Compliance
Our commitment to regulatory standards, financial crime prevention, and customer protection.
KYC & AML
Know Your Customer and Anti-Money Laundering procedures are central to our onboarding and ongoing monitoring.
Data Protection
We adhere to GDPR and applicable data protection laws. Your personal information is handled with the highest care.
Transaction Monitoring
Real-time AI-driven transaction monitoring flags suspicious patterns and prevents fraudulent activity 24/7.
Regulatory Reporting
We maintain full transparency with regulatory bodies and file all required reports accurately and on time.
Regulatory Framework
SilverWay Bank operates under a strict compliance framework designed to meet global financial standards.
Anti-Money Laundering (AML)
SilverWay Bank maintains a robust AML program that includes customer due diligence, transaction monitoring, suspicious activity reporting, and regular staff training. We comply with all applicable AML laws and regulations including the Bank Secrecy Act.
Know Your Customer (KYC)
We verify the identity of all customers before allowing full access to our services. This includes government-issued document verification, address verification, source of funds disclosure, and ongoing monitoring of customer activity to ensure compliance.
Data Privacy Compliance
Our data practices comply with GDPR, CCPA, and other applicable privacy regulations. We implement privacy-by-design principles and conduct regular data protection impact assessments. We do not sell customer data.
Sanctions Compliance
SilverWay Bank screens all customers and transactions against applicable sanctions lists including OFAC, UN, EU, and HM Treasury sanctions lists. Transactions involving sanctioned parties are blocked immediately and reported.
Financial Crime Prevention
We use advanced analytics and AI to detect and prevent financial crime including fraud, identity theft, and unauthorized transactions. Our fraud prevention team operates 24/7 to protect our customers and the financial system.
Regulatory Reporting
We fulfill all regulatory reporting obligations including Suspicious Activity Reports (SARs), Currency Transaction Reports (CTRs), and international fund transfer reports. All reports are filed accurately and in a timely manner.
Record Keeping
We maintain comprehensive records of all customer information and transactions for a minimum of 7 years as required by financial regulations. Records are securely stored and made available to regulatory authorities upon lawful request.
Contact Our Compliance Team
For compliance-related inquiries or to report suspicious activity anonymously, contact compliance@silverwaybank.com or call (719) 68-SILVW.