Introduction
Fastrove is committed to upholding the highest standards of integrity, transparency, and financial security across our fashion marketplace. This Anti-Money Laundering (AML) Policy outlines the measures we implement to prevent the platform from being used for money laundering, terrorist financing, fraud, or any other unlawful financial activity. The policy applies to all Fastrove users, including vendors, shoppers, partners, contractors, and employees, ensuring that every participant in our ecosystem contributes to a safe and compliant environment.

Purpose of the Policy
The purpose of this AML Policy is to: 

• Prevent Fastrove from being used to disguise the origins of illegal funds 

• Detect suspicious activities and transactions

• Protect shoppers, vendors, and the Fastrove ecosystem 

• Comply with applicable AML and Counter Terrorist Financing (CTF) regulations 

• Promote a safe and trustworthy marketplace for African fashion
  
  

Scope
This policy applies to: 

• All vendor accounts 

• All financial transactions conducted on Fastrove 

• All payouts, withdrawals, and refunds 

• All identity verification processes 

• All internal teams handling payments, compliance, or risk
  
  

Regulatory Compliance
Fastrove adheres to AML and CTF regulations in the jurisdictions where we operate, including but not limited to: 

• Know Your Customer (KYC) requirements 

• Customer Due Diligence (CDD) 

• Enhanced Due Diligence (EDD) for high risk users 

• Reporting obligations to relevant authorities 

• Record keeping requirements

Fastrove may update this policy as laws evolve.

Know Your Customer (KYC) Requirements
To maintain a secure marketplace, Fastrove verifies the identity of vendors and, where necessary, shoppers.

Vendor KYC Requirements
Vendors must provide: 

• Full legal name 

• Valid government issued ID 

• Business registration documents (where applicable) 

• Bank account details for payouts 

• Proof of address

Shopper Verification
Shoppers may be required to verify their identity if: 

• Their transaction volume is unusually high

• Their activity triggers risk alerts

• They request refunds or withdrawals that require additional checks
  
  

Customer Due Diligence (CDD)
Fastrove performs Customer Due Diligence to assess the legitimacy of users and their transactions. This process includes verifying identity documents, reviewing transaction patterns, monitoring account behaviour, and screening users against sanctions lists and watchlists. CDD helps ensure that all activity on the platform aligns with lawful and expected behaviour. 

Enhanced Due Diligence (EDD)
Enhanced Due Diligence is applied when a user or transaction is considered high risk. This may involve additional identity verification, requests for source of funds documentation, manual reviews of transactions, or temporary suspension of account activity. High risk indicators include unusually large transactions, multiple failed payment attempts, suspicious payment methods, mismatched identity information, or behaviour inconsistent with typical fashion marketplace activity.

Monitoring and Detection
Fastrove uses both automated and manual monitoring systems to detect suspicious activity. These systems identify unusual purchasing or selling patterns, rapid movement of funds, multiple accounts linked to the same identity, attempts to bypass platform rules, and suspicious refund or chargeback behaviour. All flagged activity is reviewed by the Fastrove Compliance Team to determine whether further action is required.

Reporting Suspicious Activity
Fastrove is legally obligated to report suspicious activity to the appropriate authorities. Reports may include suspicious transactions, fraudulent behaviour, attempts to conceal identity, potential terrorist financing, or the use of stolen payment methods. Users will not be notified when a report is filed, as required by law.

Account Freezing and Termination
Fastrove reserves the right to freeze funds, delay payouts, restrict account access, request additional documentation, or terminate accounts when necessary. These actions may occur if suspicious activity is detected, if users fail to provide required documentation, or if fraud or illegal activity is confirmed. These measures help protect the platform and its users from financial harm.

Record Keeping
Fastrove maintains secure records of user identity documents, transaction histories, compliance related communications, and suspicious activity reports. These records are stored safely and retained for the legally required duration to support regulatory compliance and internal investigations.

Employee Training
Fastrove provides training to relevant employees to ensure they understand AML and CTF regulations, can identify suspicious activity, follow proper reporting procedures, and maintain data privacy and confidentiality. This training ensures that our team is equipped to uphold the integrity of the platform.

User Responsibilities
All Fastrove users are responsible for providing accurate and truthful information, using the platform only for lawful purposes, cooperating with verification requests, and reporting any suspicious activity to Fastrove Support. Compliance from all users helps maintain a secure and trustworthy marketplace.

Policy Review
This AML Policy is reviewed regularly to ensure it remains aligned with evolving laws, industry standards, and Fastrove’s operational needs. Updates may be made as necessary to strengthen our compliance framework.

Contact Information
For questions or concerns regarding this AML Policy, users may contact the Fastrove Compliance Team at fastroveng@gmail.com. Our team is available to provide clarification and support regarding compliance matters.