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Anti-Money Laundering Policy

1. Introduction

Secvolt (“Secvolt, Inc”) is committed to conducting its business with the highest ethical and legal standards and expects all employees and other individuals acting on its behalf to uphold this commitment. As such, the Company has adopted this Anti-Money Laundering Policy (“Policy”), which is applicable to all directors, officers, employees, agents, representatives, consultants, advisors, distributors, supplier contractors, or other third parties acting on behalf of the Company, even on a provisional and temporary basis (“Company Personnel”).

Secvolt will not conduct business with individuals or corporations whose conduct may give risk to suspicions of involvement with illegal activities. Secvolt will report any suspicions of money laundering or terrorist financing activity to the relevant authorities.

This Policy and the internal controls herein have been designed to avoid money laundering, including the laundering of illicit proceeds by the same person (self-laundering), and the use of money, goods, or gains of illicit provenance and, consequently, prevent potential criminal liability of the Company that could result from such violations/crimes.

Company Personnel who violate this Policy may be subject to disciplinary action, including dismissal from the Company, termination of agreements, and or any other associated legal and out-of-court actions, in accordance with the applicable law. The consequences for violating anti-money laundering laws can be severe for the Company, including significant fines, loss of operating licenses, limitations on engaging in certain business activities, imprisonment and reputational damage.

The Company Personnel must comply with the anti-money laundering laws of all countries where the Company carries out its activities.

2. Important Definitions

Money laundering is defined as engaging in acts to conceal or disguise the origins of illegally or criminally derived proceeds and assets so that they appear to have legitimate origins and are introduced into the legal financial and business as if they were lawful. If any Company Employee or Company Personnel suspects that there has been money laundering, that person must immediately report the suspected violation to Secvolt’s Compliance Team.

For the purposes of this policy, the following conducts shall be regarded as money laundering:

  • The conversion or transfer of property, knowing that such property is derived from criminal activity or from an act of participation in such activity, for the purpose of concealing or Page 2 of 9  Anti-Money Laundering Policy disguising the illicit origin of the property or of assisting any person who is involved in the commission of such an activity to evade the legal consequences of that person’s action.
  • The concealment or disguise of the true nature, source, location, disposition, movement, rights with respect to, or ownership of, property, knowing that such property is derived from criminal activity or from an act of participation in such activity.
  • The acquisition, possession or use of property, knowing, at the time of receipt, that such property was derived from criminal activity or from an act of participation in such activity.
  • Participation in, association to commit, attempts to commit and aiding, abetting, facilitating and counseling the commission of any of the above-mentioned actions.

Examples of illicit provenance are forgery of money, extortion, robbery, and drug crime, as well as fraud, corruption, organized crime, or terrorism, etc.

The money laundering process consists of three “stages”:

1) Placement: This involves the introduction of illegally obtained monies or other valuables into financial or non-financial institutions.

2) Layering: Layering occurs by conducting multiple, complex financial transactions that make it difficult to link the money to an illegal activity. These layers are designed to hamper the audit trail, disguise the origin of funds and provide anonymity.

Placing the laundered proceeds back into the economy in such a way that they re-enter the financial system as apparently legitimate funds.

3. Financing Terrorism

Company Personnel must immediately report any suspected or known terrorist financing to Secvolt’s Compliance Team. For the purposes of this Policy, “terrorist financing” means the provision or collection of funds, by any means, directly or indirectly, with the intention to be used or in the knowledge that they are to be used, in full or in part, in order to use indiscriminate violence as a means to create terror, fear, or to achieve a political, religious, or ideological aim.

4. Politically Exposed Person (PEP)

Transactions involving Politically Exposed Persons (“PEPs”) require enhanced due diligence. A PEP is an individual who is or has been entrusted with a prominent public function. Due to their position and influence, it is recognized that many PEPs are in positions that potentially can be abused for the purpose of committing money laundering offenses and related predicate offenses, including corruption and bribery, as well as conducting activity related to terrorist financing. The potential risks associated with PEPs justify the application of additional anti-money laundering/counter-terrorist financing preventive measures.

