AML/KYC policy

AML Anti-Money Laundering is a set of measures aimed at preventing money laundering and terrorist financing. The main purpose of AML is to identify and suppress illegal financial transactions that may be related to:

• Criminal activity (drug trafficking, fraud, corruption, etc.).
• Financing of terrorism.
• Tax evasion.

The AML includes:

1. 1.Customer Identification (KYC) — verifying the identity of users and their transactions.
2. 2.Monitoring of operations — analyzing transactions for suspicious activity.
3. 3.Reporting suspicious transactions is the transfer of information to the relevant authorities.
4. 4.Compliance with legislation — compliance with the requirements of international and national laws.

The AML policy is mandatory for financial institutions, including cryptocurrency exchangers, to prevent the use of their services for illegal purposes.

KYC (from English Know Your Customer) is a customer identity verification procedure that It is used to identify and verify users. The main purpose of KYC is to ensure that the customer is who they say they are and to prevent the service from being used for illegal activities.

KYC includes:

1. 1.Information collection is a request for identification documents (passport, driver`s license, etc.).
2. 2.Verification is the verification of the provided data for accuracy.
3. 3.Risk assessment — analysis of the client`s activity for suspicious transactions.

KYC helps:

• Protect the service from fraud and illegal transactions.
• To ensure the safety of customers.
• Comply with regulatory and legal requirements.

1. 1.Customer Identification and Verification (KYC)
   1. 1.1.Document ument request:
      • A passport or other identification document.
      • A photo of a client with a document in his hand (a selfie).
      • Confirmation of the residential address (for example, utility bill).
   2. 1.2.Data verification:
      • Comparison of submitted documents with data, specified during registration.
      • Using third-party services to verify the authenticity of documents.
   3. 1.3.Risk assessment:
      • Analysis of client activity (frequency and volume of transactions).
      • Checking for links to suspicious addresses or transactions.
2. 2.Transaction Monitoring (AML)
   1. 2.1.Checking all incoming transactions:
      • All incoming transactions are automatically AML-checked for suspicious activity. activity.
      • Checking wallet addresses for blacklisted (Darknet, fraud, ransomware, etc.).
   2. 2.2.Manual verification:
      • Analysis of operations that aroused suspicion in the automated system.
      • Request additional information from the client (source of funds, the purpose of the transaction).
3. 3.Blocking and freezing of funds
   1. 3.1.Suspension of operations:
      • If suspicious activity is detected, the transaction may be suspended until the verification is completed.
   2. 3.2.Frean>Freezing of funds:
      • Funds may be temporarily frozen if the client refuses to provide the requested documents or explain the origin of the funds. Refunds can only be made to those wallets., from which crypto assets were sent to the wallets of the exchange service!
   3. 3.3.Account blocking:
      • The account may be blocked in case of repeated violations or detection of fraudulent activity.
4. 4.Suspicious transaction report
   1. 4.1.Internal report:
      • All suspicious transactions are recorded and analyzed by the internal security service of our service.
   2. 4.2.Transfer of data to regulators:
      • In case of confirmation of illegal activity, the information is transferred to law enforcement agencies or financial regulators.

If The transaction is not verified, the funds may be frozen, and the refund will be made only after providing all necessary documents and a complete transaction history. In such cases, a thorough check is carried out with the participation of our partners. Refunds are possible only after completion of verification and confirmation of the legality of the origin of assets.

Crypto wallet risk levels:

• 0-25% — low risk. The wallet or transaction is considered clean.
• 25-75% is the average risk level. Additional verification is required.
• 75% and above is a high level of risk. Such wallets or transactions are considered suspicious.

What should I do if the risk is higher than 50%, but you are confident in the reliability of the address?

The verification results are based on data from international databases, which are constantly updated. This means that an address that previously had 0% risk may change its status if it interacted with suspicious counterparties. In such cases, the risk assessment is automatically updated.