Anti-Money Laundering Policy
Last updated: March 2026
WasabiDesk is committed to preventing money laundering, terrorist financing, and other financial crimes. This policy outlines our approach to Anti-Money Laundering (AML) compliance.
Our Commitment
WasabiDesk maintains a zero-tolerance policy toward money laundering and terrorist financing. We are committed to complying with all applicable AML laws and regulations in every jurisdiction where we operate. Our compliance program is designed to detect, prevent, and report suspicious activities while ensuring our platform remains safe for legitimate users.
Regulatory Framework
Our AML program is built in accordance with international standards set by the Financial Action Task Force (FATF), as well as the laws and regulations of Singapore (our primary jurisdiction), including the Corruption, Drug Trafficking and Other Serious Crimes Act and the Terrorism (Suppression of Financing) Act. We also comply with applicable regulations in all markets where we provide services.
Know Your Customer (KYC)
All WasabiDesk users must complete our identity verification process before accessing our services. This includes providing government-issued identification, proof of address, and in some cases, source of funds documentation. We use a combination of automated verification technology and manual review to ensure the accuracy and completeness of customer information. Enhanced due diligence is applied to higher-risk customers and transactions.
Transaction Monitoring
We employ sophisticated transaction monitoring systems that analyze all platform activity in real-time. Our systems flag transactions that exhibit unusual patterns, exceed certain thresholds, or match known typologies of money laundering and terrorist financing. Flagged transactions are reviewed by our compliance team, and appropriate action is taken, which may include requesting additional information, temporarily suspending transactions, or filing regulatory reports.
Suspicious Activity Reporting
When we identify potentially suspicious activity, we file Suspicious Transaction Reports (STRs) with the relevant Financial Intelligence Unit (FIU) as required by law. WasabiDesk employees are prohibited from tipping off customers about the existence of any such reports. We maintain detailed records of all reports filed and cooperate fully with law enforcement and regulatory inquiries.
Employee Training
All WasabiDesk employees receive comprehensive AML training upon joining the company and undergo regular refresher training at least annually. Training covers the identification of suspicious activities, our internal reporting procedures, regulatory obligations, and the consequences of non-compliance. Specialized training is provided to employees in customer-facing and compliance roles.
Risk Assessment
We conduct regular enterprise-wide risk assessments to identify and evaluate money laundering and terrorist financing risks. These assessments consider factors such as customer profiles, geographic exposure, product features, and delivery channels. The results inform our risk mitigation strategies and ensure our controls remain proportionate and effective.
Contact Us
If you have questions about our AML policy or wish to report suspicious activity, please contact our compliance team at compliance@WasabiDesk.com.