and adverse media or sanctions matches.

Before you can use certain features—including sending money, receiving funds, or issuing cards—we collect information to verify your identity and, where applicable, your business.

You may be asked to provide your legal name, date of birth, address, government-issued identification, proof of address, and information about the nature of your business or source of funds. We may use third-party verification providers and databases.

You must provide accurate, complete information and notify us of material changes. We may re-verify your identity at any time, including before large or unusual transactions.

• Individual customers: government ID, selfie or liveness checks where required, and contact details
• Business customers: entity registration, beneficial owners, directors, and nature of business
• Ongoing monitoring: periodic refresh of KYC data based on risk and regulatory requirements

When risk is elevated, we apply enhanced due diligence. This may include additional documentation, senior management approval, more frequent review, or restrictions on products and limits.

Enhanced review may apply to PEPs and their close associates, high-volume senders, complex corporate structures, activity in higher-risk jurisdictions, or transactions that do not match the customer profile.

We monitor account activity and payment flows using automated systems and manual review to identify unusual, suspicious, or prohibited behaviour.

Examples of activity that may trigger review include rapid in-and-out movements, structuring to avoid reporting thresholds, mismatches between stated purpose and transaction patterns, use of multiple identities or devices, and recipient lists inconsistent with the customer profile.

We may delay, block, cancel, or reverse transactions; freeze balances; or suspend accounts while we investigate. We are not obliged to disclose the existence or status of an internal review.

We screen customers and transactions against applicable sanctions lists and other restricted-party databases, including lists maintained by the United Nations, United States, European Union, United Kingdom, Canada, and other relevant authorities.

If a match occurs or we cannot complete screening, we may refuse onboarding, decline a transaction, block funds, or close an account. You must not use the Services to send or receive funds on behalf of sanctioned persons or entities.

In addition to unlawful conduct described in our Terms of Use, we prohibit use of the Services for activities that present unacceptable financial crime risk, including but not limited to:

• Money laundering, terrorist financing, or proliferation financing
• Fraud, scams, or proceeds of crime
• Unlicensed money transmission or unregistered remittance where licensing is required
• Trade in illegal goods or services, including child exploitation, human trafficking, or illegal weapons
• Circumvention of sanctions, export controls, or our compliance controls
• Anonymous or pseudonymous use where identification is required by law or policy

Where required by law, we file reports with financial intelligence units, regulators, or law enforcement—for example suspicious transaction reports, large cash transaction reports, or other regulatory filings. We may provide information without notifying you when prohibited from doing so.

We cooperate with lawful requests from competent authorities and may restrict or close accounts to comply with court orders, regulatory directions, or partner requirements.

We retain customer identification data, transaction records, correspondence, and investigation files for periods required by applicable law and our internal policies, which may extend beyond account closure.

Records may be stored in secure systems operated by Dropfunds or its service providers, subject to access controls and data protection requirements.

Relevant employees and contractors receive AML/CTF training appropriate to their role, including recognition of red flags, escalation procedures, and confidentiality obligations.

You agree to use the Services only for lawful purposes, provide truthful information, and respond promptly to our compliance requests. You must not attempt to disguise the origin, destination, or purpose of funds.

If you become aware of suspicious activity involving your account, contact us immediately at support@dropfunds.io.

Dropfunds is a financial technology company, not a bank. Canadian money services are offered by Dropfunds Finance Inc., Vancouver BC, regulated by FINTRAC as a money services business where applicable. United States services are offered by Dropfunds Inc., Middletown DE, registered with FinCEN as a money services business where applicable.

Additional licences, registrations, and partner requirements may apply depending on your location and the Services you use. Nothing on this page constitutes legal advice.

For questions about this AML/CTF overview or to report concerns, email support@dropfunds.io with the subject line “AML enquiry”. For law enforcement or regulatory requests, include sufficient detail for us to route your message appropriately.