Chennai: Giottus, one of India's top crypto investment platforms, has announced its membership in the Alliance of Reporting Entities for AML/CFT (ARIFAC). The strategic initiative underscores Giottus’s commitment to compliance, anti-money laundering, and combating financial terrorism (AML/CFT) while positioning itself as a key player in shaping the regulatory landscape of the virtual digital assets (VDA) industry, the company said in a statement.
ARIFAC is a collective of reporting entities spanning various sectors, including banks, Non-Banking Financial Companies (NBFCs), and payment aggregators as well as the FIU. As a member of ARIFAC, Giottus joins a community dedicated to ensuring adherence to compliance rules and regulations while promoting information sharing and knowledge exchange.
Giottus has already established itself as a reporting entity under the purview of the Financial Intelligence Unit (FIU-India), under the Union Ministry of Finance, and is an active participant in the India Cyber Crime Coordination Centre (I4C).
This initiative with ARIFAC is in line with Giottus's mission to lead the charge in establishing comprehensive regulations that prioritize the safety of customers and foster innovation for entrepreneurs in the VDA space. It serves as a validation for Giottus customers, assuring them that the platform operates in strict accordance with Indian laws, ensuring a secure and transparent environment for trading and investment.
Vikram Subburaj, Giottus CEO, said, “ARIFAC is a testament to Giottus's dedication to regulatory compliance and our proactive approach to making the VDA space safer and more innovative. We believe that collaboration and knowledge exchange are crucial in shaping the future of the industry. Giottus looks forward to actively contributing to the ARIFAC community and driving positive change in the VDA ecosystem.”
