Skip to main content

REGULATORY COMPLIANCE FRAMEWORK

Zoompass is acutely aware of the fact that it is operating in the most heavily regulated industry in the world. In addition, the disintermediating force of blockchain technology applications and rapid introduction of new innovative products in the market create new risks requiring new compliance standards. For Zoompass as a BaaS operator, the regulatory challenges of operating globally, with nation specific compliance rules can significantly affect the ability to scale our business. An expanded service portfolio and higher visibility also invites greater scrutiny from regulators. The Regulatory approach that we are taking keeps in focus this dynamic evolution of the regulatory landscape

The integrity and credibility of Zoompass depends on establishing trust with regulatory authorities. users, investors, and strategic partners.

Embedded Compliance Safeguards

The first part of Zoompass robust compliance framework involves integrating kyc and other regulatory requirements to our BaaS applications.

Zoompass’s automated compliance engine and integration with third-party AML-KYC service providers provides us the ability to easily customize compliance metrics, controls, and procedures.

Compliance with applicable laws and regulations.

Zoompass operating subsidiaries deploy fintech applications designed to ensure compliance with applicable nation-specific anti-money laundering and counter-terrorism rules.

Blockgration Global Corp

All applicable Canadian anti-money laundering laws and regulations, including but not limited to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) and accompanying regulations (collectively referred to in this document as “AML Legislation”). Blockgration also accepts, as its public duty the obligation to report to the Financial Transaction Analysis Centre (FINTRAC).

Zuum Global Services

All applicable Canadian anti-money laundering laws and regulations, including but not limited to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) and accompanying regulations (collectively referred to in this document as “AML Legislation”). Zuum Global Services also accepts, as its public duty the obligation to report to the Financial Transaction Analysis Centre (FINTRAC).

Blockline Solutions

All business activities are conducted in compliance with The Prevention of Money Laundering Act, 2002 (PMLA), and the AML rules and regulations prescribed by regulators such as the Reserve Bank of India (RBI), the Securities and Exchange Board of India (SEBI) and Insurance Regulatory and Development Authority of India (IRDAI). Appropriate controls are taken into consideration to mitigate any associated risks.

Virtublock OU

Business activities are conducted in compliance with The Money Laundering and Terrorist Financing Prevention Act and International Sanctions Act. The Global Digital Exchange Platform in Estonia will operate with a portfolio of services allowed under its Virtual Currency Exchange License and eWallet license. 

Our exchange platform together with the wallet will offer users to:

Register after completion of KYC process conforming to regulatory requirements.

Deposit and withdraw funds with transaction limits, frequency and other requirements are configured and administered as defined in our compliance program.

Buy and Trade Crypto – with the option to choose from multiple crypto pairs.

Asset Securitization Platform(s) are deployed in coordination with our clients to ensure regulatory compliance issues are properly addressed.