Compliance Program
Shoozie is committed to maintaining a robust compliance framework to foster a secure and trustworthy environment for our clients and partners.
Shoozie LLC is registered with the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) as a Money Services Business (MSB). This registration applies to Shoozie’s activities as a technology platform and does not imply licensing, approval, or endorsement by any government authority.
Shoozie maintains a risk-based Anti-Money Laundering (AML) and Bank Secrecy Act (BSA) compliance program, proportionate to its role as a platform, designed to align with applicable regulatory expectations and industry best practices.
Key pillars of our program include:
- Business Onboarding (KYB): A comprehensive customer identification program, including verification of business details, beneficial ownership review, and sanctions screening against relevant lists (e.g., OFAC).
- Risk Assessment: A thorough risk-based approach to customer and jurisdictional risk, which informs the level of due diligence required.
- Ongoing Monitoring: Continuous monitoring of platform activity for unusual or suspicious patterns. Periodic reviews are conducted to ensure customer information remains current.
- Partner Requirements: Our partners may apply their own additional compliance and onboarding requirements, which we help coordinate.
Understanding the roles of each party is key to our operating model:
Shoozie LLC
Operates as the technology platform, managing client onboarding workflows, providing access to services, and coordinating with our partner network. Shoozie does not hold customer funds or conduct regulated financial activities directly.
Our Partner Network
Our partners are regulated financial institutions (e.g., banks, payment institutions) that provide the underlying banking, payment, and settlement services. They are responsible for holding funds and executing financial transactions under their respective regulatory licenses.
For compliance-related inquiries, please contact: compliance@shoozie.io