GovAxis maintains this Anti-Money-Laundering ("AML") Policy as part of its commitment to operating transparently and in compliance with applicable law. This policy describes our framework for detecting, preventing, and reporting money laundering, terrorist financing, and other forms of financial crime.
This policy applies to all GovAxis personnel, contractors, and service providers involved in the delivery of our company formation and compliance services. It also governs our obligations with respect to customers seeking to form U.S. business entities through our platform.
Money laundering is the process of making illegally obtained funds appear legitimate. While GovAxis does not hold customer funds or operate as a financial institution, our services may be sought by bad actors seeking to establish corporate structures to facilitate illicit activity. This policy is designed to detect and prevent such misuse.
GovAxis operates in accordance with applicable U.S. federal and state law, including:
Before providing services, GovAxis collects and verifies the following information for each customer and any beneficial owner holding 25% or more of the entity being formed:
We verify identity documents using a combination of manual review and, where applicable, automated verification tools. We reserve the right to request additional documentation to satisfy our CDD obligations.
Certain customers and transactions may trigger Enhanced Due Diligence, including:
EDD may include collection of additional documents, source of wealth verification, senior management approval, and enhanced ongoing monitoring. GovAxis reserves the right to decline to provide services where EDD requirements cannot be satisfied.
All customers are screened against applicable sanctions lists prior to and during the provision of services, including:
GovAxis will not provide services to any individual or entity that appears on any applicable sanctions list. If a match is identified, we will block the transaction and, where required, report to the relevant authorities. Customers from OFAC-sanctioned countries (currently including, but not limited to, Cuba, Iran, North Korea, Russia, Syria, and the Crimea region) are ineligible for our services.
GovAxis personnel are trained to identify and escalate suspicious activity indicators, including:
Where suspicious activity is identified, GovAxis will review the matter, which may result in service refusal, account suspension, or, where legally required, reporting to relevant authorities. GovAxis complies with all applicable reporting obligations.
GovAxis retains all CDD and EDD records, including copies of identity documents and verification results, for a minimum of five (5) years from the date of collection or the end of the customer relationship, whichever is later, in accordance with BSA record-keeping requirements. Records are stored securely and access is restricted to authorized personnel on a need-to-know basis.
All GovAxis personnel with AML responsibilities receive training on: applicable laws and regulations; identification of suspicious activity; CDD and EDD procedures; record-keeping requirements; and reporting obligations. Training is conducted upon onboarding and updated at least annually.
GovAxis does not accept cash payments under any circumstances. All payments must be made through approved electronic means via Stripe (credit card, debit card, or ACH where available). Any attempt to pay with cash, money orders, or anonymous payment instruments will result in immediate refusal of services.
Questions about this policy? Email legal@govaxis.org.