Legal and Regulatory Compliance
VitalSwap Anti-Money Laundering (AML) Policy
It is the policy of VitalSwap Payment Technologies Inc. (VitalSwap), VitalSwap Technologies LLC, VSGlobal Connect Limited, to strictly prohibit and actively prevent money laundering, fraud, and the financing of terrorist or criminal activities.
Money laundering is generally defined as the process of disguising the origins of illegally obtained funds, often by routing them through legitimate businesses or foreign financial institutions. VitalSwap’s AML policy aligns with the requirements of the U.S. Department of Treasury, the Financial Crimes Enforcement Network (FinCEN), and relevant regulations under the Bank Secrecy Act (BSA) — including 31 CFR Part 103 and Section 120.140c.
Given the sensitive and high-value nature of the transactions we facilitate, VitalSwap has implemented robust AML policies, procedures, and internal controls designed to comply with all applicable laws, including BSA regulations and best practices adopted by the financial services industry.
These policies are regularly reviewed and updated to reflect changes in law, regulation, and our business operations.
VitalSwap has appointed a dedicated AML Compliance Officer, who:
Leads the implementation and oversight of our AML program
Chairs our internal AML committee
Ensures employees receive proper training
Maintains all AML-related records
Ensures timely filing of Suspicious Activity Reports (SARs) with FinCEN, when required
Has the full authority and responsibility to enforce the firm’s AML program across all departments
In addition, all VitalSwap employees are empowered and required to act as AML watchdogs, with the duty to report any activity that may appear suspicious or non-compliant.
For more information about VitalSwap’s AML program and procedures, please contact [email protected].
VitalSwap Licensing Coverage and Disclosure
| Category | Details |
|---|---|
| Primary Licensed States | – Georgia (Regulated by the Georgia Department of Banking and Finance) – Maryland (Regulated by the Maryland Department of Labor, Office of Financial Regulation) |
| Service Provider for Other States | For customers outside Georgia and Maryland, account services are provided by BridgeXYZ, a financial technology platform powered by Stripe. |
| States Where Accounts Are Managed by BridgeXYZ | Alabama, Arizona, Arkansas, California, Colorado, Connecticut, District of Columbia, Florida, Guam, Hawaii, Idaho, Illinois, Iowa, Kansas, Kentucky, Louisiana, Maine, Michigan, Minnesota, Missouri, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, North Dakota, Ohio, Oklahoma, Oregon, Puerto Rico, Rhode Island, South Carolina, South Dakota, Tennessee, Utah, U.S. Virgin Islands, Vermont, Washington, West Virginia, Wisconsin |
State Disclosures
| State | Disclosure |
|---|---|
| Georgia | Licensed by the Georgia Department of Banking and Finance (Lic. #2035354 / NMLS #2035354).The Department provides consumer resources and accepts complaints. While it does not intervene in individual disputes, complaint information may be used in regulatory review. Georgia Residents File a complaint with CFPB:🔗 consumerfinance.gov/complaint📞 Phone: (855) 411-2372 |
| Maryland | Regulated by the Maryland Department of Labor, Office of Financial Regulation (License #12-2035354 / NMLS #2035354). Maryland Residents Submit complaints to:📍 1100 N. Eutaw St., Suite 611, Baltimore, MD 21201📞 Toll-Free: 1-888-787-0136🔗 nmlsconsumeraccess.org |
Nigeria License Coverage
| Entity | Description |
|---|---|
| VSGlobal Connect | Operating in partnership with SafeHaven MFB and 1APP GO. |
| Licensing | Licensed Microfinance Bank (MFB) authorized to collect, hold, and transmit funds locally within Nigeria. |