FRAUD POLICY
Fraud Prevention, Detection and Response Framework
Geloro Pay Ltd
Trading as Octapex
Registered Headquarters: 2100-1055 West Georgia St, Vancouver, British Columbia, Canada, V6E 3P3
Octapex is committed to maintaining a secure and trustworthy platform by preventing, detecting, and responding to fraudulent and abusive activities. This Fraud Policy outlines the measures implemented to protect users, safeguard assets, and ensure compliance with applicable regulatory standards.
1. Purpose and Scope
This Policy establishes the framework for:
• Preventing fraudulent activity
• Detecting suspicious behavior
• Investigating and responding to incidents
• Protecting users and the platform
It applies to all users, transactions, and activities conducted on the Octapex platform.
2. Definition of Fraud
Fraud includes any act intended to deceive, manipulate, or exploit the platform or its users for financial or unlawful gain.
Examples include:
• Unauthorized account access
• Identity theft or impersonation
• Payment or transaction fraud
• Market manipulation
• Use of stolen funds or assets
• Circumvention of platform controls
3. Fraud Prevention Measures
Octapex implements multiple layers of preventive controls, including:
Account Protection
• Mandatory identity verification (KYC)
• Two-Factor Authentication (2FA)
• Secure login and access controls
• Device recognition and monitoring
Access Controls
• Role-based internal access restrictions
• Segregation of duties across teams
• Strict credential management policies
Transaction Controls
• Pre-transaction validation checks
• Withdrawal safeguards and approval processes
• Behavioral analysis prior to execution
4. Fraud Detection and Monitoring
Octapex uses automated and manual systems to identify suspicious activity, including:
• Unusual login patterns or device changes
• Abnormal transaction behavior
• Rapid or irregular movement of funds
• Suspicious blockchain activity
• Indicators of coordinated or manipulative trading
Monitoring is conducted on a continuous, real-time basis.
5. Investigation and Response
Where suspicious activity is detected, Octapex may take immediate action, including:
• Temporary restriction of account access
• Suspension of withdrawals or transactions
• Enhanced due diligence and verification
• Internal investigation procedures
Where required, suspicious activity may be reported to relevant authorities.
6. Enforcement Measures
In cases of confirmed or suspected fraud, Octapex reserves the right to:
• Suspend or terminate accounts
• Freeze assets where legally permitted
• Reverse or block transactions where possible
• Report users to law enforcement or regulatory bodies
Actions are taken in accordance with applicable laws and internal compliance standards.
7. User Responsibilities
Users play an important role in fraud prevention and are expected to:
• Maintain the confidentiality of account credentials
• Enable Two-Factor Authentication (2FA)
• Monitor account activity regularly
• Avoid phishing attempts and suspicious communications
• Report any unauthorized activity immediately
Failure to follow security best practices may increase risk exposure.
8. Regulatory Compliance
Fraud prevention measures operate alongside broader compliance obligations, including:
• Anti-Money Laundering (AML) controls
• Sanctions and PEP screening
• Market abuse monitoring
Octapex aligns its practices with applicable regulatory frameworks, including FINTRAC Canada requirements.
9. Continuous Improvement
Fraud risks evolve continuously. Octapex maintains an ongoing commitment to:
• Enhancing detection systems
• Updating risk models
• Strengthening internal controls
• Adapting to emerging threats
Fraud prevention is an integral part of the Company’s operational framework.
10. Reporting Fraud
Users who suspect fraudulent activity should contact:
• support@octapex.com
All reports are treated with priority and handled confidentially.
Our Commitment
Geloro Pay Ltd, operating as Octapex, is committed to:
• Protecting users from fraudulent activity
• Maintaining a secure trading environment
• Acting swiftly against suspicious behavior
• Upholding transparency and regulatory standards
Fraud prevention is a core pillar of trust on the Octapex platform.