AML – Anti-Money Laundering.

Money laundering is the act of transforming money or other monetary instruments derived from any illegal activity into money or investments that appear legitimate so that their illegal source cannot be traced.

Procedures and methods

The purpose of the range of anti-money laundering measures and procedures uses to identify such transactions is to ensure that customers using services are equally identified by a uniform standard. This minimizes both its own risks and the risks of law-abiding clients to be involved in illegal actions of third parties. positions itself as a service that helps international organizations in the fight against money laundering.

To minimize the risks associated with money laundering and terrorist financing, we categorically do not accept or send payments to third (i.e., unidentified) parties. Each client, who is assigned his own account, has the right to send or receive payments using only his own accounts, whether they are accounts in electronic payment systems, bank accounts, credit / debit cards. We have the right to refuse to conduct transactions at any stage, if we believe that the transaction is in any way related to money laundering or criminal activity.

Adhering to the “Know your customer” policy, we have the right to identify the customer in the system. In this case, the client must provide two documents.

The first document is a government identification document with a mandatory photograph of the client. This can be an internal passport or a passport for traveling abroad, a driver’s license (for countries where a driver’s license is the primary identification document, for example, the United States) or a local ID (except for corporate access cards). The second document that we can request is an invoice with the client’s full name and actual address on it, not older than 3 months. This can be a utility bill, a bank statement for an arbitrary period, or any other document where the client’s full name, residential address, which he indicated in the account profile, is indicated.

Identification also includes confirmation of the client’s personal phone number.

After being identified, the account status is automatically increased, and the client is able to use all the functions of the system.

To prevent the compromise of sensitive client data, documents and information are uploaded through a special interface in the client’s account using the secure HTTPS protocol.

Obligations of the service operator to comply with the Anti-Money Laundering and Anti-Money Laundering Policy:

  1. storing the client’s transaction history for three years;
  2. tracking and identifying suspicious transactions;
  3. providing information about the client and his transactions to law enforcement agencies upon the relevant official request;
  4. suspension of a suspicious transaction until the circumstances are clarified and the return of suspicious funds to the account of the source of funds;
  5. refusal to perform suspicious transaction.

If you have any questions, please contact us.