Anti-money laundering and identity check policy ('AML Policy') of the Company describes the Company's policy about the detection, prevention and reporting of attempts to use its platform (the 'Services') for money laundering, for financing illegal activities such as terrorism and drug trafficking, or fraud. Money laundering means: the process whereby the identity of the proceeds of crime is made unrecognizable such that these revenues appear to be legitimate income. Criminals are known to focus specifically on financial service providers with which they try to launder criminal proceeds without the company having knowledge or suspicions.
The Company offers the Services through its platform, which enables consumers to buy and sell crypto currencies. No digital and/or paper money balances of the customers are held or managed by the Company. The Company recognizes that decentralized and distributed digital currency networks protected by advanced cryptography and distributed data processing instead of a centralized (government) institution, entail a risk of unlawful use (as is the case with all financial systems). However, the Company believes that the legitimate use of currency networks based on this technology can provide substantial (efficiency) benefits within the world economy.
The Company's policy is to comply with applicable laws and regulations relating to the prevention of money laundering and identity control (Know Your Customer - KYC procedures), and to detect and prevent the use of its Services for the purposes of money laundering or for the facilitation of criminal or terrorist activities. Accordingly, the Company has implemented its AML Policy and associated systems and procedures to assess the specific risks associated with the Company's Services and established check mechanisms to address these risks. The Company has committed itself to protecting the privacy of its users but will not allow its Services to be used to launder money, commit fraud or other financial crimes, finance terrorist activities or facilitate other illegal behavior.
The Company's AML Policy is based on the guidance of publicly available Anti-Money Laundering and Counter-Terrorism Financing Law (AML/CTF) and other best practices published by Central Banks. These laws were drawn up by Central Banks on recommendations from the Financial Action Task Force (FATF) on money laundering, and provide instructions for compliance with such laws.
If you have any questions relating to this AML Policy, the use of your Account, the Services, or any other matter, please contact us