Frequently asked question
## Frequently Asked Questions (FAQ) - Deposits and Withdrawals **Why do I need to deposit funds before I can withdraw on your platform?** We require a deposit before withdrawals to comply with Anti-Money Laundering (AML) regulations. These regulations help prevent illegal activities like money laundering and fraud. **What is Anti-Money Laundering (AML)?** AML refers to practices that help financial institutions prevent money obtained from illegal activities (like drug sales or stolen goods) from entering the legitimate financial system. **How does requiring a deposit before withdrawal help with AML?** * **Source Identification:** When you deposit funds, we can identify the source (bank account, credit card, etc.) and verify it's legitimate. * **Closed Loop System:** It helps create a closed loop where money can only leave after it enters legitimately. This makes it harder to introduce dirty money and quickly withdraw it. **Isn't this just a way to keep my money?** Absolutely not! Your deposited funds remain yours and can be withdrawn anytime after following our verification procedures. **Do other platforms require deposits before withdrawals?** Yes, many reputable platforms follow similar practices to comply with AML regulations and ensure a safe environment for all users. **What if I'm still uncomfortable?** We understand your concerns. Here are some resources that might be helpful: * https://www.fincen.gov/anti-money-laundering-act-2020 If you have further questions or require additional information, don't hesitate to contact our customer support team. We're happy to help!
