We are committed to maintaining the highest standards of compliance with regulations aimed at preventing financial crimes, including money laundering and terrorist financing. Our Know Your Customer (KYC) and Anti-Money Laundering (AML) policy outlines our procedures and requirements for customer identification and verification.
1. Customer Identification
1.1. Identity Verification: All customers are required to provide valid identification documents to verify their identity. This includes but is not limited to government-issued photo identification such as passports, driver’s licenses, or national identity cards.
1.2. Proof of Address: In addition to identity verification, customers must provide proof of their residential address. Acceptable documents include utility bills, bank statements, or government-issued documents with the customer’s name and address.
2. Customer Due Diligence
2.1. Enhanced Due Diligence (EDD): We conduct enhanced due diligence for customers deemed to be high-risk based on factors such as transaction volume, geographic location, or other relevant criteria.
2.2. Source of Funds: Customers are required to provide information on the source of their funds used for cryptocurrency transactions. This may include details of employment, business ownership, investment income, or inheritance.
3. Transaction Monitoring
3.1. Automated Monitoring: We employ automated systems to monitor transactions for suspicious activity, including unusual transaction patterns, large transactions, or transactions involving high-risk jurisdictions.
3.2. Manual Review: Our compliance team conducts manual reviews of transactions flagged by our monitoring systems or identified through other means to assess potential risks and ensure compliance with AML regulations.
4. Reporting Obligations
4.1. Suspicious Activity Reporting: We are obligated to report any suspicious transactions or activities to the relevant authorities in accordance with applicable regulations.
4.2. Compliance with Regulatory Authorities: We cooperate fully with regulatory authorities and law enforcement agencies in investigations related to money laundering, terrorist financing, or other financial crimes.
5. Customer Communication
5.1. Transparency: We strive to maintain open and transparent communication with our customers regarding our KYC and AML policies, including any updates or changes to these policies.
5.2. Customer Support: Our customer support team is available to assist customers with any questions or concerns related to KYC and AML compliance.
6. Compliance Training
6.1. Employee Training: Our employees undergo regular training on KYC and AML compliance to ensure they understand their obligations and responsibilities under applicable regulations.
7. Privacy and Data Protection
7.1. Data Security: We are committed to safeguarding the privacy and security of customer information in accordance with relevant data protection laws and regulations.
7.2. Data Retention: Customer information collected for KYC purposes is retained in compliance with applicable laws and regulations and is used solely for the purpose of fulfilling our regulatory obligations.
By using our platform, customers agree to comply with our KYC and AML policies. Failure to provide requested information or comply with our procedures may result in restrictions on account activities or closure of accounts. We reserve the right to update or modify our KYC and AML policies as necessary to ensure compliance with evolving regulatory requirements.
