AML (Anti-Money Laundering) and CTF (Counter-Terrorism Financing) are two terms commonly heard in the fields of finance and cryptocurrency. These are important measures that VNST adheres to in order to prevent money laundering activities and combat the financing of terrorism.

AML: Anti-Money Laundering

AML stands for "Anti-Money Laundering," which is a set of regulations and measures established to prevent money laundering activities. Money laundering is the process of disguising the illegal origin of money by introducing it into the legitimate financial system, making this illicit money appear legal and difficult to trace.

AML requires financial institutions, including cryptocurrency platforms like VNST, to strictly adhere to rules such as customer identity verification (KYC), transaction monitoring, and reporting suspicious activities to financial regulatory authorities. This helps prevent money laundering through financial platforms.

CTF: Counter-Terrorist Financing

CTF stands for Counter-Terrorist Financing, which aims to prevent terrorist organisations from receiving funds and financial support. The primary goal of CTF is to ensure that organisations or individuals cannot use any financial resources to carry out harmful activities, terrorism, or actions that affect the security and safety of the community.

Why Does VNST Follow AML and CTF Regulations?

VNST is committed to implementing AML and CTF measures to ensure the security and transparency of its cryptocurrency trading platform. Specifically:

Customer Identity Verification (KYC):

VNST requires users to provide authentic information and verify their identities before they can engage in transactions exceeding $1999. This helps prevent the use of fake or others' accounts for illegal transactions.

Reporting Suspicious Activities:

Based on AML and CTF, if VNST detects any suspicious activities related to illegality, VNST is committed to promptly reporting them to relevant financial regulatory authorities. Therefore, AML and CTF are not only legal requirements but also VNST's commitment to ensuring the sustainability and reliability of its cryptocurrency system.

We hope that these measures will help protect the user community and contribute to preventing illegal financial activities worldwide.

In Summary

AML and CTF play a crucial role in protecting the financial system from illegal activities and ensuring that cryptocurrency can thrive in a safe and transparent environment. VNST is committed to strict compliance with these rules and hopes that through their implementation, we can contribute to building a better financial future for everyone.