Compliance
Registration, screening, and what we will not do.
Compliance is the reason banking partners work with us and the reason clients can reconcile every flow. It is not a footnote on this business.
Registration
Shoozie LLC is registered with FinCEN as a Money Services Business. Shoozie is not a bank. Shoozie does not provide custody and does not hold client funds. Transactions are executed directly between Shoozie and the client as principal.
Onboarding and screening
Every counterparty completes Know Your Business verification before the first transaction. That includes entity documentation, beneficial ownership, and the business purpose of expected flows. Counterparties and transactions are screened against applicable sanctions lists, and flows are monitored on an ongoing basis.
Traceability
Every transaction carries a complete record from origination to settlement. Clients receive documentation sufficient for reconciliation and audit. Shoozie does not support anonymous transactions and does not onboard counterparties who cannot be identified.
Who we contract with
Shoozie transacts with the legal entity that completes onboarding. We do not collect payments on behalf of that entity's customers and we do not act as a payment processor. Funds reach us from an account belonging to the onboarded business, and settle back to an account belonging to the onboarded business. This keeps the compliance chain identifiable at both ends.
Eligibility
Services are available to business and institutional clients only. Shoozie does not serve retail customers. Shoozie does not transact with sanctioned parties or in jurisdictions where the activity is prohibited, and reserves the right to pause, decline, or cancel any transaction on compliance grounds.
Questions from your risk team
If your compliance or treasury team needs documentation before onboarding, the desk can provide it. Ask and we will send what your process requires.