Fraud Prevention & Transaction Monitoring Policy

1. Our Commitment

1.1 Launchit takes fraud prevention seriously and implements industry-standard controls to detect, prevent, and respond to fraudulent activity on our platform.

1.2 We partner with licensed and regulated payment service providers to process all transactions, including Boost (operated by Soft Space Sdn Bhd) and Billplz (a Bank Negara Malaysia-licensed payment service provider). All payment processing is governed by these providers' own compliance frameworks.

2. Transaction Monitoring

2.1 All transactions processed through the bookit platform are subject to automated monitoring for suspicious activity, including:

• Unusual transaction volumes or frequencies relative to a merchant's typical profile
• Transactions that are inconsistent with a merchant's stated business type
• Suspected account takeover or unauthorised access
• Patterns indicative of structuring or money laundering

2.2 Where suspicious activity is detected, Launchit may:

• Temporarily suspend transaction processing pending investigation
• Contact the affected merchant to verify account activity
• Report the activity to relevant regulatory authorities as required by law
• Terminate the merchant's account if fraud is confirmed

3. Merchant Responsibilities

3.1 Merchants using bookit's payment features are required to:

• Provide accurate business information during onboarding and keep it up to date
• Use the Services only for the stated, legitimate business purpose
• Not process transactions for prohibited or unlawful activities
• Promptly notify Launchit of any suspected fraud, chargebacks, or unauthorised transactions

3.2 Merchants are responsible for verifying the identity of their customers where required by applicable law and for maintaining records sufficient to investigate any disputed transaction.

4. Data Security

4.1 Launchit does not store card numbers, CVV codes, or other sensitive payment credentials on our systems. All cardholder data is handled exclusively by our PCI-DSS compliant payment partners.

4.2 Launchit's infrastructure is hosted on Amazon Web Services (AWS) with encryption in transit (TLS 1.2+) and at rest. Access to production systems is restricted and audited.

4.3 We conduct periodic security reviews and promptly address any identified vulnerabilities.

5. Reporting Fraud

5.1 If you suspect fraudulent activity on your bookit account or in connection with a transaction processed through our platform, please contact us immediately:

• Email: hello@launchit.my
• WhatsApp: +6017 920 9249

5.2 All fraud reports are treated seriously. We will acknowledge your report within one (1) business day and investigate promptly.

6. Regulatory Compliance

6.1 Launchit operates in compliance with applicable Malaysian laws and regulations, including guidelines issued by Bank Negara Malaysia (BNM) and the Personal Data Protection Act 2010 (PDPA).

6.2 We cooperate fully with law enforcement, payment network operators, and regulatory authorities in any investigation of suspected fraudulent activity.

6.3 Our anti-money laundering (AML) procedures are reviewed periodically to ensure continued compliance with applicable requirements.

7. Contact Us

For questions about this policy or to report a security concern, please contact: