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AML/KYC Policy for SQRBIT, Inc

SQRBIT, Inc. upholds a comprehensive Anti-Money Laundering (AML) and Know Your Customer (KYC) policy to mitigate the risks associated with unlawful activities. Complying with global and local regulations is paramount, necessitating the establishment of robust internal procedures to counteract money laundering, terrorist financing, drug and human trafficking, proliferation of weapons of mass destruction, corruption, and bribery. Swift action is taken to address any suspicious activities involving our Users.

SQRBIT AML/KYC Verification Procedures:

Identity Verification: Users are required to furnish credible, independent documents or information (e.g., national ID, passport, bank statement, utility bill) for identity verification. SQRBIT reserves the right to collect and authenticate User identification details to ensure compliance with AML/KYC policies.

Compliance & Transaction Monitoring:

SQRBIT employs data analysis to assess risks and identify suspicious activities. Our compliance efforts encompass data capture, filtration, record-keeping, investigation management, and reporting. System functionalities include collecting User identification information, updating internal policies for regulatory adherence, monitoring transactions, implementing a records management system, regularly updating risk assessments, and providing necessary information to law enforcement agencies. Daily screenings against recognized blacklists (e.g., OFAC) are conducted, and robust case and document management systems are in place.

SQRBIT retains the right to:

  • Report suspicious transactions to law enforcement authorities.
  • Request additional information and documents from Users.
  • Suspend or terminate User accounts in cases of suspected illegal activity.

Risk Assessment:

SQRBIT adopts a risk-based approach to combat money laundering and terrorist financing, ensuring that preventive measures correspond to identified risks and facilitating efficient resource allocation. Priority is accorded to addressing the highest risks.

This policy underscores SQRBIT’s commitment to regulatory compliance and safeguarding against illicit activities.

About Us

SQRBIT™  gets its name from ‘Square Feet’ and ‘Bitcoin’ (‘Bit’).  ‘Tokenizing Every Square Feet with SQRBIT™!,’ reflects our goal of using blockchain to make real estate investing accessible to everyone.

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DISCLAIMER

This website (the “Site”) is operated by SQRBIT, Inc., which is not a registered broker-dealer, investment advisor, or financial institution. SQRBIT™ does not provide investment advice, make recommendations, endorse any investment opportunities, or assist in raising capital through securities offerings.

SQRBIT™ operates solely as a software-as-a-service platform, enabling fractional ownership in a portfolio of properties owned and managed by SQRBIT™. Neither SQRBIT™, nor its officers, directors, agents, or employees, makes any warranty, express or implied, regarding the adequacy, accuracy, or completeness of any information on this Site or the use of such information. SQRBIT™ does not receive brokerage compensation in connection with the purchase or sale of real estate or securities.

SQRBIT follows SEC rules, using Regulation S for non-US investors and Regulation D, Rule 506(c), for accredited US investors, ensuring secure and compliant access worldwide.

The SQRB Utility Token is not classified as a security or financial instrument under the Markets in Financial Instruments Directive (MiFID II) of the European Parliament (2014/65/EU), the Securities Act of 1933 (US), or any other applicable securities or financial laws.

It is your sole responsibility to determine whether any investment, investment strategy, security, or related transaction aligns with your personal investment objectives, financial circumstances, and risk tolerance. SQRBIT™ recommends consulting with licensed legal professionals, tax advisors, and financial consultants for legal, tax, insurance, or investment advice.

SQRBIT™ does not guarantee the performance of any investment, the outcome of any investment strategy, or the return of capital on any investment opportunity featured on this Site. Investments involve risks, including but not limited to the potential loss of principal, market fluctuations, and liquidity constraints. You should carefully evaluate all risks and conduct your own due diligence before making any financial decisions.

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