AML (Anti-Money Laundering, Anti-Money Laundering) are the principles of combating money laundering, terrorist financing and the creation of weapons of mass destruction. The procedure includes the identification, storage and exchange of information about users, their income and transactions between organizations and departments.
High-risk assets (transactions) – assets (transactions) with a total risk (such as: Dark Service, Stolen Coins, Fraud Shop, Illicit Actor/Organization, High-Risk Jurisdiction, Lending Contract, Dark Market, Illegal Service, Mixer, Ransom, Scam, Terrorism Financing, Gambling, Fraudulent Exchange, Sanctions, Child Exploitation, Enforcement action and others) equal to 30% or more.
KYC is an abbreviation for Know Your Customer (know your customer), usually KYC stands for verification or, in other words, customer identity verification. KYC is carried out in order to combat money laundering, protect against fraud, prevent the user from impersonating another, etc. The identity of the user can be verified using government-issued identification, including a passport, or other government document.
2. The procedure for conducting AML checks and implementing the principles of KYC
2.1 In order to avoid misunderstandings and conflict situations, we strongly recommend that before making an exchange, all users independently check the risk level of their transaction (assets), for example, using https://amlbot.com
2.2 The Service has the right to carry out an AML check of transactions in the event of a request from law enforcement agencies for a specific Application/Client, in case of suspicious behavior of the client, and also at its own discretion.
2.3 When conducting AML procedures, the service has the right to use third-party services, such as https://amlbot.com/ru, https://crystalblockchain.com, https://getblock.net and others.
2.4 If, as a result of an AML check, a transaction is determined to be highly risky, the Service applies the following procedures:
– with a risk of 30% to 50%, discounting of the exchange rate by 1-2% is applied
– with a risk of more than 50%, increased progressive discount rates are applied, and the Service has the right to initiate the KYC procedure
2.5 As part of the KYC procedure, the Service has the right to request additional information from the Client for extended identification, for example, such information can be requested: a photo selfie or a video selfie with a passport in hand (with readable data: series and number of the passport, full name) , without interruption to the video demonstration of the screen where the wallet / account from which the transaction was sent is clearly visible (with readable data: date and time, amount and address of the recipient), the execution of the application is suspended until the completion of the KYC procedure.
2.6 In case of refusal to undergo the KYC procedure at the request of the client, the Service has the right to return the funds of a highly risky transaction, in which case the Service has the right to withhold 10% of the amount on the application, as well as the transfer commission.
