FinCEN Registration and Bank Secrecy Act
DIRE MONEY TRANSMITTER LLC is registered with the Financial Crimes Enforcement Network (FinCEN) as a Money Services Business pursuant to 31 U.S.C. § 5330 and 31 C.F.R. § 1022.380. As a registered MSB, the Company maintains a written Anti-Money Laundering program, files required reports with FinCEN, and retains records in accordance with the Bank Secrecy Act (BSA), 31 U.S.C. § 5311 et seq.
USA PATRIOT Act Compliance
In accordance with Section 326 of the USA PATRIOT Act (31 U.S.C. § 5318(l)), the Company maintains a Customer Identification Program (CIP) that requires collection and verification of identifying information from all customers prior to account activation. The CIP includes procedures for verifying customer identity using documentary and non-documentary methods as appropriate.
State Money Transmission Licensing
Money transmission is regulated at the state level in addition to federal registration. The Company assesses applicable state licensing requirements on an ongoing basis and operates only in states where it is authorized to provide money transmission services. Services may not be available in all states. Customers are responsible for ensuring that use of the Morvanta platform is permitted under the laws of their state of residence.
OFAC Compliance
The Company screens customers and transactions against the sanctions lists maintained by the Office of Foreign Assets Control (OFAC). Individuals or entities on OFAC sanctions lists are prohibited from using the Morvanta platform.
Identity Verification Requirements
All accounts on the Morvanta platform require full identity verification before any trading or wallet functionality is enabled. Verification requires submission of a valid, unexpired government-issued photo identification document (such as a passport or driver's license), confirmation of residential address, and provision of a Social Security Number or Individual Taxpayer Identification Number as required by the Customer Identification Program.
Transaction Monitoring Program
The Company maintains an ongoing transaction monitoring program designed to detect unusual or suspicious patterns of activity. Monitoring is applied continuously to all account activity. Accounts or transactions flagged by the monitoring program are subject to review, which may result in temporary holds, requests for additional documentation, or account suspension pending investigation.
Suspicious Activity Reporting
The Company files Suspicious Activity Reports (SARs) with FinCEN as required by 31 C.F.R. § 1022.320 when it knows, suspects, or has reason to suspect that a transaction involves funds derived from illegal activity, is designed to evade reporting requirements, lacks a lawful purpose, or involves use of the platform to facilitate criminal activity. Federal law prohibits the Company from disclosing to any person (other than FinCEN and authorized personnel) that a SAR has been filed.
Enhanced Due Diligence
For accounts or transactions presenting elevated risk, the Company may apply enhanced due diligence procedures, including requests for source of funds documentation, enhanced monitoring, or additional identity verification steps.
Cryptocurrency involves substantial risk of loss. The value of digital assets can decrease significantly and rapidly. You may lose some or all of the value of any digital asset you hold or transact in through the Morvanta platform.
Past performance of any cryptocurrency is not indicative of future results.
Digital assets held through the Morvanta software wallet are NOT deposits. They are NOT insured by the Federal Deposit Insurance Corporation (FDIC). They are NOT bank guaranteed.
Information provided through the Morvanta platform, including market data and pricing information, does not constitute investment advice, financial advice, trading advice, or any other form of advice. The Company does not provide personalized investment recommendations.
Cryptocurrency markets operate continuously without regular trading hours. Markets are subject to volatility, liquidity risk, regulatory risk, counterparty risk, and technological risk including network outages and protocol changes.
Error Resolution Procedures
If you believe an error has occurred in connection with your account or a transaction, contact us promptly at support@morvanta.org or by calling +1 (866) 956-5750. Include your account information, a description of the error, and the date and amount of the transaction in question. We will investigate and respond within a reasonable timeframe consistent with applicable consumer protection requirements.
Complaint Submission
Complaints regarding the Morvanta platform or DIRE MONEY TRANSMITTER LLC may be submitted to:
Email: support@morvanta.org
Phone: +1 (866) 956-5750
Mail: 1422 S Tryon St STE 600, Charlotte, NC 28203
Complaints may also be submitted to applicable state regulators and to the Consumer Financial Protection Bureau (CFPB) at consumerfinance.gov.
Cancellation Rights
Where applicable under federal or state law, customers may have the right to cancel certain transactions. Specific cancellation rights depend on the nature of the transaction and applicable state law. Contact us for information about cancellation rights applicable to your specific transaction.
Privacy Practices
The Company collects, uses, and retains personal information in accordance with its Privacy Policy, available at morvanta.org/privacy.html. Data collection is limited to what is necessary for platform operation and compliance with applicable law. The Company does not sell personal information to third parties.
CCPA Compliance for California Residents
California residents have rights under the California Consumer Privacy Act of 2018 (CCPA), as amended by the California Privacy Rights Act (CPRA). These rights include the right to know what personal information is collected, the right to request deletion, the right to opt out of the sale of personal information (the Company does not sell personal information), and the right to non-discrimination for exercising these rights.
California residents may submit CCPA requests to support@morvanta.org. The Company will respond within 45 days as required by law. Certain information may be exempt from deletion requests due to mandatory record retention requirements under the Bank Secrecy Act.
Record Retention
The Company retains records in accordance with BSA requirements, which mandate retention of certain records for a minimum of five years. This retention obligation supersedes any deletion request for records subject to mandatory retention under federal law.