Last updated: 25.07.2027
1. Introduction
Welcome to Mystater. We are committed to protecting your personal information and ensuring compliance with financial regulations, including Anti-Money Laundering (AML) obligations. This page outlines how we collect, use, store, and protect your data, as well as how we work to detect and prevent illegal financial activities.
2. Privacy Policy
2.1. Data We Collect
We collect personal data when you use our services, including but not limited to:
- Full name and contact details
- Date of birth and identification documents (e.g., passport, driver’s license)
- Financial information (bank account details, transactions)
- Device and usage information (IP address, browser type)
- Communication history with our support teams
2.2. How We Use Your Data
Your data is used to:
- Verify your identity and comply with KYC (Know Your Customer) regulations
- Process payments and transactions securely
- Detect and prevent fraud and financial crime
- Send service updates and regulatory notices
- Improve and personalize your user experience
2.3. Legal Basis for Processing
We process personal data based on:
- Your consent
- Contractual necessity
- Legal obligations (e.g. AML/CFT compliance)
- Legitimate interests, such as improving service performance
2.4. Data Sharing
We may share your data with:
- Regulated third parties (e.g., banking partners, identity verification providers)
- Government or regulatory authorities, as required by law
- Service providers under strict data protection agreements
2.5. Data Retention
We retain your information only as long as necessary to fulfill our legal and operational requirements. This may include retaining data for a minimum of 5 years after your account is closed, as required by AML regulations.
2.6. Your Rights
Depending on your jurisdiction, you may have the right to:
- Access the data we hold about you
- Correct inaccurate information
- Request data deletion (subject to regulatory retention requirements)
- Object to or restrict processing
- Lodge a complaint with a data protection authority
3. Anti-Money Laundering (AML) Policy
3.1. Our Commitment
Mystater is fully committed to preventing its platform from being used for money laundering or terrorist financing. We comply with international AML standards and regulatory guidelines.
3.2. KYC Procedures
We verify each customer’s identity through:
Government-issued ID verification
Address verification (e.g., utility bills, bank statements)
Biometric checks or selfie verification
Ongoing monitoring of transactions
3.3. Transaction Monitoring
Our systems automatically monitor transactions for suspicious activity such as:
Unusually large deposits or withdrawals
Rapid movement of funds between accounts
Transactions linked to high-risk jurisdictions
Structuring (smurfing) or evasion patterns
Suspicious activity may result in:
Temporary account suspension
Reporting to relevant financial authorities
Termination of services
3.4. Staff Training & Responsibility
All employees undergo mandatory AML and fraud awareness training. A designated Compliance Officer oversees the implementation and enforcement of AML policies.
3.5. Regulatory Cooperation
We cooperate with law enforcement and financial authorities as required by law, including:
Submitting Suspicious Activity Reports (SARs)
Freezing accounts under official request
Providing transaction histories upon legal demand
- Contact Us
If you have any questions about this policy or would like to exercise your data rights, please contact:
Mystater Compliance Team
📧 Email: compliance@mystater.com
- Updates to This Policy
We may update this policy to reflect changes in regulations or our services. Significant updates will be communicated to you via email or in-app notifications.
Mystater is dedicated to maintaining the highest standards of data protection and financial integrity. Thank you for trusting us.