👀 Crowdfunding, like any activity relating to financial transactions, is regulated (particularly in the fight against fraud and money laundering).
Public and private money pots hosted by platforms like ours must therefore respect certain rules, known as compliance rules.
🔦 What does this mean?
All money pots hosted on our site are reviewed over their lifetime.
When a money pot is spent for the first time, but these rules are not respected, our services cannot validate the expenditure.
⏱ When are the money pots checked?
The number of money pots created each day is such that it is not possible for our services to inspect them all as soon as they are created.
Verifications can therefore take place during the creation of the money pot as well as at the time of the spending request.
🎯 How is the conformity of a money pot checked?
Our services need to ensure that the purpose of the fundraiser is legal and that the funds will be used within the framework indicated during collection.
Supporting documents may be requested from you by our services.
Once the conformity of your money pot and your expenditure has been established, it can be validated.
🚀 To better understand: Leetchi responds to controls by the Directorate General for Competition, Consumer Affairs and Fraud Control (DGCCRF) and the Prudential Control and Resolution Authority (ACPR). Thanks to the work of our compliance department, our platform maintains its authorization and can continue to host money pots in complete security.
📌 Please note: If you are unable to provide us with all of the required documents or if they do not comply with our request, namely in French or English (for any other language, we however accept the documents translated by a certified translator) we will be obliged to reimburse participants in full, free of charge and in accordance with Article 7.3 of our T&Cs.
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