Compliance & Regulatory

At VeloCards by DigiStreets, we are committed to maintaining the highest standards of compliance and regulatory adherence. We operate within the framework of applicable financial regulations and work closely with regulatory bodies to ensure our services meet all legal requirements.

Financial Regulations

VeloCards operates in compliance with:

• Payment Card Industry Data Security Standard (PCI DSS)
• Anti-Money Laundering (AML) regulations
• Know Your Customer (KYC) requirements
• Counter-Terrorist Financing (CTF) regulations
• Electronic Funds Transfer regulations
• Consumer protection laws

Card Network Compliance

We maintain compliance with:

• Visa Operating Regulations
• Mastercard Rules and Standards
• Card network security requirements
• Transaction processing standards

Privacy Regulations

We comply with major privacy regulations including:

Security Measures

Our security infrastructure includes:

• End-to-end encryption for sensitive data
• Secure socket layer (SSL/TLS) certificates
• Regular security audits and penetration testing
• Multi-factor authentication (MFA) for user accounts
• Tokenization of card data
• Real-time fraud monitoring and detection

Identity Verification

Our KYC process includes:

• Government-issued ID verification
• Address verification
• Biometric verification (where applicable)
• Enhanced due diligence for high-risk transactions
• Ongoing monitoring of customer activity

Anti-Money Laundering

We implement robust AML measures:

• Transaction monitoring and suspicious activity reporting
• Sanctions screening against OFAC and international lists
• Customer risk assessment and profiling
• Record keeping in compliance with regulatory requirements
• Staff training on AML procedures and red flags

In compliance with international sanctions and regulations, we cannot provide services to users located in or citizens of certain jurisdictions. This includes:

• Countries subject to comprehensive U.S. sanctions
• FATF blacklisted and grey-listed jurisdictions
• Regions where our services are legally restricted

We continuously monitor sanctions lists and update our prohibited jurisdictions accordingly.

Transaction Limits & Controls

To comply with financial regulations and prevent fraud, we implement:

• Tiered spending limits based on verification level
• Daily and monthly transaction limits
• Velocity controls to detect unusual activity
• Geographic restrictions where necessary
• Enhanced monitoring for high-value transactions

Reporting & Transparency

We maintain transparency through:

• Regular reporting to regulatory authorities
• Suspicious Activity Reports (SARs) when required
• Currency Transaction Reports (CTRs) for qualifying transactions
• Annual compliance audits and assessments
• Cooperation with law enforcement investigations

Cryptocurrency Compliance

For cryptocurrency-related services, we comply with:

• Virtual Asset Service Provider (VASP) regulations
• Travel Rule requirements for crypto transfers
• Source of funds verification for crypto deposits
• Blockchain analysis and transaction monitoring
• Compliance with local cryptocurrency regulations

Audit & Certification

VeloCards undergoes regular third-party audits:

• Annual PCI DSS compliance audits
• SOC 2 Type II certification
• Independent security assessments
• Compliance reviews by card networks
• Internal audit programs

Compliance Updates

We continuously monitor regulatory changes and update our compliance program accordingly. Users will be notified of material changes that affect their use of our services through email notifications and dashboard announcements.

Report Compliance Concerns

If you have concerns about compliance or suspect violations, please contact us immediately:

All compliance concerns are treated with strict confidentiality and investigated promptly.