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CS Professional · IFSCA - Regulations, Listing and Compliances · Overview of FinTech and Service Providers in IFSC

Nimbus Pay is in the IFSCA sandbox. A customer wishes to try its service. Which feature of sandbox testing best protects such participants?

The key protection is the set of safeguards IFSCA requires, including telling customers that the service is experimental, disclosing the risks, and limiting scale. IFSCA does not guarantee losses, and essential duties such as anti-money laundering and record-keeping are not waived.

  1. ASafeguards such as disclosure of the experimental nature and risks to customers, within limits set by IFSCACorrect
  2. BA guarantee that all losses will be paid by IFSCA
  3. CComplete exemption from all laws including anti-money laundering
  4. DNo requirement to maintain any records

Explanation

Sandbox testing operates with safeguards including informing customers of the test nature and risks and limits on scale. IFSCA does not guarantee losses, and core obligations such as AML and record-keeping are not waived.

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