Company: FUFU
Filing Date: 2025-04-21
Form Type: 20-F
Source: 0001213900-25-033733
Chunk: 110

Company: Bitfufu Inc.
Filing Date: 2025-04-21
Form: 20-F
Item: Item 4
Chunk 110
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 updated periodically for product launches, available
mining and hosting capacity and other trend and development of the digital asset industry. Furthermore, we maintain an active presence
on social media in order to raise awareness of our brand. We have not relied heavily on sales force for advertising and marketing of our
cloud-mining and hosting solutions, as most of our customers approach us proactively.

Compliance Infrastructure

Risk Management Procedure

We are subject to various
anti-money laundering and counter-terrorist financing laws in the United States and jurisdictions where we operate. Our compliance
infrastructure is designed to prevent our platform from being used to facilitate money laundering, terrorist financing, and other illicit
activity in countries, or with persons or entities, included on designated lists promulgated by OFAC and equivalent foreign authorities.
We have developed, implemented, and maintained a know-your-customer (“ KYC”) procedure and a risk-based anti-money laundering
program, including internal policies that require our employees to report suspicious activities and transactions, comply with reporting
and recordkeeping requirements, and collect and maintain information about our customers.

When a new customer first
places an order on our platform, such customer is required to go through the KYC procedure and to submit certain authentication information.
For individual customers, we will collect personal identification information, such as name, nationality and address, to verify the identity
of individual customers. We collect identification documents, including valid national identity card, passport or driver license with
a photo issued by the relevant local government, and confirm the identification with a photo of the individual customer with the identification
documents provided by such customer. We also verify that submitted documents are not tampered with by photoshop and performs background
checks by using the Onfido system, which is a world-check intelligence database that delivers accurate and reliable information and
offers tools to help meet due diligence obligations, including meeting requirements under KYC screening and anti-money laundering.

For corporate customers, we
will collect information such as corporate registration records, business license and business address, among others, and conduct background
search for corporate customers’ major shareholders. Corporate customers must provide a valid certificate of incorporation &
incumbency, and valid shareholders’ identity documents if any shareholders have equal to or more than 20% shareholding in the corporate
customers. Based on the documents provided by such corporate customers, we will check the existence of the customer on the relevant local
government website to verify the authenticity of the documents provided. Similar to individual customers, we also perform KYC check for