Statement of Compliance
Introduction:
Our company operates a cryptocurrency exchange platform that allowscustomers to buy, sell, and exchange cryptocurrency. As part of our commitment to ensuring the integrity of our platform andpreventing it from being used for money laundering, terrorist financing, orother illegal activities, we have implemented a comprehensive Anti-MoneyLaundering (AML) and Know-Your-Customer (KYC) framework.
Customer Due Diligence (CDD):
We will conduct customer due diligence procedures for all our customersbefore they can use our services. This includes verifying their identity,address, and source of funds. To do this, we will ask customers to provideus with personal information, such as their name, address, date of birth,and government-issued identification documents, such as a passport ordriver's license. We might ask our customers to provide proof of theiraddress, such as a utility bill or bank statement, and to explain the sourceof their funds. We may use third-party verification services to verifycustomer information, and we reserve the right to refuse service to anyonewho fails to provide the requested information.
Risk-Based Approach:
We will adopt a risk-based approach to our AML/KYC compliancemeasures. This means that we will assess the risk posed by each customerbased on factors such as their transaction history, country of origin, etc.Customers who are deemed to be higher risk, such as those conductinglarge transactions or those from high-risk countries, will be subject toenhanced due diligence procedures. This may include additional identityverification measures, such as face-to-face interviews, and more frequentmonitoring of their transactions and activities on our platform. If we decidethat the risk associated with a particular transaction is too high, we mighthave to decide to not go through with the transaction.
Ongoing Monitoring:
We will monitor customer transactions and activities on an ongoing basisto identify suspicious or potentially illegal activities. This includesmonitoring for unusual transaction patterns, such as multiple transactionsof similar amounts, and monitoring for transactions that are inconsistentwith a customer's profile or usual behavior. We will also monitor fortransactions that involve high-risk countries, politically exposed persons,or other individuals or entities that are subject to sanctions or otherregulatory measures. If we identify any suspicious activities ortransactions, we will promptly report them to the relevant authorities.
Record Keeping:
We will maintain proper records of all customer transactions and identityverification documents as required by law. These records will be securelystored and made available to regulatory authorities upon request. We willalso maintain records of any suspicious activities or transactions that wereport to the authorities.
Training and Awareness:
We will train our employees on AML/KYC compliance procedures andensure that they are aware of their responsibilities in detecting andreporting suspicious activities. This includes providing regular trainingand updates on regulatory developments and new risks and threats.
Reporting:
We will promptly report any suspicious activities or transactions to therelevant authorities as required by law. This includes filing suspiciousactivity reports with the appropriate financial crimes enforcement andother relevant authorities in other jurisdictions. We will also cooperatewith law enforcement and regulatory authorities in their investigations ofany suspicious activities or transactions that are reported to them.
Conclusion:
We are committed to complying with all AML/KYC regulations and will takeappropriate measures to prevent our platform from being used for moneylaundering or other illegal activities. Our AML/KYC policy is designed todetect and prevent illicit activities on our platform and to ensure theintegrity of our services. We will continue to monitor regulatorydevelopments and update our policies and procedures as necessary toensure compliance with changing requirements.
Contact:
If you want to find out more about our AML/KYC framework, do nothesitate to contact us by sending us an email to the following address: contact@support.kryptonim.com