AML/KYC Policy

TWhat is the KYC procedure and why is it getting so much attention? We tell you how she can protect you from scammers while maintaining anonymity. KYC and AML checks: why do you need identity verification in the crypto-currency field. KYC (Know Your Customer) is a procedure for verifying the identity of a client and assessing potential risks from him. But why is it needed and why is it almost impossible to buy cryptocurrency today without verifying your identity? Does this not contradict the original principles of anonymity and decentralization of the crypto industry? Today we will analyze what AML and KYC checks are for and how they work. We will also tell you how verification will help reduce the number of fraudsters while maintaining basic user anonymity.

The exchange office has the right to request KYC verification in case of suspicion: Transactions related to money laundering; Transactions involving income from terrorist and criminal activities; Transactions involving income from transactions in illicit drug trafficking; Transactions related to trade transactions with countries with which international trade is prohibited by current legislation Transactions that involve the receipt of income from any other illegal activity.

Anti-Money Laundering is a set of measures to counter money laundering, terrorist financing and the creation of weapons of mass destruction. This procedure includes the identification, storage and mutual exchange of information about customers, their profits and transactions between financial institutions and government departments. Most classical financial institutions use AML measures to check a business that works with cash or uses cash as one of the main assets. They also check those enterprises that have money in different accounts, regularly transfer them to other countries and banks, buy futures and other instruments for cash settlement. In other words, all businesses that can potentially bypass financial monitoring and launder funds fall under verification.

Total risk (in percent) - the probability that the address is associated with illegal activity. Sources of risk - known types of services with which the address interacted, and the percentage of funds received from / given to these services, for which the total risk is calculated.

If the service does not conduct such checks, then fraudsters can use it as a platform for money laundering and terrorist financing. And then the service itself will be held accountable. That is why exchanges and other large cryptocurrency companies implement AML requirements in their business and conduct regular KYC verifications.

If the AML check reveals a high-risk asset, the service reserves the right to:
- suspend the transaction
- request the user to comply with clause 6.4 of the Service Exchange Rules
- return the asset with a high risk only to the details from which the transfer was made.

To confirm the origin of the funds, we ask users to answer the following questions:
- from which platform did the funds come to you? If possible, please provide screenshots from the withdrawal history of the sender's wallet/platform, as well as a link to the transaction in the explorer
- for what service did you receive the funds?;
- amount date and time of the transaction;
- through which contact person did you communicate with the sender of the funds? If possible, please provide screenshots of the correspondence with the sender, where we can see confirmation of sending the funds.
- screenshots of the withdrawal from the platform from which the counterparty transferred funds to you, which will show the details of the transaction.
If your transaction has been blocked, the exchange of funds is not possible. Funds can ONLY be returned to the sender's address. When returning funds, a commission of up to 10% of the exchange amount or the network fee amount in which the exchange was made may be charged.