The Privacy takes strict measures to prevent and combat illegal practices as like fraud and money laundry in its platform, granting a safe environment for its community.
What is Money Laundry?
Money laundry is the illegal process to cover the real source of assets obtained through illicit acts, making it seems as legit. This process involves the conversion of “dirty money”, derived from illegal activities, to funds apparently “legits/clean/legal”, through legal transactions as like the purchases for goods and services.
The Privacy does not stand money laundry and has implemented different and specific tools and procedures to detect and prevent social media inappropriate attempts to conclude the money laundry process.
What is Fraud?
Fraud is the act to obtain money or other goods through bad faith. As the money laundry, Privacy also adopts strict policies to detect and prevent fraudulent practices on the social media.
How Privacy Handles to the Money Laundry and Fraud Risk on the Platform?
The Privacy is committed to maintain the safety of its community. To accomplish that the company has a specialized team to identify and prevent the social media uses for money laundry and fraud practices. That team uses as the monitoring manual as the international technologies to identify and investigate behaviors and transactions that seem suspicious.
The Risk team is constantly aware to “red flags” that may indicate illegal activities. In case that had been verified a violation of Privacy’s guidelines or to the applicable law, the user may be removed or deleted from the social media. Besides, Privacy reports illegal practices to the authorities when it is necessary.
Does the Privacy prepare its Team to Frauds and Money Laundry Considerations?
Yes. Privacy’s security and risk ream is continuously trained in the best practices of the sector, ensuring that is always updated to identify and prevent frauds and money laundry in an effective way.
What Privacy Does When Suspect of Fraud or Money Laundry
When Privacy detects or receives a report of suspicious activity, the company will conduct a thorough investigation of the problem and take appropriate action. The profile or transaction may be suspended and/or specific content may be removed pending the outcome of the investigation. Privacy also has a policy of active co-operation with the authorities where there is a need or request for this.
Is Privacy in Compliance to the Applicable Law?
Yes. Privacy is in totally compliance to all national and international regulations. Privacy follows strictly the legal obligations, especially, when the company identifies a user or transaction that is in a sanction list.
Does Privacy Cooperate with the Authorities to Prevent Frauds and Money Laundry?
Yes. When Privacy detects illegal activities as like frauds or money laundry, the company always cooperates with the competent authorities. Privacy quickly responds to all governmental and judicial requests related to illicit accounts and transactions, to reinforcing the company’s commitment to the social media security and the integrity of Users community.
