Goated prohibits the use of its products and services for any form of illicit activity, including ML, TF and sanctions violations.
However, money laundering risks are minimal on Goated due to the decentralized nature of the platform and by the fact that withdrawals are only processed to the same user wallet used to deposit from. This is a conscious decision from the Goated management team and prevents risks of the platform being used as a cryptocurrency mixer or a platform for elicit activity such as money laundering.
Goated also applies appropriate know-your-customer ("KYC") and ongoing monitoring measures to further the objectives of this AML Policy and as required by law.
This includes the following measures:
- Collecting Customer Information. Goated will collect details on customers to form a reasonable belief that it knows the identity of its customers. Goated may utilize a third-party service provider to help it to determine the validity of the information provided by customers.
- Excluding and Geoblocking Prohibited Jurisdictions. Goated does not offer services in jurisdictions where such services are not permitted to be offered ("Prohibited Jurisdictions"), and requires customers to ensure that they are not located in a Prohibited Jurisdiction.
Goated will not onboard / will block or suspend customers who:
- Do not provide the identification information requested by Goated;
- Are from restricted or prohibited jurisdictions;
In addition, Goated reserves the right to block and suspend players for any other reason at its sole discretion.
If a customer is identified as being on a sanctions list, or linked to ML or TF or other criminal activities, Goated will make an appropriate report to the FIU.