Regulatory perimeter
Wam Money Ltd is licensed by the Central Bank of Trinidad and Tobago as an Electronic Money Issuer (EMI) and Payment Service Provider (PSP), and is admitted to the TTSEC Virtual Asset Service Provider (VASP) Regulatory Sandbox — a conditional, time-limited supervisory authorisation, not a full VASP licence or endorsement. Authorised crypto activities are limited to those listed in our Certificate of Acceptance. Wam does not provide custody, safekeeping, staking, lending, yield, or interest-bearing services — you self-custody your crypto.
Identity verification (KYC & KYB)
Consumer identity is verified through Veriff: live document capture, liveness check, biometric comparison. Business onboarding runs through SumSub with entity-type-specific flows (Sole Prop, Partnership, LLC, Corp, Non-profit, Co-op). Tiers unlock limits: Tier 1 basic details, Tier 2 enhanced due diligence for PEPs, Tier 3 full document and biometric.
Sanctions & PEP screening
Every onboarding runs a sanctions and PEP screen inside the verification pipeline. Matches block onboarding until reviewed by a human compliance officer. For PEP users we require a self-declaration step up-front and apply Tier 2 enhanced due diligence before funds move.
Address screening for crypto
Every crypto deposit address and every withdrawal destination runs through OFAC, Chainalysis, and TRM Labs before funds settle. Results are persisted in our address_screening table with a unique constraint on (address, chain_id). We never re-use a stale verdict, and every decision is auditable.
- Screened at deposit detection, not at credit
- Screened again at withdrawal, with counterparty metadata
- Travel Rule ready: counterparty info captured on all crypto transfers
Transaction monitoring
Velocity limits and tier-based caps on top-ups, withdrawals, and swaps. Outliers route into a human review queue. High-value treasury actions require dual-operator approval. Nothing large moves alone.
CBTT regulatory reporting
Automated weekly reporting to the Central Bank of Trinidad & Tobago covering transaction volumes by type, float reconciliation, fee income, and agent-level activity. Reports export to Excel and are signed off by our compliance officer before filing.
Regulated partners
Regulated US banking partners handle US money transmission and our EU path. Cybersource (PCI Level 1) runs card acquiring. Auth0 (SOC 2 Type II, ISO 27001) handles identity. Veriff, SumSub and Chainalysis each operate under their respective regulatory regimes. Wam is the layer that joins them cleanly, with the same records each of them would keep.
