Safeguarding Against Money Laundering & Fraud

Fraud and money laundering are against the law and detrimental to our community. To stop, spot, and solve any fraud and money laundering on our platform, YumyHub has a number of procedures in place.

Money laundering - what is it?

The term “money laundering” refers to the illegal practice of obtaining money from a criminal activity or source and utilizing it to purchase products or services from a legitimate source (such as a bank transaction) to make it seem as though the money originated from a legitimate source. The procedure “launders” the money, which is seen as “dirty,” to make it appear “clean.”

On YumyHub, money laundering is not accepted or permitted. To identify and stop any attempt to utilize YumyHub for this purpose, we have put in place a number of tools, policies, and procedures.

Describe fraud.

The word “fraud” refers to the illegal act of misleading or deceiving someone in order to get money or another valuable item.

On YumyHub, fraud is not accepted or tolerated. Any effort to utilize YumyHub for this purpose will be detected and prevented by a number of tools, policies, and procedures we have in place.

How does YumyHub deal with the possibility of fraud and money laundering on the platform?

We have a dedicated team that specializes in identifying and stopping efforts to use the YumyHub platform for money laundering and fraud as part of our commitment to keeping our community safe. This team looks for and looks into questionable behaviors or transactions using human judgment, our own internal technologies, and outside tools.

Employees at YumyHub are constantly on the lookout for “red flags” that could point to fraud or money laundering. These may consist of:

  • Multiple card payment attempts made under various names,
  • Quick purchases,
  • Payment attempts made from IPs that have been flagged, and
  • Transaction attempts made from IPs shared by both the fan and the creator,
  • Purchases from users who have a history of making similar purchases (such as newly created users or users with questionable email domains), and/or
  • Suggestions in direct messages (such as offering to send 50%/40% back via alternative payment methods).

Does YumyHub frequently see instances of money laundering or fraud?

No. The occurrence of money laundering or fraud on the platform is extremely rare thanks to our identity verification process, restrictions on transactions, including minimum and maximum pricing, daily limits, and other YumyHub prevention and detection methods.

We can identify a person and remove and exclude them from the platform if we find that they have broken one of our rules and regulations or the law. As necessary, we can also inform law enforcement about illegal activity.

Does YumyHub provide its staff with training on how to spot fraud and money laundering?

Yes. We ensure that our platform protection team receives ongoing training on industry best practices.

What does YumyHub do if it believes there may be fraud or money laundering going on on its platform?

When suspicious activity is noticed or reported, we look into it and take the necessary action. Until our investigation is finished, the pertinent account or transaction may be suspended, and/or specific content may be deleted. In addition, we cooperate with law enforcement when necessary.

How does YumyHub cooperate with the sanctions regimes or adhere to them?

YumyHub abides by all pertinent regional, governmental, and international sanctions regimes. In order to check pertinent databases, we work with outside vendors.

If we discover a potential user, or someone with or for whom the user is transacting, is on a prohibited list, is from, or is transacting with a person or entity situated in, a prohibited country or region, we comply with all legal obligations.

Do YumyHub and law enforcement collaborate to stop fraud and money laundering?

Yes. We notify law enforcement when we suspect any illegal activity on our platform, such as fraud or money laundering. We also respond right away to any inquiries from the government or law enforcement regarding accounts or transactions that might be fraudulent.