As a payment processor, StraitsX is responsible and accountable for preventing monetary activities that could potentially further criminal agendas. Two concerns that we take seriously are: anti-money laundering and counter-terrorist financing (AML-CTF).
In addition, we are committed to safeguarding our users’ privacy and funds. These obligations require us to monitor two main things: (1) who transacts on our platform; and (2) the nature of the transactions taking place on our platform.
As part of ensuring that the nature of transactions taking place on our platform is legitimate, we implemented the following policy:
- Users must only use their own bank account to transfer in and transfer out from their StraitsX account; and
- Users cannot fund their personal account from a corporate account (even if they are the sole shareholder of the company)
We must verify your ownership of their bank accounts by validating your bank account name by the time you are linking your bank account.
If your bank account verification failed, you can resubmit your bank account verification by sending us a file (i.e: jpeg or pdf) of your Bank Statement or the first page of your bank savings book. See more here