BoostX is committed to maintaining the integrity of our platform and ensuring the safety of our users. We have implemented a range of measures to prevent, detect, and address potential money laundering and fraud activities. These efforts are crucial to protecting our community and complying with legal obligations under Bulgarian law.
Money laundering is the unlawful process of concealing the origins of money obtained from criminal activities by making it appear as though it has come from a legitimate source. This process typically involves using legitimate transactions, such as purchasing goods or services, to disguise the illicit nature of the funds. At BoostX, we do not permit or tolerate any form of money laundering. We have established various tools, policies, and procedures specifically designed to detect and prevent any attempts to use our platform for money laundering purposes.
Fraud is the unlawful act of obtaining money or something of value by deceiving or tricking someone. This could involve various methods of misrepresentation, manipulation, or deceit. BoostX strictly prohibits any form of fraud on our platform. We have deployed a range of tools, policies, and procedures to detect and prevent fraudulent activities.
To protect our community and ensure a secure platform, BoostX has a dedicated team specializing in detecting and preventing money laundering and fraud. This team utilizes a combination of human judgment, proprietary technology, and third-party tools to identify and investigate suspicious behaviors or transactions. Our employees are trained to look for "red flags" that may indicate potential money laundering or fraud, including but not limited to:
No. Thanks to our robust identity verification process, transaction restrictions (including minimum and maximum pricing), daily limits, and other preventive and detection methods, instances of money laundering or fraud on BoostX are very rare. If we determine that an individual has violated our policies, procedures, or the law, we can identify and remove that person from our platform. We may also report any illegal activities to the appropriate law enforcement agencies.
Yes. Our team members responsible for safeguarding our platform are continually trained on industry best practices to recognize and address fraud and money laundering activities effectively.
When suspicious activity is detected or reported, BoostX promptly investigates the issue and takes all appropriate actions. This may include suspending the relevant account or transaction and/or removing specific content until the investigation is completed. We also collaborate with law enforcement as necessary or required.
BoostX complies with all relevant national and international sanctions regimes, including those under Bulgarian law. We utilize third-party suppliers to check relevant databases, such as the Office of Foreign Assets Control's (OFAC) “Specifically Designated Nationals and Blocked Persons” list and the UK Office of Financial Sanctions Implementation (OFSI). If we determine that a potential user, or someone transacting on behalf of the user, is on a sanctioned list or is engaging in transactions with a person or entity in a sanctioned country or region, we comply with all legal obligations, including potentially blocking the transaction or user.
Yes. BoostX is committed to cooperating fully with law enforcement agencies to prevent fraud and money laundering. When we suspect any illegal activity on our platform, we promptly report it to law enforcement and respond to all government and law enforcement requests regarding such activities.
If you have any questions or concerns regarding this policy, please contact us at:
Email: creator@boostx.software
