Castler closes Pre-Series A funding of $6 Million led by Flipkart, Capital 2B, IIFL Fintech Fund, Venture Catalysts & Zerodha

How does a cross-border escrow service ensure compliance with international regulations and laws?

A cross-border escrow service, such as Castler’s digital escrow system, ensures compliance with international regulations and laws by implementing strict verification and due diligence procedures. These procedures are designed to verify the identity of the parties involved in the transaction, as well as to ensure that the transaction is legitimate and complies with all applicable laws and regulations.

In addition, the escrow service may also require the parties to provide additional documentation or information to support the transaction, such as proof of ownership or proof of funds. This helps to reduce the risk of fraud or other illegal activities.
Furthermore, the escrow service may also work with regulatory bodies and law enforcement agencies to ensure that all transactions are conducted in accordance with applicable laws and regulations. This may include reporting suspicious activity or transactions that may be in violation of international laws or regulations.

Overall, a cross-border escrow service must be diligent in its efforts to ensure compliance with international regulations and laws in order to protect the interests of all parties involved in the transaction.