For the purposes of this Policy, Politically Exposed Persons (“PEP”) include, but are not limited to:

  • Heads of State, heads of government, ministers and deputy or assistant ministers.
  • Members of parliament or of similar legislative bodies.
  • Members of the governing bodies of political parties.
  • Members of supreme courts, of courts or of other high-level judicial bodies, the decisions of which are not subject to further appeal, except in exceptional circumstances.
  • Members of courts of auditors or of the boards of central banks.
  • Mayors and members of local administration, city and district assemblies.
  • Ambassadors, chargés d’affaires and high-ranking officers in the armed forces.
  • Members of the administrative, management or supervisory bodies of State-owned enterprises.
  • Directors, deputy directors and members of the board or equivalent function of an international organization. Not only the person that officiates a public function must be considered as PEP, also close family members must be included in the assessment. For the purpose of this Policy, family members mean:
  • The spouse, or a person considered to be equivalent to a spouse, of a politically exposed person.
  • The children and their spouses, or persons considered to be equivalent to a spouse, of a politically exposed person.
  • The parents of a politically exposed person. Also, persons known to be close associates to a PEP must be assessed with the same risk approach that includes:
  • Natural persons who are known to have joint beneficial ownership of legal entities or legal arrangements, or any other close business relations, with a Politically Exposed Person.
  • Natural persons who have sole beneficial ownership of a legal entity or legal arrangement which is known to have been set up for the de facto benefit of a Politically Exposed Person.
  • President, State Governors, mayors, and any kind of ancillary such as ministers, counselors and secretaries.
  • Officers or employees of national, federal, regional, local, or other, government bodies, departments, or agencies.
  • Officer or employees of state-owned or state-controlled entities, national or international.
  • Heads of state or anyone who exercises governmental authority.
  • Politicians, political party officials and candidates for political office.
  • Employees of regulatory agencies, public entities and mixed capital societies.
  • Officers and employees of public international organizations, as the United Nations, the World Bank and the International Monetary Fund.


5. Operational Principles

The careful examination of those operations where risk factors exist is important. For example, this could mean those in which third parties propose the use of cash or bearers’ checks, international transactions (in particular those with persons or entities residents in tax havens or high-risk territories, or different locations from those where the company operates), operations with persons holding positions of public responsibility or PEPs or transactions conducted through or related to intermediary companies.

The Company Personnel should not initiate, maintain or accept a new business relationship (customer, supplier, financier, etc.), provide services or take action with anyone known or suspected to be involved in money laundering or terrorist financing, even if in different businesses from the relationship being established with Secvolt.

Likewise, the Company Personnel should not deal with money, goods, or valuables that they know or suspect to be of the illicit origin or that are unaware of.

Secvolt is committed to fight against money laundering and the finance of terrorism. Therefore, the following due diligence principles should be followed, not only in situations where particular risk factors exist but as to all customers and third parties:

1) Identifying the Third Party

Company Personnel must conduct due diligence on customers and other third parties and document the findings. As part of the due diligence process, the following information (as applicable) should be collected: name, date of birth, address, National Identification Document (RG/RNE), passport number, CPF, Foreigner’s Identity Number or residence card if it is a physical person or company name, registered office, corporate purpose, Employer Identification Number, CNPJ, Tax Identity Code (CIF), and/or incorporation details.

As part of due diligence, the Company must verify that the customer or third party does not appear on any of the US Department of the Treasury Office of Foreign Assets Control’s sanctions list, including the Specially Designated Nationals and Blocked person lists, as well as if the client or the third party is responding or has already responded to the Administrative Sanctioning Process (PAS) by the Financial Activities Control Council (COAF) or is included in the National Register of Punished Companies (CNEP), of the Federal Government of Brazil. The Company should ask and search to confirm, whether the client or third party is or has been involved in an investigation of any kind involving corruption, money laundering, or acts of terrorism. The Company will not enter into a business relationship with a person or an entity that appears on one of these lists.

You must also take steps to understand the nature and purpose of the customer or third-party relationship and develop an appropriate risk profile based on the information learned. Based on the risk profile, the Company may actively maintain and update the customer or third-party information. The Company also will conduct ongoing monitoring to identify suspicious transactions and report those transactions where legally required.

2) Identifying the Ultimate Beneficial Owner (UBO)

Before the commencement of a commercial relationship, whether of a habitual nature, and prior to its execution, the Ultimate Beneficial Owner of any Third Parties who are formally involved must be identified. Company Personnel must document this analysis. Ultimate Beneficial Owner (UBO) means the person who directly or indirectly controls 25% or more of the equity or voting rights in the corresponding company or owns the company. In the event of the existence of a beneficial owner in the third party, that person must be identified through their name, nationality, National Identity Number (RG), passport, Foreigner’s Identity Number (RNE), or residence card. Listed companies are excluded from the obligation to identify the UBO.

If the UBO is a PEP, then the Company must conduct enhanced due diligence before entering into any contractual or commercial relationship with the entity.

3) Obligation to formally record commercial relationships in writing

Before the commencement of commercial relationships and prior to carrying out transactions with third parties (attention being paid to those of an international nature), the relationship must be formally recorded in a written agreement in accordance with Secvolt’s standards.

The provisions in a written agreement should include a commitment to comply with the Anti-Money Laundering laws, and Secvolt’s right to immediately terminate the contract in case of violation, subject to applicable law.

