--- title: What precautions does Veem take to prevent fraud? description: Veem is committed to Anti-Money Laundering (AML) compliance and Anti-Terrorism Financing and has built policies, procedures, and reporting to prohibit the use of the Veem platform for such activities. --- [Skip to content](https://help.veem.com/hc/en-us/articles/360034344853-what-precautions-does-veem-take-to-prevent-fraud-#main-content) English Show submenu for translations [Customer portal](https://help.veem.com/tickets-view?hsLang=en) [![veem-logo-2](https://help.veem.com/hubfs/veem-logo-2.svg)](https://www.veem.com/) Open main navigation Close main navigation - English Show submenu for translations - [Customer portal](https://help.veem.com/tickets-view) - [Contact us](https://www.veem.com/contact/) [Contact us](https://www.veem.com/contact/) How can we help you? - There are no suggestions because the search field is empty. 1. [Help Center](https://help.veem.com/?hsLang=en) 2. [Security and Compliance](https://help.veem.com/security-and-compliance?hsLang=en) # What precautions does Veem take to prevent fraud? ## Veem is committed to Anti-Money Laundering (AML) compliance and Anti-Terrorism Financing and has built policies, procedures, and reporting to prohibit the use of the Veem platform for such activities. In support of our AML and Anti-TF policy and procedures, Veem must: - **Identifying our customers.** Customer information is collected during registration and transactions. Based on the level of risk, Veem will ensure that it has a reasonable knowledge of our customers' true identities. In verifying the customer, Veem will perform enhanced due diligence for those presenting higher risk and may require additional information, such as photo identification. - **Monitor transactions and activity.** Veem employs a risk-based system and procedures to monitor ongoing customer activity to detect fraud and money laundering. These include, but are not limited to, the placement, layering, and integration of funds. - **Procedures for reporting.** In appropriate circumstances, procedures for reporting suspicious activity internally and to the relevant law enforcement authorities are implemented. Veem is prohibited from transacting with individuals, companies, and countries on prescribed Sanctions Lists. Therefore, Veem will screen against the European Union, U.S. Office of Foreign Assets Control (OFAC), and other global sanctions lists in all jurisdictions in which we operate.   Still need help? 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