6. Red Flags for Money Laundering and Terrorist Financing

Red Flags for Money Laundering and Terrorist Financing include:

  • Unexplained spikes in account activity.
  • Large number of transactions, which could indicate layering.
  • The third-party tries to conceal its identity or the source of its funds.
  • The third party is an entity without a clear registered office and does not appear online.
  • The third party’s structure makes it difficult to recognize it.
  • The third-party funds for the transaction come from abroad when there is no apparent link between the country where the funds are sourced and the third party.
  • The third-party use multiple bank accounts or ones held abroad without any justification.
  • The third-party intends to make payments in cash or using bearer checks.
  • The third-party intends to pay a higher price for the services for no good reason.
  • The third party is based in a tax haven or a high-risk country.

7. Enhanced Due Diligence

If you identify a red flag or the transaction directly or indirectly involves a PEP, then enhanced due diligence must be conducted prior to entering into a business relationship with the customer or third party.

Enhanced due diligence involves the gathering of additional information to ensure that the person or entity is not participating in any improper or illicit conduct. This information should include, but is not limited to, the source of the funds, the source of the individual or company’s wealth, and the individual’s occupation or the type of business. The findings of enhanced due diligence should be documented.

If you are unsure whether enhanced due diligence is required in a particular situation or have any other questions regarding enhanced due diligence, they should contact Secvolt’s Compliance Team.

8. Insider Abuse

Company Personnel and other individuals that are closely affiliated with the Company should not also engage in actions that constitute money laundering or facilitate the commission of money laundering.

If you suspect that an employee or other Company affiliate has engaged in improper or illicit activity, or if you have any questions about insider abuse, you should contact Secvolt’s Compliance Team

Secvolt has zero tolerance for any form of retaliation, including intimidation, exclusion, humiliation, or other forms of harassing employees who, in good faith, report misconduct or express concern about a particular practice or decision.

The Whistleblower Channel is a safe way to receive suspicions or complaints, anonymity allowed. If you want to identify yourself, we guarantee secrecy and confidentiality. The Compliance Team when receiving reports on the Ethics Channel will maintain confidentiality and when sending cases to the Ethics Committee, even if the whistleblower has identified himself, his name and any information that may reveal his identity will be hidden.

9. Seeking Advice and Reporting Potential Violations

Company Personnel must immediately report to the Compliance Team the facts or circumstances that may be characterized as a violation of the law or the company’s internal policies. If you suspect a violation of this Policy or of any anti-money laundering laws, you must notify a Compliance Team member without delay and you should not comment on your suspicion or any indication or evidence that you became aware of with any third parties. If you are unsure of whether conduct constitutes money laundering or have any questions regarding the Policy or other Secvolt policy, or if you need help or wish to raise a concern, you may communicate that to our Compliance Team.

Secvolt has zero tolerance for any form of retaliation, including intimidation, exclusion, humiliation or other forms of harassing employees who, in good faith, report misconduct or express concern about a particular practice or decision.

10. Policy Review

Any material revision or abolition of this Anti-Corruption Policy requires a resolution by the Board of Directors of Secvolt.

11. History

Version            Updates

1.0                    Elaboration and Approval of Secvolt Anti-Money Laundering Policy

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Ashish Verma

Ashish Verma is the founder and CTO of Secvolt, with close to 10 years of experience in the IT industry. He has been the technical backbone of the company and has worked tirelessly to make the technical infrastructure robust. He is a passionate entrepreneur who generates solutions that have the potential to bring change.

In order to ease the client’s interaction with Secvolt, he has strived to develop the business’s technological foundation and establish a user-friendly platform. Ashish has also contributed substantially to smoothening the company’s administration and ensuring that there are no lacunae in the broad structure of the organization. 

Early Years

Coming from a middle-class family, he was aware of the problems that people faced while using technology. He sought to create something that was simple to use yet had a powerful effect. As he studied computer science, he became eager to offer a solution to real issues. He began his professional career at Amdocs, where he gained expertise in client management while catering to more than 20 clients. Later, he moved to Citicorp, where he had exposure to the investment industry. His time at Amdocs and Citi enabled him to produce high-standard, efficient, and scalable technical infrastructure.

He left corporate jobs for his startup because he was passionate about working on the concept of a smart city platform. He expanded the concept internationally and even collaborated with Global Dignity-Kuwait. Things didn’t work out for him the first time. He states, “My failures didn’t stop me from experimenting and trying new things.” He rose from the ashes like a phoenix and founded FewerClicks, an End to End IT solution company.

He worked on the creation of Solster Finance, a decentralized financial platform based on the Solana blockchain. He created this platform single-handedly which has helped the team raise a $1M investment and a revenue of more than $5M within 6 months of launching. 

He has previously worked on many blockchain technologies and cryptocurrency ventures, which include Decentralized Finance Applications (Defi), Decentralized Applications (Dapps), File Contracts (SIA, record-keeper), Smart Contracts (rust, solidity), and NFT Development. His experience and effective communication have helped many team members understand Secvolt effectively and the underlying technology it is powered by.

He possesses the ideal combination of strategic thinking and excellent business insight. He is responsible for formulating technical aspects of the company’s strategy to guarantee alignment with business objectives. With his drive to experiment with new technologies, he has helped Secvolt achieve a competitive edge. Being in charge, Ashish never holds back in encouraging the different departments to make profitable use of technology, helping to grow as an unstoppable team at Secvolt!

Hanif Shaikh

Hanif Shaikh is the founder and CMO of Secvolt, with over 8 years of experience in the industry. He plays a crucial role when it comes to the growth of Secvolt. Since the beginning, he has acted as a mentor for each and every employee of the company, and he makes an effort to be accessible to his staff anytime they need him. 

Hanif first entered the Blockchain and Crypto world in 2016, and nothing has stopped him since. He views blockchain as a transparent platform that provides authority and accountability back to the people. He consistently believes that “overcommunication is better than miscommunication.” He has lived by this motto with his staff, clients, and networks.

Early Years

Hailing from Gujrat, a state in India, he is following his dream to contribute to making this world a better place. In the process, he has struggled, made some mistakes, and learned lessons from those mistakes to achieve success in life. His entrepreneurial attitude dates back to his childhood when he learned from his father’s business and aspired to have it all. He came from a humble background and had ambitions to succeed in life.

He has developed two successful businesses from scratch, and in the process, he has inspired young people to start their own businesses. He was an integral part of the Quora Mumbai Meetups and helped it become a great success in a short period of time. Later, he began organizing meetups to raise awareness about blockchain, cryptocurrencies, and their applications. He also shared his knowledge of ICOs, highlighted reputable ICOs, and established a small cryptocurrency community on WhatsApp groups.

He chose to go on a Blockchain Tour in India in 2019 and met some fascinating people. Throughout his journey, he has been able to build an extensive and robust network that has aided Secvolt’s growth. Because of his expertise and understanding of the Crypto Industry, he has been featured on several news channels and has advised the youth on the subject.

He is in charge of the company’s marketing operations and is responsible for developing its marketing strategy and vision. He oversees a group of passionate marketing professionals and plans promotional strategies with the goal of making  Secvolt a global brand. 

He is a perfect blend of a practical attitude and innovative business acumen. He believes in the ability of individuals to perform exceptionally well when given an environment to experiment and explore their passions; a culture that he has built at Secvolt.

Divakar Choudhary

Divakar Choudhary is the founder and CEO of Secvolt who has been trading for more than six years now. He started the business in 2018 with the conviction that if anybody could dominate the market, it was him. He poured all of himself into the business and turned Secvolt into a market-beating machine.

Divakar developed the fundamental quant models that perform risk management and capture alpha using his skills from the previous organization and his time spent in the market. In order to make the system effective, he backtested risk mitigation algorithms and worked on them for more than 4 years to produce results.

Early Years

He began his crypto journey in 2013 after getting his first gaming Laptop and melded in with the Blockchain community like sunbeams on the ocean. He created many YouTube channels at the age of 15 and businesses by the time he was 17. Technology has always piqued Divakar’s interest. He endeavored and succeeded at freelancing in his effort to achieve financial independence. However, he soon realized that freelancing would always keep him in the rat race, and the only way out would be to build a machine yielding generational wealth.

Soon, he started trading using his own capital but suffered a loss in the market. He says, “95% of people lose money & the rest 5% make money from the loss of those 95%.” He then began working on an effective technique to be included in this 5% after losing part of his own assets during the early stages of trading. He began evaluating quant strategies using statistical models.

With his methodology, he once produced a 20% ROI in a single month. With the zeal of creating something exceptional, he borrowed money from friends and family and generated decent returns for them using primitive quant models. Month after month, the system’s efficiency and the competence of the man behind it allowed for excellent market returns.

In the beginning, Divakar worked on his laptop for over 18 hours. It took every ounce of his energy as he executed about 530+ deals daily for 4 years to create this company from the ground up. In 2021, he increased his volume by 827%, trading a total of $52 million and hitting a single account.

In his words-

“What does becoming “THAT” GUY mean to you? Who did you need when you were young? Be that person!”

He is a perfect example of someone who followed his passion and made a fortune from it! He dreamt of creating generational wealth as a youngster, envisioned it as an adult, and is now making it a reality with Secvolt!